If you want to know if cash box is legit then you are on the right page that will give you all the necessary information about cash box.
In the past If you were a regular income earner looking to save money for an eventual rainy day the only thing you had to do was engage the help of regular thrift collectors. But the way we live our lives has changed. there aren’t many everyday thrift collectors, and even if they are, they’re hard to find with a trustworthy person nowadays. This review will highlight the CashBox Nigeria brand. CashBox Nigeria review, we take a look at the Fintech business that is trying to help promote saving culture and to effectively replace thrift collectors with the latest technology.
Table of Contents
What is CashBox Nigeria?
CashBox is a smartphone app which helps anyone “Make saving a habit”. Think of it as an everyday thrift savings early in the morning and instead of waiting until the cashier will turn to your door and mark your card each day you are able to cut back on your spending with a simple and user-friendly interface.
The app is about financial discipline, and the idea that small drops of water will eventually make an enormous ocean.
How do I use CashBox?
Create an account
- Install CashBoxNG, the CashBoxNG mobile application from the Google Play Store and create a free account with your complete name, email and telephone number. Select any of the savings plans available and begin saving. Customers can start saving as little as N100 or up to the limit that users choose to save.
- Choose a savings programAdd Your ATM/Bank cards to your account and CashBox will take your money from your banking account every day, weekly, or monthly for the amount you have set that you have set and then save it into the CashBox saving plan. Customers earn between 15% and 15% in interest p.a according to the plan chosen and the savings balance.
- You can withdraw your money regularly CashBox is about creating a healthy habit of saving. They encourage customers to save for as long as they can and to avoid the temptation to withdraw only when absolutely necessary. Certain plans do not permit withdrawals until the time of maturity (Target Vault, Target and Cliques). Some plans let users withdraw at any time as well as on days of free withdrawal (Mar 1st 1, June 1, Sept 1st, and December 1st).
CashBox interest rates
If you’re saving to save for your future needs, you will naturally expect that your savings to earn an interest rate that will motivate your savings to increase. These are the various savings plans you can choose from on CashBox and the amount you can expect to earn in interest:
- TargetThis plan lets you save consistently (daily/weekly/monthly) towards a set goal while earning up to 10% p.a on your savings. You can withdraw your funds at the date of maturity.Recommended for savings that are disciplined towards a specific goal (education rental, vacation or other).
- RegularAuto save regularly (daily/weekly/monthly) and also earn up to 10% p.a. on savings. The withdrawal process is simple to complete at once, and on our days of free withdrawal which are once per quarter, while limiting the amount of withdrawals allowed to twice during the course of a quarter.
- VaultThe plan can be customized as a fixed deposit account which earns 10-15 10% p.a according to the tenor you select. Savers can secure funds for 90 days or more and earn interest in the beginning. The withdrawal process is triggered upon the plan’s maturity.
- CliquesSave up in bits with friends, family and colleagues to reach the goal you have set. You can earn up to percent p.a for savings. While savings is done jointly but no one is able to gain access to your savings except you and only you. This is similar to an old-fashioned cooperative system however, it is much more enjoyable and secure, and encourages all to adopt an attitude of saving.
Is CashBox real?
Absolutely, CashBoxNG does not represent a fraud, the application is operated by Cashbox Global Services Limited with the registration number (RC1529133). The address of their office is G18 Millenium Estate, Oniru, Victoria Island 101242, Lagos.
FAQ
What’s the CashBox Interest rate?
You can earn up to 10 per cent rate of interest p.a on (Target Regular and Swift)) or up to percent in interest p.a for (Vault). Interest is paid daily to (Target Regular, Target, Swift, Cliques). For (Vault) the interest is earned in the beginning.
How secure is it? CashBox?
CashBox was designed with Bank Grade security features. Your card and personal information are protected as all transactions are handled by Flutterwave as well as Paystack which is one of the most advanced technology for payments worldwide that top companies such as Uber, Booking.com, MTN, Bolt, Nairabet and numerous others use.
Is it possible to withdraw my money anytime?
CashBox is a platform for saving which encourages financial discipline which is why they encourage their users to save to the maximum extent possible while earning high-interest on it. They also allow withdrawals only when absolutely necessary. Certain plans do not permit withdrawals until the end of the term (Target Vault, Target, and Cliques). Some plans permit users to withdraw at any time for the rate of 5% penalty and on no-cost withdrawal days specified by the user free of cost. This means that you can withdraw possible to withdraw up to two times within one quarter.
Conclusion
If you’re a frequent earner, for instance you own an online shop or an ongoing source of income Then this app is the perfect match for you. CashBox will allow you to save and manage your spending habits while also offering you a lot of interest on your savings.