Purpose:
To guide members through setting up their first structured savings plan inside Monivest Cooperative, with clear rules, lock periods, and profit returns.
Title: Building Your First Cooperative Savings Plan
Category: Welcome & Launchpad
Section: First Investments
Overview
Savings on Monivest is not just storage — it is structured cooperative capital building.
Members can create disciplined savings plans that lock funds for 30–90 days and earn monthly interest of up to 5% depending on plan type and duration.
Open: https://app.monivest.ng/user/savings/index
Here you will see all existing plans and the option to Create New Plan.
Monivest offers three cooperative savings models:
Savings Type | Description |
|---|---|
Target Savings | Save gradually toward a goal or purchase |
Fixed Savings | One-time deposit locked for a set period |
Dou-Savings | Hybrid model combining target + profitability structure |
Each plan supports lock periods of:
30 days · 60 days · 90 days
The longer the duration, the more structured the return viability within cooperative policy.
Funding is done using your Monivest wallet balance.
Wallet can be funded automatically via your assigned bank account.
Savings contribution itself is manually moved from wallet into your plan.
(No direct bank-to-savings automation yet — wallet serves as the gateway.)
Savings plans currently earn interest-driven cooperative returns — typically around 5% monthly, depending on policy, duration, and plan type.
Your returns are credited at maturity or rolled over when you reinvest.
Withdraw to your verified beneficiary bank account, OR
Reinvest into a new cycle for compounding growth
Savings plans are part of regulated cooperative finance.
All inflow must have traceable intent — Monivest does not allow wallets to be funded just for withdrawal without cooperative activity.
Diversify: Run a Target savings and a Fixed savings simultaneously — one for goals, one for returns.