Inflation over time increases the price of goods and services and this leads to a decrease in the value of your money. For example, you may not be able to purchase for the same price today, goods or services you paid 5 Naira for 10 years ago.
Saving and Investing with Renmoney
If you have some money sitting in your bank account or are expecting a considerable amount from business, bonuses, etc., a good way to earn more on your money is to place it in high-yield financial plans or instruments. With a Renmoney Fixed Deposit account, you can start with as low as N10,000, and enjoy an attractive interest rate.
You can also save towards goals that mean a lot to you — like a holiday, your dream car, rent, etc., and earn more on your savings starting with as little as ₦1,000. A bonus of saving is that over time, you’ll build a consistent savings habit in line with your budget and personal goals.
How Renmoney Fixed Deposit works:
- Start a Fixed Deposit: Choose how much you want to invest and for how long
- Share your details: Share some information about yourself.
- Start Earning: Fund your Fixed Deposit and start earning more on your money.
How Renmoney Savings works.
- Choose a savings approach: You can either save towards a goal with ‘Smart Goal’ or save what’s convenient for you with ‘Save Easy’.
- Share your details: Share information about yourself with us — like how much you’d like to save and how long.
- Start Earning: Fund your savings account and start earning more.
Other things you should know about your investment.
- You can always increase your investment amount. The sum of your old and new investments will be re-invested for the tenure you choose.
- Your investment is safe with Renmoney. We are regulated by the Central Bank of Nigeria (CBN) and insured by Nigeria Deposit Insurance Corporation (NDIC).
- You can visit renmoney.com or our mobile app to view and manage your savings & deposits by yourself.
The Renmoney Team