Whoever said you cannot have your cake and eat it too never sought creative ways to grow their money using the PalmPay Flexible Savings.
Also known as Cashbox, the PalmPay Flexible Savings is a financial product designed to empower users with a flexible and rewarding way to save money.
As part of its drive for financial literacy among the unbanked community, PalmPay through this savings feature promotes prudent financial habits and economically empowers Nigerians to achieve their financial inclusion goals.
Unlike traditional savings accounts with low interest rates, the PalmPay Flexible Savings with up to 20 percent interest rate allows users to make money and save simultaneously, serving as an attractive alternative to traditional savings accounts.
This feature is attractive because Nigerians usually earn up to 4.2 percent interest on their savings deposits with a traditional savings account which makes the 20 percent interest rate offered by the PalmPay Flexible Savings better by a mile.
Traditionally, savings accounts are set up to function strictly as a warehouse to store one’s money, the reason for the low interest rate. Also, whatever interest is gained from traditional savings is usually lost to bank charges.
Savings deposits have never been attractive as an interest-yielding financial product other than to be used for saving seed money to start a business idea or to be used to pay for things like house rent and probably purchase a car.
The PalmPay Flexible Savings is different. More than having the highest interest rates in the financial industry of daily payouts, users can watch their savings grow daily while having the freedom to access their funds whenever needed.
Interest is paid to users’ flexible savings accounts every morning, with no minimum amount to participate, while users are empowered to tailor their savings strategies to align with their unique financial goals and timelines.
Aside from providing customers with daily interest payouts, users’ deposited funds remain accessible for withdrawal at any time without penalty.
Interest is calculated on the Cashbox balance, with earnings applied to both the principal amount and the accumulated interest from previous savings.
The savings feature empowers users, regardless of their income bracket, with access to high-yield returns, accelerating their journey to financial freedom by offering them an effective way to build their financial stability and grow their wealth.
A stand-out feature of the PalmPay Flexible Savings is its auto-save function that automatically transfers any deposited funds into the user’s Cashbox, with the savings balance then used directly to make transfers and bill payments.
This eliminates the need for manual funding and withdrawal, allowing users to streamline their savings journey and enjoy effortless wealth accumulation.
Saving has never been this rewarding. If you’re not already using PalmPay and want to save and grow your money, download the app via https://bit.ly/4805x0k or visit our social media platforms @PalmPay Nigeria for more information.