Looking to put your money where your heart is?
AltInvest wants to help you invest in the best ethical sectors, where your money can make a meaningful impact for the world.
But then is your money best utilized this way?
In this article, we’ll look at what AltInvest is proposing as a digital investment platform in Nigeria and if you should invest with them.
Let’s get started.
What Is AltInvest All About?
AltInvest is offering an alternative investment vehicle for investors who are not just looking to make returns but impact with their money.
The platform is targeting a different kind of investor whose primary aim is to utilize capital towards impacting real sectors.
Many investors who for religious, moral and ethical reasons do not want to engage in cash and grab investing are already warming up to the AltInvest idea.
How Does AltInvest Make Money?
The platform makes money by investing in real sectors that have impact in communities and people.
So far on the AltInvest app, there are opportunities for investing in ethical bonds and REITs.
How to Invest in AltInvest?
To start investing with AltInvest, you have to download their mobile app, register an account, and do your KYC which includes providing your BVN.
Once you are in, you can fund your AltInvest wallet and start investing in the portfolios on offer.
The minimum investment amount is 10,000 Naira, so make sure you have up to that before trying to invest on the platform.
How Much ROI Does AltInvest Offer?
The ROI on offer on the AltInvest platform varies.
Currently, their lowest ROI is 5% from REITs while their highest ROI is 7% from ethical bonds.
Obviously, these interest rates could improve overtime as AltInvest provides more offers on the platform.
Is AltInvest Legit or Scam?
The platform seems legit.
So far as I can tell, It’s a product of Sterling Bank PLC, one of the NDIC-insured banks in Nigeria.
So, investors are rest-assured that their money is in good hands.
What I Dislike About AltInvest
Well, it’s still a new product, so we’ll have to wait and see.
But if I’m to go gung-ho on AltInvest, I’ll say that their offers need to be more diversified inorder to give investors more options.
What I Like About AltInvest
The most profound thing about AltInvest is that they are offering a very differentiated product for a specific type of investor.
I think it is a perfect platform for religious and ethical folks who are very careful about what they invest in.
With AltInvest, that concern is already taken care of, as the product is designed to match that specific investor needs.
I’d say it’s a bold product coming from Sterling Bank.
Can You Lose Money With AltInvest?
It looks unlikely.
Not only are you investing with a product from a bank that is NDIC-insured, the portfolios on the platform offer guaranteed returns.
With REITs, investors can earn returns via real estate rentals, while the Sukuk ethical bonds provide tenured returns.
Should You Invest in AltInvest?
If you’re an investor looking to invest in ethical and impactful portfolios rather than chasing big returns, then AltInvest is a good place to start.
However, if you’re looking to get the maximum interest on your capital, then the prevailing interest rate on AltInvest may just be too small for you.
All in all, the platform offers the right vehicle for religious individuals and organizations to invest funds the ethical way.