OWealth – OPay’s Flexible Savings and Investment Plan

OWealth is an innovative savings and investment platform integrated into the OPay app, designed to help users grow their money efficiently. With an annual interest rate of up to 15%, OWealth provides a significantly higher return compared to the 5% maximum offered by traditional Nigerian banks. The interest is accrued daily, offering both flexibility and steady growth for your savings.

This platform allows users to invest any amount, withdraw at their convenience, and enjoy the simplicity of managing funds through the OPay app. This article will walk you through everything you need to know about OWealth, a reliable investment solution licensed under Blue Ridge Microfinance Bank Limited.

Understanding How OWealth Works

To better illustrate the profitability of OWealth, let’s compare it with a traditional bank savings plan using two hypothetical investors, Chike and Funke.

Chike’s OWealth Investment:

• Total investment: ₦1,000,000
• Interest: 15% on the first ₦100,000 and 5% on the remaining ₦900,000
  $₦100,000\times 0.15+₦900,000\times 0.05=₦15,000+₦45,000=₦60,000$
• After deducting the 10% withholding tax (₦6,000), Chike earns ₦54,000 in profit, bringing his total withdrawal to ₦1,054,000.

Funke’s Bank Investment:

• Total investment: ₦1,000,000
• Interest: 5% on the entire amount
  $₦1,000,000\times 0.05=₦50,000$
• After the 10% withholding tax (₦5,000), Funke earns ₦45,000, resulting in a total withdrawal of ₦1,045,000.

The comparison reveals that OWealth yields an additional profit of ₦11,000 compared to the bank. Moreover, interest on OWealth is calculated daily, with users receiving their earnings each day, ensuring a steady cash flow.

Unique Benefits of OWealth

1. Daily Interest Accrual
   Users receive daily interest on their investment, making their savings more rewarding. For instance, with an annual profit of ₦54,000, users earn approximately ₦147.94 daily.
2. Flexible Withdrawals
   Unlike fixed deposit schemes at banks, OWealth allows you to withdraw your funds anytime without losing the interest earned so far.
3. Multi-Functionality
   OWealth funds can be used seamlessly for various transactions, including bill payments, transfers, and ATM withdrawals, making it highly versatile.
4. Higher Returns with the Fixed Plan
   For those looking to save beyond ₦100,000, OWealth offers a fixed plan with annual interest rates ranging from 15% to 18%, depending on the duration (7 to 1,000 days). Balances over ₦300,000 also earn between 6% and 9% annually.
5. Convenient Management
   Everything from investing to withdrawals is managed through the OPay app. With just a few taps, users can fund their accounts, subscribe to OWealth, or access their funds when needed.

How to Start Saving with OWealth

Getting started with OWealth is simple:

1. Download the OPay App: Install the app from your device’s app store.
2. Create an Account: Sign up by providing the necessary information.
3. Fund Your Wallet: Add money to your OPay account.
4. Subscribe to OWealth: Click on the “Savings” or “OWealth” option, accept the terms, and enter the desired amount to invest.
5. Start Earning Daily Interest: Watch your money grow with daily interest credited to your balance.

Security and Reliability

OWealth is not a Ponzi scheme; it is regulated and licensed by Blue Ridge Microfinance Bank Limited. The platform prioritizes security through measures such as password encryption and authentication, ensuring users’ funds remain safe.

Final Thoughts

OWealth offers a practical and profitable way for individuals to grow their savings without the restrictions often associated with traditional banking. With daily interest payments, flexible withdrawals, and higher returns, it’s a game-changer in Nigeria’s financial landscape.

Whether you’re a seasoned investor or just looking to make your savings work harder, OWealth is worth considering. Don’t miss out on this opportunity to grow your funds effectively and effortlessly!