How to Lock Money on PalmPay

In my previous blog post, I talked about “how to lock money on OPay“. In this article, I will discuss how you can lock/fixed-save your money on the PalmPay App without hassle.

Unlike OPAY, there are two Savings plans on the PalmPay App; The Fixed Savings Plan and The Flexible/Cashbox Savings Plan.

However, with Fixed Savings Plan, you can lock your money on PalmPay with ease. Here’s how:

Lock Money on PalmPay

Here’s how to lock your money on PalmPay App in Nigeria:

• Login to your PalmPay App on Android or iPhone
• Tap on “Savings” and you will see the “Fixed Savings Products.” E.g, earn 20% interest par annum for a duration of 365 days.
• Now, select your “Saving Plan” and enter the “Amount” you wish to lock.
• Select your state of residency and name your savings plan
• Now, review your plan and tap on “Lock” to simply fixed save your money on the PalmPay App.

However, it’s important to let you know that money locked cannot be withdrawn until it reaches the maturity date that you set.

Furthermore, you should note that PalmPay’s Deposits are insured by the NDIC and the fintech app is licenced by the Central Bank of Nigeria (CBN). Hence, you don’t have to worry about fraud or thinking about if your money is safe with PalmPay.

How to Save Money on PalmPay

There are various ways to save money on your PalmPay App. A typical example of Savings mode on PalmPay is the Fixed Savings Plan I just explained above.

Another way to save money on PalmPay app is through CashBox Savings Plan. Furthermore, you can also save money through auto save on PalmPay.

Whatever way you choose to save money on PalmPay App, do note that you will earn interest on your savings and your funds are insured by the Nigeria Deposition Insurance Cooperation (NDIC).

Final words

Locking Money on PalmPay is easy with Fixed Savings Plan on the App. Just follow as explained in this article and you will get your money locked on the app and earn 20% interest on your savings.

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