- 1 Cowrywise Savings Plans
- 2 Cowrywise Features
- 3 How To Withdraw My Money From Cowrywise Before Maturity Date in 2024
- 4 FAQs On How To Withdraw My Money From Cowrywise Before Maturity Date
I’ve seen searches from people looking to know and asking “how to withdraw my money from cowrywise before maturity date”, if you happen to be one of them, then you may have to follow the instructions outlined in this article. Cowrywise is a leading fintech company in Nigeria that offers a wide range of investment and savings plans designed to help individuals achieve their financial goals. The company’s primary focus is to help Nigerians save, invest, and plan for their future.
In this blog post, you will explore the various Cowrywise savings plans and features. I’ll also highlight their savings plans and how they can help you reach your financial objectives and finally tell you what you need to understand about how to withdraw my money from cowrywise before maturity date in 2024.
Ready to get started? If yes, kindly delve in right now.
Cowrywise Savings Plans
Cowrywise Save Plan: This plan is designed to help users save for short-term goals, such as emergency funds, holidays, or a rainy day.
Users can set up a flexible savings goal and Cowrywise will help them reach it by breaking it down into smaller, achievable milestones. The Save Plan offers a 10% interest rate, with users having the option to increase their savings goal or access their funds at any time.
Cowrywise Invest Plan: This plan is aimed at individuals looking to invest in a diversified portfolio of low-risk assets, such as government treasury bonds, fixed income funds, and equities.
The Invest Plan offers users access to a professionally managed investment portfolio that is designed to their risk tolerance and financial goals. Users can choose from various investment options, including conservative, moderate, and aggressive portfolios, with the potential for higher returns.
Cowrywise Pension Plan: This plan caters to individuals who want to save for their retirement, offering a tax-advantaged savings vehicle that allows users to invest in a diversified portfolio of assets.
The Pension Plan is designed to provide a steady income stream during retirement, ensuring financial security for users in their golden years.
Cowrywise Education Plan: This savings plan is tailored for parents and guardians who want to save for their children’s education, offering a flexible and secure way to invest in their future.
Users can set up a goal for their child’s education and Cowrywise will help them achieve it by allocating funds to a diversified investment portfolio.
Cowrywise Health Plan: This savings plan allows users to save for unforeseen medical expenses or future health-related costs. Users can set a goal for their health expenses and Cowrywise will help them achieve it by allocating funds to a diversified investment portfolio.
- Goal-based Savings: Cowrywise allows users to set specific financial goals and provides tailored savings plans to help them achieve those objectives. Users can track their progress and receive regular updates on their savings milestones.
- Diversified Investment Portfolios: Cowrywise offers users access to a wide range of investment options, including low-risk assets such as government treasury bonds, fixed income funds, and equities. This diversification helps to minimize risk and maximize returns.
- Automated Investing: Cowrywise makes it easy for users to automate their savings and investments by setting up recurring contributions and transfers. This ensures that users are consistently saving and investing towards their financial goals.
- Low-cost Fees: Cowrywise offers competitive fees for its savings and investment plans, ensuring that users can maximize their returns without worrying about high management fees.
Now let’s look into what you need to know about how to withdraw my money from cowrywise before maturity date today.
How To Withdraw My Money From Cowrywise Before Maturity Date in 2024
Here’s what you need to understand about withdrawing your funds from your Cowrywise account before maturity date as stated on the Cowrywise blog.
Must Know About Locked Funds and Maturity Date
When you invest in a savings or investment product with Cowrywise, you may encounter the concept of locked funds and maturity date.
What is a locked funds?
Locked funds refer to the portion of your investment that is not accessible for withdrawal until a specified period has elapsed. It could be a month, two months, six months, one year or more.
This period is known as the maturity date. However , the “maturity date” is the date when your investment reaches its full term, and you are entitled to withdraw the entire amount along with any accrued interest or returns.
Based in the Cowrywise terms and conditions, no user can withdraw his/her funds before the maturity.
It’s however, a better idea to explore the options available within Cowrywise’s platform. Some investment products e.g “emergency investment” offer partial withdrawal facilities or early exit options.
In summary, it is impossible to withdraw your money from the locked investment plan until it’s maturity date. However, you’re encouraged to consider saving in the “Emergency investment plan” in case emergency needs if funds arise.
FAQs On How To Withdraw My Money From Cowrywise Before Maturity Date
Here are some helpful frequently asked questions on how to withdraw my money from cowrywise before maturity date with their respective answers:
How do I change my maturity date on Cowrywise?
To change the maturity date on Cowrywise, you can only increase it, and to do so, you need to chat with their customer representative.
They will guide you through the process and help you adjust the maturity date as per your requirements.
How do I unlock my money from Cowrywise?
Your money will automatically unlock when it reaches its maturity date. Cowrywise is designed to ensure that your funds are locked until the maturity date, after which you can access your money.
How do I cancel my Cowrywise plan?
To cancel your Cowrywise plan, follow these steps:
- Log in to your Cowrywise account.
- Navigate to the plan you wish to cancel.
- Click on the “Cancel Plan” button.
- Confirm your decision by clicking “Yes” in the pop-up window.
Can I withdraw all my money from Cowrywise?
Yes, you can withdraw all your money from Cowrywise, but only on the maturity date of your plan.
This is to ensure that your funds are locked until they reach their intended maturity date, providing you with the best returns on your investment.
Can I lose money on Cowrywise?
Yes, you can lose money on Cowrywise. As with any investment, there is always a risk of loss.
Cowrywise states specifically that you can lose money, so it is essential to understand the risks involved before investing.
To minimize the risk, Cowrywise offers a diversified portfolio of investment options, which can help spread your risk across different asset classes.
However, it is still important for you to carefully consider your risk tolerance and investment objectives before investing in Cowrywise.