Frequently Asked Questions

Save & Buy is an online savings platform that helps you meet your personal goals and desires.

General

Why should I use Save and Buy?
Our goal is to take the stress out of saving and make it a more simple, secure and social process. Save and Buy is the ideal solution for those planners, savers and aspirers with limited access to credit that need that added touch of personal discipline to maximize their financial potential.
What is the difference between a physical and nonphysical plan?
  1. A physical plan is one where you are saving towards a physical, non-virtual product. Such products are tangible and are provided by our partner merchants. For more information on physical products click here.
  2. A non-physical product is a virtual product that a user is saving towards. For example, plans targeted at rent, a birthday celebration or an anniversary fall into this category.The user will save and withdraw their money when their savings plan is complete to use as they desire. For more information on non-physical products click here.
What happens if I change my mind and decide I no longer want to continue a plan?
That wouldn’t be a problem. Save and Buy provides users with the option to cancel existing plans with no penalty attached. Funds from the plan can then be transferred to another existing plan or to the user’s bank account.
Do I need to have a Stanbic Bank account to use Save and Buy?
No. Save and Buy is available for everyone to use regardless of whatever Bank account you own. As our partner Bank Stanbic IBTC Nigeria acts as custodian of the funds - that way you know no matter what your money is in safe hands.
Are there any fees associated with using Save and Buy?
Absolutely not. The Save and Buy platform and all associated services are free for you to use. No penalty, withdrawal or hidden fees.
How do I complete my plan?
Plans are completed by making installment payments. This can currently be made via your debit card or your mobile money wallet.
What is Save and Buy’s partnership with Stanbic?
Stanbic IBTC bank is our primary banking partner and the custodian of all funds coming in through the Save and Buy platform.
Is my money safe? Where is my money held?
Your money is held within a trust account in Stanbic IBTC Bank. All money is held within Stanbic IBTC Bank until it is withdrawn by you via Save and Buy, or used to purchase a product that you are saving towards.
Do I get interest on my savings?
Unfortunately we do not offer interest on any savings plans held with Save and Buy.
Do you offer credit or loans?
We do not offer credit or loans at the moment. Savings plans must be complete before they are delivered to you.
Can I make automatic deductions from my bank account to Save and Buy Platform?
Yes, you can make automatic deductions from your personal bank account to your Save & Buy account. Log in to your personal dashboard on www.saveandbuy.com.ng and go to your Profile. Follow the instructions to enter your bank account information and set automatic payments.
I have more questions how do I reach you?
You can reach out to us via our contact us page, send an email to customerservices@saveandbuy.com.ng or place a call to 0700-2000-2000. Either way, we’ll be glad to hear from you.

Non-Physical Products

What is a non-physical product?
A non-physical product is a virtual product that a user is saving towards. For example, plans targeted at rent, a birthday celebration or an anniversary fall into this category.The user will save and withdraw their money when their savings plan is complete to use as they desire.
How do I make contributions to my plan?
Once you have selected your savings goal on www.saveandbuy.com.ng you can make start making payments. You may use multiple payment methods over the course of your savings plan.
Accepted payment options include:

  1. Master Card (Naira and FX)
  2. Visa Card (Naira and FX)
  3. E-tranzact
  4. Stanbic Mobile Money Wallet
How do I transfer my money from one savings plan to another?
You can move your money from one savings plan to another by cancelling the first plan and moving your money to an existing plan. There is no fee for doing this. Access your dashboard at www.saveandbuy.com.ng and select the cancel option to move your funds to another existing savings plan.
What happens when I complete my savings plan?
When your plan is complete you can withdraw your money and use it to fund the item or activity you were saving towards.

Physical Products

What is a physical plan?
A physical plan is one where you are saving towards a physical, non-virtual product. Such products are tangible and are provided by our partner merchants. For more information on physical products.
Are your products new and authentic?
Yes, all products on this site are authentic, brand new and have not been used.
What if I cannot find the product I want?
No worries! Contact us at 0700 2000 2000 or customerservice@saveandbuy.com.ng and let us know the products that you would like to see on our shop. Products must be a minimum of N10,000 and fall within one of our existing product categories.
How do I view my savings plan?
Login in to www.saveandbuy.com.ng, click on the 'Details' button, this will show you progress on the payments and contributions that have been made towards completing your savings plan.
How do I save towards or pay for products?
Once you have selected a product and registered on www.saveandbuy.com.ng you can make payments towards purchasing your products.
Accepted payment options include:

  1. Master Card (Naira and FX)
  2. Visa Card (Naira and FX)
  3. E-tranzact
  4. Stanbic Mobile Money Wallet
How do you protect my credit card details?
We use ‘Secure Socket Layer’ (SSL) technology to encrypt your payment card to ensure your details are safe. For added security we do not save your card information when you make a payment so you have to enter it each time.
How do I invite someone to contribute to my product?
Once you have selected a product you want to save towards and made an initial down payment a button will appear on your dashboard that will enable you to Invite Friends. Click on this button and follow the simple instructions to invite friends or family to contribute to your savings.
Will the price of the product increase during my savings period?
No the price of the product will remain the same during your savings period.
What if a product is sold out by the time I finish my savings plan?
If a product is sold out or discontinued we will notify you before your plan is complete and give you options of alternative products that we can provide. You also have the option of withdrawing your money to use as you desire with no additional charge.
Can you deliver to me outside of Lagos?
Yes, delivery is available outside of Lagos.
How do I track my purchase?
Once you have complete your savings plan and paid for your product, you will receive an email containing an order number, which you can use to track the status of your product.
My item hasn't arrived yet. What can I do?
Please contact us at customerservice@saveandbuy.com.ng or 0700 2000 2000 and we will assist you in tracking your item.
What is your returns policy?
Returns are only allowed within 5 business days of delivery if there is a product defect. If you want to return an item, please contact 0700 2000 2000 or customerservice@saveandbuy.com.ng
How do I cancel (cash out) my savings plan or move my money to another product?
  1. You may cancel your savings plan or move your money to another product at any time.To cancel your savings plan, log-in to your dashboard at www.saveandbuy.com.ng and click on the “Cancel Plan” button associated with the product that you want to cancel. You will then be given the option to move your money to a bank account by entering your bank details.
  2. To move your money to a new product, log-in to your dashboard at www.saveandbuy.com.ng and click on the “Cancel Plan” button associated with the product that you want to transfer funds from. You will then be given the option to move your money to any other product that you are currently saving towards. There are no limits to the amount of time your money can be moved to another product.
Are there penalty fees for missing payments, withdrawing my money or cancelling my plan?
No! Customers do not incur penalties for missing payments or cancelling their savings plans.