How to lock Money on Opay in 2024: Over time, OPay has emerged as one of the go-to online banking apps in Nigeria, making a significant mark in the banking industry.
Its popularity owes much to the simplicity of operations and the array of products available on its mobile application.
The OPay fixed saving plan is a noteworthy feature that allows customers to set aside money for a specified period (ranging from 7 to 1000 days) and earn high interest. Interest is paid out only on the due date along with the principal.
However, any premature withdrawal incurs penalties, along with a breaking fee, and forfeits the interest.
On the OPay app, you can earn up to 18% p.a. on your balance. Other features like Owealth, Target, and Safebox also provide avenues to save money. If you’re keen on understanding how to lock money on OPay, you’re in the right place. Let’s dive in.
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How To Lock Money On OPay
- Open Your OPay Application: Log in to your account.
- Navigate to Finance: Click on Finance, then select Fixed.
- Create Your Plan: Click on Create Plans and choose the investment duration.
- Fill in Details: Enter the investment name, saving amount, and select the payback date.
- Accept Terms and Conditions: Complete the process by accepting the Terms and Conditions to create your fixed plan.
How To Lock Money On OPay Safebox
- Access Your OPay Application: Log in to your account.
- Visit Finance Section: Click on Finance, then select Safebox.
- Proceed with Deposit: Click on Proceed, select Deposit, and enter the desired saving amount. Your next withdrawal date will be displayed if you choose to lock your money using Safebox.
- Accept Terms and Conditions: Finalize the process by accepting the Terms and Conditions.
How To Lock Money On OPay Target
- Log in to OPay: Open your OPay application and log in.
- Navigate to Finance: Click on Finance, then select Target.
- Create Your Target: Click on Create Target, choose your targeted amount, and select the reason for saving.
- Set Preferences: Choose your preferred saving frequency, start and payback date.
- Finalize the Process: Accept the Terms and Conditions to lock your money on OPay Target.
FAQs
Is it safe to save money on OPay? Yes, it is safe to save your money with OPay. The platform is licensed by the Central Bank of Nigeria.
How to hide my balance on OPay? Click on your Opay application, log in to your account, and click on the icon next to your available balance to hide or review your account balance.
Can an OPay account be blocked? Yes, OPay has the right to freeze or lock your account immediately without liability.
TechspikeNGR conclusion on How to lock Money on Opay
In conclusion, OPay provides diverse options for customers to lock their money, each with its own set of benefits and drawbacks. Remember, early withdrawals may result in penalties, so plan accordingly.
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