Savings & circles · 3 min read
Saving with Rainpay and earning up to 12%
Pick a tenor, lock your money, and see exactly what you will earn.
A savings plan puts money aside for a fixed period and pays interest at maturity. The longer the tenor, the higher the rate — up to 12% a year.
- 1Open Savings and tap New plan.
- 2Choose a tenor. Rainpay shows the rate and the exact amount you will receive at maturity.
- 3Enter the amount and approve with your PIN.
- 4At maturity your money and interest land in your wallet automatically, with a mail to confirm.
Taking money out early
You can break a plan before maturity, but a penalty is taken off the interest earned — the amount is shown before you confirm, so there are no surprises. Your original savings are never reduced by more than the stated penalty.
Rainpay is a financial technology company and is not a bank. Banking, payment and deposit services are provided by licensed financial institutions and licensed payment service providers regulated by the Central Bank of Nigeria, currently Beamer Microfinance Bank, Platnova and Red Biller Technologies.