Savings
How does Instance Savings work?
  • Savings are specific amount of money deducted from your default wallet into another wallet, the Savings Wallet
  • Instance Savings plans are nicely pre-packaged products that save you the stress of setting up your own savings plans.
  • You can edit your Savings plan mid way. Amount and the interval of deduction can be edited. You might have set up your savings to be 10,000 naira every month, you could decide to change it to 5,000 naira every week.
How many savings plans can I create?

On Instance we have pre packaged you some savings plans to make things easy for you. All you have to do is activate the savings package of your choice.

How many savings plans are on Instance?

There are 3 pre-packaged savings plans on instance:

  • Silver Plan
  • Gold Plan
  • Platinum
How can I setup a savings plan?

All you have to do to setup a savings plan is to choose a savings package and click on fund to activate the savings package of your choice.

Can I edit my savings plan after activating them?

Yes, you can edit the amount you would like to be saving and the interval (Daily, Weekly, Monthly).

When do I start earning returns on my Savings?

Interest is calculated on savings every 24hrs.

What is the highest returns I can earn on my Savings?

You can earn up to 8% per annum on your savings plans

Can I withdraw out of my savings anytime?

Yes, however, if you withdraw from your savings when the withdraw window is not yet available for your Savings plan, you incurr an early savings withdrawal penalty.

Do I incur a penalty for closing my Savings Plan earlier than the right closing date?

Yes, there is a penalty for closing your savings early. It’s there to discourage you from closing your Savings and not meeting your financial goals.

Still have questions?

If you can’t find answers to your questions in the FAQ section, you can always contact us. We will get back to you shortly.

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