All Collections
How referral bonuses work on Cowrywise
How referral bonuses work on Cowrywise

Get your friends on the right side of money and earn a bonus 🎉

Ope avatar
Written by Ope
Updated over a week ago

There is a popular African proverb that says, "If you want to go fast, go alone. If you want to go far, go together". It is common knowledge that birds of a feather flock together and that being in a circle or a community with a common goal is super important. You see, a group isn't really a group if the dividends don't go round right? So, don't wait for your friends to ask you to cut soap for them.

What's the catch? How about you empower individuals in your circle to go where their money grows by introducing them to Cowrywise through our referral programme. You save some expense while at it 😉

This is how it works:

Referral bonuses are a way for you to earn rewards when you refer a friend to save on Cowrywise; you get a fee waiver, your friend gets one as well. What are fee waivers? Fee waivers allow you invest in any Naira mutual fund on Cowrywise for free! plus they are valid for 90 days

Ideally, we charge a 1.5% processing fee on deposits made into your mutual fund investments. However, with this fee waiver, you’ll get to pay absolutely nothing in charges for every investment you make in Naira! Zero

A quick example:

Say you wanted to invest NGN50,000 in the SFS Fixed Income Mutual Fund, you’d be paying this in total:

(1.5/100 x 50,000) + 50,000 = 50,750

With the new referral bonus, the NGN750 fee will be waived, you’ll only need to pay in NGN50,0000. No fees. No charges. Save cost!

What do you need to do?

You’ll need to share your referral code with your friend and get them to start saving. Soon as they have saved up to NGN5000 in a locked plan, you’ll each get one fee waiver immediately.

Do you want to know the best part? When you refer a lot of friends, you get to diversify your investment portfolio at no charge. There’s no waiting time as well, you can enjoy these fee waivers on the go! Remember though, fee waivers are only valid for 90 days, so get moving!

Our app allows you to share your referral link across different platforms, keep a tab on your signups and fee waivers. Do you know how to access this on the app? It's pretty easy, you can access this in 3 steps;

  • go to your profile

  • select "referral" to view and share your referral code

  • click on "view referral performance" to keep a tab on your referrals

That's it!

We would love for you to be rewarded accordingly when you share the gospel of Cowrywise. Please get familiar with our terms and conditions. It will only take a minute, promise 💙. You can find them here

Thank you for trusting us 🤗

Did this answer your question?