Can I withdraw my savings early?
You can break your savings before maturity, but a small early withdrawal fee applies and you'll lose the accrued interest for that period....
Last updated August 5, 2026
Yes, you can withdraw your savings before the maturity date, but there are consequences.
Early withdrawal penalty
- You will lose all accrued interest for the current savings period.
- A 1% administrative fee is deducted from your principal.
- The remaining amount is returned to your wallet.
Example
If you saved ₦100,000 for 90 days at 12% p.a. and withdrew after 30 days:
- Accrued interest: Forfeited
- Early withdrawal fee: ₦1,000 (1% of ₦100,000)
- Amount returned: ₦99,000
How to withdraw early
- Open the app and go to Savings.
- Select the goal you want to withdraw from.
- Tap Withdraw Early.
- Review the penalty details.
- Confirm with your PIN.
Alternatives to early withdrawal
- Partial withdrawal: Some goals allow partial withdrawals without breaking the entire goal. Check if this option is available for your goal.
- Emergency fund: Keep a separate emergency savings goal with a shorter duration (30 days) for unexpected expenses.
Tip: To avoid early withdrawal penalties, set realistic savings goals and keep an emergency fund separate from your savings goals.
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