PennyTree is a savings, payments and lifestyle gamified super application that helps users keep up with their savings habit and make payment (airtime, and bills). There are no hidden charges for transferring money and recurring debit towards saving on PennyTree.

Based on your convenience, you can decide to save daily, weekly, or monthly. You can also choose your most preferred savings plan and lock funds (Personal Vault).

We make financial discipline fun, enjoyable and easy.

  • To start using PennyTree, visit the website or download the PennyTree App on playstore/apple store.
  • Create an account - (you will automatically get a PennWALLET)
    • Verify your email address
    • You will be required to verify your phone number, and
    • Input your BVN - This is a mandatory requirement by the Central Bank of Nigeria to validate your identity and kick against theft.
  • Add your debit card details (Mastercard, Visa or Verve) and fund your wallet.
  • Choose your most preferred savings plan (Target Savings - enables auto-debit from your account and takes out the stress on manual savings, or Personal Vault - locks down your savings for a specific duration).
  • Pay bills - airtime, utilities. etc

  • Get verified by clicking the ‘verify your email’ column on the checklist,
  • Verify your email address by clicking on the link in your email box.
  • Add your debit card (s) details - VISA, Master or Verve.
  • Add a withdrawal account.

You can start with any amount based on your convenience.

With PennyTree, your interest rate varies from 7%-15% per annum.

To help you achieve your dreams and live your best life, you can create as many savings plans as you want. Users are also allowed to customize their savings plan to suit their savings goals.

You can earn an interest of 3% on your Penn Wallet per annum.

You can keep your savings for a minimum of two (2) months and no maximum duration (for as long as you like)

  • To add more money to your personal vault, click on your personal vault and select the vault category you want to add money to
  • Select the “Fund Button” on the screen
  • Enter the amount and select payment method.
  • Interest on the new principal amount would be added to the interest earned on the previous principal amount.

Personal Vault is a savings feature on PennyTree that allows you to lock your funds for a specific period of time. Note that there is no recurring savings amount on this feature. Your funds are locked and grow based on the set duration.

You can lock your funds in your Personal Vault for a minimum of three months and no maximum duration.

PennyTree is on a mission to make financial discipline easy and fun - you are allowed to create and own multiple vaults i.e there are no limits to the number of vaults you can own.

  • Yes! You have to wait till the set duration to withdraw your savings from your personal vault and target savings. This is to further imbibe the savings discipline into our Penn community
  • While, on your Penn rules savings plan, you can withdraw whenever you want by terminating your wallet but you will lose all the interest accrued on your savings and pay a 1.4% processing fee.

  • Click on the withdrawal button on the homescreen,
  • Enter the amount you want to withdraw.
  • Select bank (Your funds would be sent to the bank you added and selected)
  • Confirm withdrawal by clicking on the “WITHDRAW” button
  • Enter transaction pin/ use fingerprint or face ID to withdraw funds.
  • Your savings would be immediately withdrawn / transferred to your bank account.

  • Yes you can! You can transfer from your Penn Wallet to another PennyTree user’s wallet (account).
  • Select transfer from your wallet.
  • Fill in the PennyTree user’s ID.
  • PennyTree will automatically verify the ID/User by displaying the corresponding User’s name.
  • Confirm payment by clicking on the “Transfer” button
  • Input your PennyTree PIN / Use face ID to confirm payment.

No you can’t! Your user ID is your unique identification code that allows another PennyTree user transfer funds to your account.

Your user ID can be found on your account profile. Copy and Share!

No you can’t! On PennyTree, you can only withdraw your savings to your personal accounts already linked to your BVN and saved on your PennyTree account. This is done to ensure maximum security.

Yes! PennyTree mobile app is available on play store and App store. Click here to download