OPay Spend and Save: Earn Interest While You Spend

Updated: October 2025 · Credreviews Blog 

OPay Spend and Save is a flexible savings feature inside the OPay app that helps you earn interest on idle wallet funds while still allowing instant access for spending. Unlike fixed deposits, Spend and Save offers daily interest with no lock-in — ideal for everyday savers.

How Spend and Save Works

The feature works by automatically putting a portion of your balance into a savings pool that earns interest daily. You keep the freedom to spend or withdraw when needed.

1. Activate the feature: Open OPay → Finance or Savings → enable "Spend and Save".
2. Automatic saving: A set percentage or rules you choose moves idle funds into the savings balance.
3. Interest accrual: Interest is calculated and credited daily to your savings balance.
4. Instant access: Withdraw or use your saved funds anytime without penalties.

Key Benefits

• Earn daily interest: Your idle funds generate returns every day.
• No lock-in period: Withdraw anytime without losing interest.
• Boosts saving habits: Automatic saving while you spend builds consistent saving habits.
• Convenient access: Funds stay in your OPay wallet for transfers, bills, or withdrawals.
• Combine with other products: Move funds to OWealth or fixed plans for higher returns when desired.

Who Can Use Spend and Save?

Most active OPay users can enable Spend and Save. For higher limits and full features you may need to complete BVN verification and identity checks inside the app.

How to Activate Spend and Save (Step-by-step)

1. Update the OPay app from Google Play or App Store.
2. Open the app and sign in to your account.
3. Go to the Finance or Savings section.
4. Choose Spend and Save and follow on-screen prompts to enable it.
5. Set any preferences (automatic percentage, minimum balances) if available.

Tips to Maximize Your Returns

• Regularly top up your OPay wallet — more idle funds = more interest.
• Use OPay for everyday payments (bills, airtime, transfers) so automatic saving compounds over time.
• Pair Spend and Save with OWealth or fixed savings plans when you can lock funds for higher yields.

Security and Safety

OPay is regulated and uses standard security (PINs, biometric options, encryption). Always:

• Keep your transaction PIN secret and change it periodically.
• Only download OPay from official app stores.
• Report suspicious messages or account activity immediately via in-app support.

Common Questions (FAQ)

What interest rate does Spend and Save offer?

Rates vary over time and may depend on promotions or pooled investment returns. Check the OPay app for current rates and APY details.

Can I withdraw anytime?

Yes — Spend and Save is designed for flexible access. You should be able to withdraw or use funds without penalties, but confirm specific rules in the app.

Do I need BVN to use it?

BVN verification may be required for higher limits and full access. Basic activation might be possible without BVN but limits apply.

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OPay Spend and Save offers a low-friction way to earn interest on the money you already keep in your wallet. It's ideal for people who want to save automatically while keeping funds available for daily spending. To get started, update the OPay app, enable Spend and Save, and consider combining it with OWealth for longer-term growth.

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Disclaimer: Features, interest rates and availability are subject to OPay's terms and may change. This article is informational and not financial advice. Always check the app for the latest terms.