In an era when achieving financial goals is challenging due to the high cost of goods and services, you want to ensure you are totally in control of your finances via savings to deal with the unexpected at any given time.
If any financial technology can enable you to improve your saving habits, it would be Earnipay. In this article, you’ll learn about the role of Earnipay in helping you save easily, the options available on Earnipay, and the benefits of using Earnipay’s automatic saving features.
How Earnipay Simplifies Saving for You
With our automatic savings feature, you can set up a fixed amount of money to be withdrawn from your earned salary to your savings account daily, weekly, or monthly. By doing so, you cultivate a savings culture, prepare for unexpected expenses, and progress toward achieving your financial goals. Sounds impressive? You can get started by downloading the app here.
Earnipay’s Automatic Savings Feature- Goal Savings
You can quickly achieve your long-term financial goals with this automatic savings feature. For instance, if you plan to make a down payment for a landed property, using the goal savings enables you to achieve this goal.
This savings option offers up to 15% annual interest on your savings. To calculate the daily interest earned on the amount saved, divide 0.15 by 360 (the number of days in a year) and multiply the result by 100, which yields 0.04166%. This means you’ll receive 0.04166% interest on your savings amount each day
Options Available on Earnipay
Earnipay offers a robust savings app in Nigeria designed to help you manage your finances effectively. By providing a user-friendly platform, Earnipay makes it simple for you to set and achieve your savings goals. Whether you are saving for a major purchase, an emergency fund, or future investments, Earnipay’s features ensure you stay on track.
Earnipay provides a variety of savings options tailored to your needs. These include target savings for specific goals, flexible savings for general purposes, and emergency funds to cover unexpected expenses. With these options, you can plan and save more effectively, ensuring that you are prepared for any financial situation.
Benefits of Using Earnipay’s Automatic Saving Features
One of the standout features of Earnipay’s savings app in Nigeria is the automatic saving functionality. By setting up automatic transfers from your checking account to your savings account, you can save money consistently without even thinking about it. This automation helps you develop better financial habits and ensures that your savings grow steadily over time.
Additionally, Earnipay offers competitive interest rates, providing up to a 15% annual return on your savings. This means your money not only stays safe but also grows faster, helping you reach your financial goals more quickly.
Benefits of Using Earnipay’s Automatic Savings Feature
Our automatic savings feature allows you to set up a recurring fixed amount from your earned salary to your savings account, and its benefits include the following:
- Enables you to build a savings culture
Daily savings instill a sense of consistency and discipline in your financial habits. By setting aside a small portion of your income each day, you develop a regular saving routine, reinforcing the importance of financial responsibility.
- Saves time and effort
Setting up recurrent money transfers from your earned salary automatically can allow you to focus on other pertinent aspects of your life, like investing or budgeting. This hassle-free approach allows you to streamline your financial goals and priorities with ease
- Guarantees maximum security for user’s data and money
Because we know the importance of security to protect our user’s data and money, we incorporate 256-bit AES bank-level encryption to save users’ data and money.
- Prevents impulsive spending
You can safeguard yourself from impulsive spending by automatically transferring your money into a savings account at the scheduled time and date. This proactive approach aids in monitoring your savings progress and acts as a barrier against spending impulsively on unnecessary items
Frequently Asked Questions
Can I change or cancel my auto-save contributions?
Yes, you can change the amount or frequency of your auto-save contributions or cancel them anytime.
How does the automatic savings feature work?
Our automatic savings feature allows you to automate the deduction of a set amount of money from your earned salary to your savings account daily/weekly/monthly. You can set the amount and frequency of your auto-save contributions. Also, you need to have saved for a minimum of 90 days before you can cancel else it attracts a breaking fee.
For Flex savings, you can save for a minimum of 1 month and withdraw after that.
Can I set multiple savings goals?
You can set multiple savings goals and monitor their progress individually. With the ability to track each plan separately, you can stay focused and organised as you work towards achieving your financial objectives.
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