Tips Finance

Is Owealth Legit? How Safe And Secured Is Owealth, A Saving And Investment Platform On Opay

If you need to verify if Owealth is Legit and how safe or secured Is Owealth as a savings and investment platform on Opay, you are on the right page. Currently, OWealth as a saving and investment platform that is added to OPay App is becoming really popular in recent days. In this article we will look into the legitimacy, security, and advantages of OWealth, we will also analyze why it has become a good financial opportunity in Nigeria.

OWealth is a financial solution offered by OPay that allows users to save and invest their funds with the promise of substantial returns. Unlike our normal Nigerian banks, which usually offer up to 5% annual interest, OWealth promised an attractive fixed interest rate of up to 15% per year. This platform is designed to empower investors by providing them with an avenue to generate income from their savings.

Comparing OWealth’s Interest Rates with Traditional Banks

The only difference between OWealth and our regular banks lies in their interest rates. While traditional banks offer a maximum of 5% annual interest on savings, OWealth provides a remarkable 15% per annum for the first ₦100,000, and 5% per annum for the remaining balance. This difference between them opens up the opportunity for users to get higher returns on their investments.

Calculating Returns on Investment: OWealth vs. Traditional Banks

To illustrate the benefits of OWealth over our regular banks, let’s just consider an instance where two investors, Abel and Kayode, each invest about ₦1,000,000 for a year. Abel utilizes OWealth, while Kayode goes for a bank with a 5% interest rate.

Abel’s OWealth returns: ₦1,000,000 × 0.15 + ₦900,000 × 0.05 = ₦60,000
Kayode’s bank returns: ₦1,000,000 × 0.05 = ₦50,000

After accounting for the 10% withholding tax on interest earned, Abel’s net return amounts to ₦54,000, while Kayode’s nets ₦45,000. This substantial difference of ₦9,000 highlights OWealth’s potential for greater returns.

Daily Interest Crediting and Flexibility

One of OWealth’s standout features is its daily interest crediting, providing investors with incremental gains. For instance, in the example above, Abel would receive approximately ₦147.94 daily. Moreover, OWealth enables users to withdraw their funds without forfeiting accrued interest, a feature unavailable in traditional fixed deposit schemes.

Benefits of OWealth Beyond Interest

OWealth’s advantages extend beyond its attractive interest rates. Users can easily utilize their OWealth balance for bill payments, transfers, and even POS and ATM transactions using the OPay ATM card. This easy access affords users the best of both worlds: high-interest earnings and convenient liquidity.

Maximizing Savings with the Fixed Plan

For those looking to amplify their savings, OWealth’s Fixed Plan offers compelling options. Interest rates ranging from 15% to 18% per annum are available based on the chosen deposit duration, spanning 7 to 1000 days. Additionally, larger deposits, such as ₦300,000, enjoy higher interest rates.

The Legitimacy of OWealth: Licensed Investment Scheme

Concerns about legitimacy are natural when it comes to online investments. OWealth, however, operates under the license of Blue Ridge Micro Finance Bank Limited, they make it look legit with its status as a licensed investment scheme and not a Ponzi scheme.

Getting Started with OWealth: A Step-by-Step guide to use this platform

To make use of the platform for your investment, you have to follow these simple steps in Owealth:

Download and Install OPay App, you can get the OPay App from Play Store or app store on iPhone.

Sign up and create your account, get the complete profile yourself to get your account set up.
Next is funding your OPay Account, just add funds to your OPay wallet through the normal process.
Subscribe to OWealth feature in the Opay dashboard and agree to the terms.
Next is the real investment, invest your desired amount to kickstart your earnings.
Managing and Withdrawing Funds after making a profit is last but not least, Keep track of your investment details and withdraw funds as needed.

How to improve your finance management with Owealth

OWealth is not just a tool for investors; it is also good for financial management. By providing access to high-interest investments, OWealth empowers individuals to make use of their funds and make good financial decisions.

Making use of this available opportunity to increase your finances

The possibility to increase your money by 15% should not be underestimated in this Nigerian hard economy. Understanding investment opportunities and acting on them can yield good gains, and Owealth is not an exception.

I will encourage you to make use of this opportunity currently because it might be shut down later as nothing is impossible under heaven, though the platform is not planning to fold anytime soon.

Overcoming Emergencies with OWealth

Emergencies will always affect your investment journey, but this shouldn’t be so. OWealth’s flexibility allows you to withdraw funds and earned interest even before a year has elapsed, providing you with the financial backup needed during unforeseen expenses.

Conclusion

OWealth being added as a saving and investment platform within the OPay platform brings new space for financial opportunity. Its good interest rates, daily interest crediting, and flexibility make it a game changer in Nigerian financial platforms. By embracing OWealth, investors can secure their financial future while enjoying the convenience of liquidity.

Frequently asked questions about Owealth and investment

Most of these questions have been answered in the article, but this section is just for a direct answer to the questions in case you didn’t get it while reading the article.

Is OWealth a legitimate investment platform?

OWealth operates under the license of Blue Ridge Micro Finance Bank Limited, making it a licensed investment scheme and a secure avenue for investment.