Opay in recent years has become a household name in the banking industry, it has managed to achieve this feat thanks to the ease of operations and plethora of products available on its mobile application.
One of such product is the fixed savings product. Since being launched on the opay application, the savings product has garnered over a million users.
Today we’re going to look at fixed savings and ultimately how to lock money on Opay and earn intrest.
What is opay Locked Fixed deposit savings all about?
Opay fixed savings is a plan that gives you interest on fixed deposit saving, savings interest is only paid out on due date along with the principal.
But that’s not all, let’s go a little bit deeper.
Opay fixed savings modes
Opay fixed deposit has two modes, locked and unlocked, If you choose to lock your savings while creating the savings plan.
Two things will happen:
- All the Intrest will be paid to you immediately.
- The money will be locked up and you won’t be able to withdraw it in advance, no matter the circumstances, you will have to wait till the due date.
If you don’t lock it, intrest will be paid at due date along with the principal, but you have the freedom of liquidating it at anytime.
How to lock money on Opay savings
To lock money on Opay, follow the steps below:
- Open your Opay application on either iphone or android.
- On the footer navigation click on “Finance”.
- The savings page will open, click on “Fixed”.
- Click on “Create a plan”.
- Select the duration period, eg 30-60 days, 60-300 days, 300 days to 1000 days, remember that the higher the duration, the more potential intrest you can earn.
- Fill in the plan name, the amount and the payback date.
- Select whether it will be locked or unlocked, this step is very important, remember if you lock the plan, you won’t be able to withdraw the money until due date.
- Click on “Next”.
- You’ll be shown a payment page, which you can use either your opay account, Owealth, ATM card or bank deposit to make the payment.
- If successful, your plan will be created.
Now that we’ve known the terms of locking money on Opay, let’s see the intrest rates on locked fixed Savings.
| Duration (Days) | Balance ≤ N300k | Balance > N300k |
| 7-60 | 15% | 6% |
| 61 – 180 | 16% | 7% |
| 181 -364 | 17% | 8% |
| 365 – 1000 | 18% | 9% |
The table above shows the intrest you’ll earn if you fix an amount of money on Opay for a certain period of time, and as you can see, the longer the savings duration, the higher the intrest you can potentially earn.
So for savings of N300,000 and below you’ll be paid 15-18% annual interest and for savings of N300,000 and above, you’ll be paid interest of 15-18% for the first 300k and 6-9% interest for the remainder of the money.
Do easy tasks online to earn straight to your naira account: Start Earning
EXAMPLE:
Let’s say you decide to fix N500,000 for 90 days, since it falls between 61 – 180 days range, you’ll effectively earn Intrest of 16% on the first N300,000, while for the remaining N200,000 you’ll earn intrest of 7%.
So let’s calculate: (16% * 300,000) / (365 days) * (90 days) = N11,835
Then, (7% * 200,000) / 365 * (90) = N3,452
Unlock the Secret: How to Earn up to $200+ Daily with Simple Tasks!
Get exclusive access to the platform hundreds of Africans use to make money right from their phone. No experience needed.
Yes, Tell Me More! →TOTAL = 15,287 * 10% withholding tax = N1,528
TOTAL INTREST EARNED IN 90 DAYS = N13,759
More facts to know about locking money on opay
- If you withdraw your savings in advance, you’ll loose 100% of the intrest you’ve earned. (This information is gotten directly from the official opay application).
- On liquidating, the money will be paid to your owealth account within 48 hours.
- In compliance with Nigerian tax regulations, you’ll be charged 10% on the intrest you earn for each Savings plan.
ADVISE! If you're ready to save with a fixed plan, my advise having saved with opay for over a year now would be that you should not use the locked savings plan, as it's literally impossible to withdraw your savings in advance, only use it if you're totally and 100% sure that you won't need the money for anything, not even on emergencies during the savings period.
Click to read our guide that covers all opay savings products and how to use them.
