“It’s not savings if you can’t access it when it counts.”

Everyone loves to earn on their money. But let’s be honest—sometimes, life throws you a curveball. And when it does, you want to know that the money you’ve saved is still working for you, and available when needed.

That’s why we’ve made it simple to save with Nearpays. And even simpler to understand how you can access your funds, what to expect with interest, and what happens if you decide to break a savings plan early.

This guide answers it all.

FAQs About Withdrawing

1. What Are the New Nearpays Savings Plans?

We’ve introduced four flexible options to help you save at your own pace—with clear, competitive interest rates and structured commitment periods.

Nearpays Savings Plan

Your money works harder the longer you save. Simple.

2. What Happens If I Withdraw Early? (Breakage Policy)

We understand emergencies happen. If you need to break your plan early, here’s what applies:

1. 30-Day Plan

• Withdrawing early = no interest earned
• A 2% fee is deducted from your principal

2. 90-Day Plan

• Withdraw before 60 days:
  • No interest earned
  • 2% fee on your principal
• Withdraw after 60 days:
  • 2% fee on your principal + interest earned

3. 180-Day Plan

• Withdraw before 120 days (4 months):
  • No interest earned
  • 2% fee on your principal
• Withdraw after 120 days:
  • 2% fee on your principal + interest earned

4. 365-Day Plan

• Withdraw before 210 days (7 months):
  • No interest earned
  • 2% fee on your principal
• Withdraw after 210 days:
  • 2% fee on your principal + interest earned

Note: If you break a plan before maturity, the credit takes 24 hours to reflect in your wallet.

3. How Do I Withdraw Funds?

• For flexible savings, it’s instant.
• For locked savings, funds are automatically moved to your wallet after your plan matures.
• Broken plans (withdrawn early) take 24 hours to process.

Once in your Nearpays wallet, you can:

• Send to your bank
• Use your Nearpays virtual card
• Make transfers or payments

4. Can I Choose Naira or Dollar Savings?

Yes. You can save in either currency. Withdrawals also follow the same rules as above, based on your plan and currency.

5. Is There a Withdrawal Fee?

No extra fees. No hidden charges. Just the 2% breakage policy (if applicable) as clearly stated above.

Final Thoughts

You deserve tools that help you save smart and spend wisely. Nearpays is here to make savings easy, structured, and flexible—on your terms. Whether you're saving N5,000 a month or locking in N500,000 for a year, you’re in full control.

Try it today!

Download the Nearpays app to get started with your savings plan.