The kobopay vault is a savings and investment platform within the kobopay app. There are currently five vault options on kobopay.
Investment plan
The investment plan offers a variety of low to high-risk investment options starting as low as ₦1,000. Investment returns are between 10% — 20% per annum which can be withdrawn at maturity or rolled over.
Flexible savings plan
The flexible savings plan is an interest-free savings plan that allows you to save as you go and withdraw whenever you want. It is the best option for creating an emergency fund
Periodic savings plan
The periodic savings plan allows you to automate your savings. It provides more structure allowing you to choose your savings frequency ( daily, weekly or monthly), amount, and withdrawal date. It is perfect for mid to long-term continuous savings like rent, travel, or big purchases like cars. Interest is set at 10 -15% per annum
Fixed savings plan
Fixed saving plans are used to save a lump sum of money for a minimum of 3 months or up to 12 months. Funds can be withdrawn at maturity or rolled over maturity. The interest rate of fixed saving plans vary by tenure
3 months at 10.50% p.a
6 months at 10.75% p.a
9 months at 11.00% p.a
12 months at 11.50% p.a
Halal savings plan
The halal savings plan is designed to making saving easier and more accessible for members of the Muslim community. Just like the periodic plan, it also allows the automation of savings. It provides more structure allowing you to choose your savings frequency ( daily, weekly or monthly), amount, and withdrawal date. This plan is also interest-free
How to create a saving or investment plan
Step 1 — Login to your kobopay account
Step 2 — Select “VAULT” on your home page
Step 3 — Select “CREATE VAULT”
Step 4 — Choose a vault plan
Step 5 — Name your plan
Step 6 — Enter your vault detail
