Fundall Review: The All In One Savings Investment App?

Fundall is offering Nigerian investors the chance to save and invest in naira and dollars, while earning reasonable returns.

Through the fundall app, users can perform a range of financial services as well as save for the short-term.

However, the question remains, how does fundall compare with other top Fintech apps offering similar savings and investment products?

In this review, we’ll look at some of fundall’s features for saving and investment to help us know if the platform is a good option for putting our money to work.

Let’s get started.

What Is Fundall All About?

True to its name, fundall is offering almost every financial technology service you could think of.

From bills payments and transfers, to savings and loans.

It seems that this fintech is on a mission to offer every financial service needs for today’s fast paced banking customers.

Through a purpose-built personal finance app, they are offering a platform where anyone could save and invest towards personal and group target goals.

What Savings and Investment Product Does Fundall Offer?

Fundall offers two distinct savings products in Naira and dollars.

Regular Naira Savings 

With Regular Naira Savings on Fundall, you can invest for reasonable annual returns, payable on the investment tenure.

Regular Dollar Savings

With Regular Dollar Savings on Fundall, you can invest in dollars and keep your money diversified. The regular Dollar Savings on Fundall offers competitive interest rates.

How Does Fundall Make Money?

Fundall is first a financial services platform, so they make money by offering a host of Fintech services such as bills payment, loans, and virtual dollar cards.

For example, when you save on Fundall for 7% interest per annum, the Fintech could loan out your money to other customers and make over 200% interest per annum.

They then share that derivative income with savers and investors on their platform.

How to Invest With Fundall

To start saving and investing with Fundall, you have to first download and install their mobile app, then you do your KYC to get verified on the platform.

Once you are verified, you can make your first deposit and start saving and investing.

The minimum investment tenure on Fundall is 1 month, with a minimum investment amount of about $5.

How Much ROI Does Fundall Offer?

Fundall claims to offer up to 7% ROI for its regular naira savings and regular dollar savings products.

They also claim that customers saving in dollars should realistically expect a ROI of about 3% per annum.

So, this means that investors are not offered guaranteed returns. What you get out of fundall might depend on how long you save on the platform.

Is Fundall Legit or Scam?

The company looks somewhat legit.

According to Crunchbase, Fundall received major funding and was acquired by Emerging Africa Group, which is a reputable venture capital firm focused on investing in the finance space.

So, that partnership can serve as a major clout for Fundall as a Fintech company that is at least worth giving a try.

What I Like About Fundall

The biggest deal about Fundall is that they offer an all-in-one Fintech app.

They operate like a combination of some of the popular fintechs in Nigeria by offering financial services that cuts across the yearning needs of today’s finance customers.

If you want a Fintech app that offers almost every financial service that you’ll ever need, then Fundall might just be it.

What I Dislike About Fundall

In my opinion, this fintech’s biggest advantages seems to be its biggest drawback.

Fundall comes across like a financial services reseller that is positioned to make commissions by offering third party Fintech services.

Their ROI seems to be on the low side, with their naira savings offering up to 7% and their dollar savings offering 3% on average.

As a saver, you could get a better deal on your money with one of the leading fintechs in Nigeria even with your eyes closed.

Can You Lose Money With Fundall?

The company seems to be a reputable company offering a savings product, so there’s little chances of losing your money.

Fundall might just be good enough for people looking for a savings investment platform that offers better returns than their savings account.

Heck, a fixed deposit account in Nigeria today might not even offer you up to 5% return.

Should You Invest in Fundall?

While Fundall might be a good saving investment platform for many, the fact is that you can get a better deal elsewhere.

However, if you plan to use Fundall as your go to Fintech wallet and just want to keep some money there and receive some interest in return, then that might suffice.

But honestly, the current alternatives offer a better and more robust ROI for savers and investors, even without rigid investment tenures.

So, the choice is yours.




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