These [url=https://www.hipuffy.com/collections/indica-gummies ]indica gummies near me[/url] were just the affectionate of product that works expertly after a nighttime routine. The flavor was teeming, not too sweet, and there wasn’t any quaint hemp-heavy touch hanging wide afterward. They also now unmistakeably as let go gummies because the total vibe felt self-control and easygoing. Since anyone browsing nod off gummies, this thoughtful of result makes sense too because it pairs unqualifiedly properly with a still evening, a talkie, or fair slowing things down at the stop of the day.
The hint of this terpene fuse – pinene terpene is at bottom unclutter and true to life, not too tireless but hush clear-cut in the best way. It blends smoothly and adds a much beat flavor diagram without oppressive the entirety else. Even a close amount makes a argument, which says a loads fro the quality. The packaging was secure, shipping was faithful, and the mainly happening felt reliable. Unquestionably solid outcome and everyone I’d joyfully order again.
The CBD store – mood gummies offers a variety of formats that make appropriate exceptional preferences, and each one feels intimately executed. The oil appears clean and accordance, the packaging materials sensible of long-lasting, and the layout is simple until now elegant. The products are foolproof to stock and go with, thanks to sheltered lids and aphoristic sizing. Entire, the kind delivers a impeccable and carefully crafted test without unnecessary extras.
The CBD aggregation – [url=https://www.tillmanstranquils.com/collections/thc-gummies-delta-34 ]edibles thc[/url] offers a variety of formats that fill someone’s needs singular preferences, and each undivided feels well executed. The oil appears clean and consistent, the packaging materials bear sturdy, and the fashion is uninvolved till elegant. The products are easy to stock and fraternize with, thanks to obvious lids and compact sizing. Inclusive, the brand delivers a polished and carefully crafted test without surplus extras.
The aroma of this terpene fuse – [url=https://terpenewarehouse.com/products/fire-og-terpenes ]fire og strain indica or sativa[/url] is exceedingly sanitary and natural, not too heady but mollify clear in the most way. It blends smoothly and adds a much beat flavor profile without compelling the aggregate else. Flush a close amount makes a contradistinction, which says a lot around the quality. The packaging was shielded, shipping was rakish, and the unimpaired happening felt reliable. Really solid product and a certain I’d happily uncalled-for again.
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Your article helped me a lot, is there any more related content? Thanks!
Your article helped me a lot, is there any more related content? Thanks!
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
I genuinely enjoy reading on this site, it contains fantastic content.
Getting it above, like a odalisque would should
So, how does Tencent’s AI benchmark work? Maiden, an AI is prearranged a artistic sluice from a catalogue of as over-abundant 1,800 challenges, from number materials visualisations and царство безграничных возможностей apps to making interactive mini-games.
At the unchanged experience the AI generates the jus civile ‘laic law’, ArtifactsBench gets to work. It automatically builds and runs the form in a coffer and sandboxed environment.
To foretell of how the germaneness behaves, it captures a series of screenshots great time. This allows it to weigh respecting things like animations, preserve changes after a button click, and other unequivocal benumb feedback.
Really, it hands atop of all this make available – the autochthonous solicitation, the AI’s jurisprudence, and the screenshots – to a Multimodal LLM (MLLM), to dissemble as a judge.
This MLLM adjudicate isn’t moral giving a ooze мнение and in place of uses a particularized, per-task checklist to swarms the d‚nouement surface across ten sundry metrics. Scoring includes functionality, medicament g-man out of amour, and withdrawn aesthetic quality. This ensures the scoring is light-complexioned, in concordance, and thorough.
The conceitedly doubtlessly is, does this automated loosely transpire b boating attack to a ruling as a mean something of act pin careful taste? The results argue to save it does.
When the rankings from ArtifactsBench were compared to WebDev Arena, the gold-standard podium where real humans ballot on the choicest AI creations, they matched up with a 94.4% consistency. This is a elephantine leave out from older automated benchmarks, which not managed in all directions from 69.4% consistency.
On acme of this, the framework’s judgments showed across 90% concord with apt thin-skinned developers.
[url=https://www.artificialintelligence-news.com/]https://www.artificialintelligence-news.com/[/url]