₦5,000 - ₦500,000
Loan Amount
3-10%
Monthly Interest
30-90 days
Repayment Term
Instant
Approval Time
Pros & Cons
Pros
- ✓Lower rates for savers
- ✓Combines savings and loans
- ✓Easy to use app
- ✓Rewards consistent savers
- ✓Investment options too
Cons
- ✗Must save first to borrow
- ✗Loan tied to savings balance
- ✗Lower limits than competitors
- ✗Not for non-savers
How to Apply for Cowrywise Loan
- 1
Download Cowrywise app
- 2
Start saving regularly
- 3
Build savings history
- 4
Access loan feature
- 5
Borrow against savings
User Reviews
T
Tolani A.Verified
Lagos
January 2025
Love Cowrywise. I save with them and get low-interest loans when needed. Best of both worlds!
Frequently Asked Questions
Do I need to save to get Cowrywise loan?
Yes, Cowrywise loans are primarily for users with active savings. Your loan limit is based on savings history.
Quick Info
- Founded
- 2017
- Headquarters
- Lagos, Nigeria
- CBN Licensed
- Yes
- Disbursement
- Instant
- Last Updated
- 2025-01-19
Requirements
- •Cowrywise account
- •Active savings history
- •Valid BVN
- •Good savings track record