A CBN-licensed, NDIC-insured digital bank — free-ish banking, flexible & fixed savings (to ~12%), US-stock investing, plus personal loans and overdrafts. Deposits insured; the stock-trading side is not.
All plans 2
PlanTypeRate p.a.LockMinEarly exit
FrequentFEATURED
flexible
8%nominal, gross
None
₦1,000
withdraw >20% of your goal amount → FORFEIT ALL accrued interest; full early withdrawal → lose all interest + plan auto-deleted
Fixed Save1mo 12%2mo 12.05%3mo 12.1%4mo 12.17%5mo 12.27%6mo 12.38%7mo 12.52%8mo 12.7%9mo 12.92%10mo 13.2%11mo 13.56%12mo 14%
locked
up to 14%rate varies by tenure — see laddernominal, gross
30–365 days
₦5,000
lose all accrued interest.
Each tracked plan is tested with its own real-money deposit and ranks separately on the board. Untracked plans show the app's own advertised rate.
Best for
People who want a real, NDIC-insured bank in an app — free-ish transfers, insured savings with a clear flexible-vs-fixed choice, and optional US-stock investing and short-term credit, all in one place.
Not great for
Anyone chasing the highest yield (a dedicated SEC money-market app like Ladda/PiggyVest pays more), anyone who needs to dip into savings often (Flexible forfeits interest past 20%), or anyone tempted to carry an overdraft (daily rate annualises very high).
Pros
- +Genuinely a bank — CBN-licensed, NDIC-insured deposits (to ₦2m), so savings are capital-guaranteed in a way SEC-platform "savings" are not
- +One app covers banking, insured savings (flexible + fixed), US-stock investing, and credit
- +Transparent, bank-level loan pricing (2.5%/mo) — far below payday-app effective rates
Cons
- –Yields trail dedicated savings platforms (Flexible ~8%, Fixed ~12% vs 15–21%+ on SEC apps), and Spend+Save pays 0%
- –Interest is fragile — Flexible forfeits ALL interest past a 20% withdrawal; Fixed forfeits ALL interest on any early exit
- –Overdraft daily rate (0.23–0.8%/day) annualises to ~84–292% if carried; "Investments" is uninsured single-stock US equity risk inside a bank app
Our honest take
Kuda is first a bank, not a yield platform — and that's the point: its savings are NDIC-insured and capital-guaranteed (to ₦2m), which Ladda/PiggyVest can't offer. The trade-off is lower headline rates (Flexible ~8%, Fixed ~12%) and some fragile-interest rules (lose all interest past a 20% Flexible withdrawal, or on any Fixed early exit). Two things to read past the marketing: the overdraft's "0.23–0.8% a day" is a very high annualised cost if you carry it, and "Investments" is uninsured US single-stock trading sitting inside an insured bank app. Used as an insured everyday bank with a fixed-savings top-up, it's solid; used as a high-yield or credit tool, check the effective numbers first.