OPay launches N77m Savings Festival, offers 27% interest

OPay has launched a 49-day savings campaign aimed at encouraging Nigerians to develop consistent saving habits while earning returns on their money.

The 7 Savings Festival, powered by OWealth, will run from August 10 to September 27, 2026. The campaign allows customers to create Target Savings plans between N77,000 and N777,000 and save towards their financial goals.

Customers who complete their savings targets without making an early withdrawal will earn interest at 27 per cent per annum, with daily interest, and qualify to share in an additional N77 million interest pool.

The initiative comes amid rising living costs that have made it increasingly difficult for many Nigerians to save consistently.

OPay said the campaign was designed not only to offer financial rewards but also to encourage Nigerians to make saving a regular habit.

Commenting on the initiative, OPay Chief Commercial Officer, Elizabeth Wang, said, “The OPay 7 Savings Festival reflects our commitment to helping Nigerians build stronger financial habits. By saving consistently towards their goals, customers can enjoy rewarding benefits, including an interest rate of 27% per annum, while building financial confidence on a platform they can trust.”

The company said the campaign also reflects a broader shift in digital financial services, from simply helping customers make payments to providing tools that encourage saving and financial planning.

Built around OWealth, OPay’s digital savings platform, the campaign allows customers to monitor their savings goals, track their progress and view their rewards throughout the period.

To participate, customers are required to log into the OPay app, access the 7 Savings Festival page and create a Target Savings plan between N77,000 and N777,000.

New Target Savings plans can be created until September 20, while final interest earnings and distributions from the N77 million additional interest pool will be made on September 27.

OPay said the initiative is part of its broader effort to promote financial inclusion and improve financial well-being by making saving more accessible and rewarding.

Established in 2018, OPay provides digital financial services including money transfers, bill payments, card services, airtime and data purchases and merchant payments.

The company said it is licensed by the Central Bank of Nigeria and its customers’ deposits are insured by the Nigeria Deposit Insurance Corporation under the applicable deposit insurance framework.