Reap Goal; An innovative digital approach to group savings

April 27, 2021
4 min read
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In different parts of the world and especially Africa, people come together to form a saving community. This practice has been in existence for decade and in some case regarded as a form of banking for the unbanked. Reaprite has digitalized this process by building on the existing structure of group saving and making it possible for the digital aged population to participate in group saving.

Reaprite, a digital savings and investment platform in the Fintech space has introduced a unique saving option, Reapgoal to further encourage Nigerians to save. This is in alignment with her vision of bringing Africans closer to financial freedom. 

The new saving option; Reapgoal will encourage individuals and groups of persons to set saving goals and smash them with ease. The option include Target; a personal saving plan and Reap Village; a group saving plan that offers 10% interest per annum respectively. Reap Village is an innovative digital collective saving option that allows individuals, friends and even strangers to come together and save to achieve a common goal. Users can access this feature on Reaprite via Web, iOS or Android platforms. 

People want help and accountability saving for themselves which is the reason behind Reap Village. We also hear stories like “I can’t save alone”, “I’m not consistent with my savings”, “I need help to stay on track”. Reap Village is developed with all these concerns in mind and to help you keep your eye on the goal. The saving duration is from Short to long term and flexible, giving room for customizing, and accrued a 10% interest per annum. 

Many a times we travel, spend time and lots of money with friends. Why not save collectively? as this can be a powerful way of meeting financial goals. Whether it’s saving for a birthday party, destination wedding, house project or Education, group saving is an effective way to reach your goal.

Speaking on the launch, Reaprite said;

“We are ecstatic to have successfully launched Reapgoal. True to our unwavering commitment to continue to provide better financial services to our customers, this new product is designed to enable users save for specific goals while their money earns high interest.”

Here is how Reap Village works

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Since it’s literally a village, a village must have a King, Chief and Kinsmen. The King creates the Village, customized the village based on short to long term financial goal he hopes the Village will achieve within a specified time and invites group members ( Kinsmen) to join. Together they begin a saving journey.

Reap Village makes a few tweak to the usual group saving. In the case of Reap Village, members are saving collectively but as individual, no member takes home the total contribution by the end of the month but members only go home with what they have saved at the end of the Village duration.

Secondly, members are free to opt out of the village at will and go home with what they have saved but staying on course is important as 10% interest is guaranteed on the capital saved. 

Thirdly, the King who is the curator and leader of the village is awarded at the end of the saving circle an additional 5% interest of the overall interest accrued by the group. Mind you anyone can create a village for free, and through the member’s profile, Kinsmen can track saving activities and the progress of the village.

To get started;

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Download the Reaprite app from the different stores,  create account for free and invite your friends, loved ones, acquaintance to save along with you and together you are on your way to financial stability and freedom.

REAPGOAL will offer users the following benefits on their savings.

 ∙ Competitive interest rate of 10% p.a

∙ Dedicated and exceptional customer support

  • No transaction fees.
  • Bonuses on savings.
  • Users ranking to encourage better performance.
  • Personalized savings duration and purpose.

Should you need more information, we will be happy to create time to discuss more. Our Customer support team are ever available to put you through. Visit our website at , send us an email at [email protected]   or call +234 809 410 7777.

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email [email protected]

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email [email protected].

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