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Society Scheme savings account
Enjoy unique benefits when you save together as a stokvel, burial society, social or investment club.
R
100
Opening deposit
Anytime
Access to Funds
5.08%
Earn interest up to
Society Scheme interest rates
See how much interest you can earn depending on your account balance.
Society Scheme savings account
Interest rates are effective from 31 January 2025.
Nominal interest rate over 12 months.
Please select the category you would like to view the interest rates for:
Balances between R 0 - R 999
| Nominal interest rates |
|---|
| 3.23 % |
Balances between R 1 000 - R 9 999
| Nominal interest rates |
|---|
| 3.58 % |
Balances between R 10 000 - R 49 999
| Nominal interest rates |
|---|
| 3.83 % |
Balances between R 50 000 - R 99 999
| Nominal interest rates |
|---|
| 4.33 % |
Balances R 100 000 and above
| Nominal interest rates |
|---|
| 5.08 % |
INTEREST RATES ARE QUOTED AS PER ANNUM RATES AND INTEREST IS PAID OUT MONTHLY.
Some of the benefits
Save together
Pool money from your club or saving society to earn higher interest rates.
No wait, no fuss
Make unlimited deposits and get immediate access to all or part of your savings
Free Deposits
Your first 5 ATM deposits and first 2 Branch deposits are free
Zero fees
Keep the balance of your stokvel investment above R10 000 and pay no monthly fees
What you get
- Unlimited deposits with immediate access to savings.
- Ability to make deposits and withdrawals at any branch
- 5 free deposits at ATM’s and 2 free deposits at branch
- Transfer part or all of the balance to other investments
- Interest is calculated daily and paid out monthly
- Capital is guaranteed
Society Scheme terms and conditions
General terms and conditions
What it costs
- No monthly fees for balances above R10 000
- Cash deposit fees apply
How to get it
Society Scheme accounts must be opened in-branch.
Bring the following documents with you:
- ID copy (or passport if not a SA citizen)*
- Proof residence not older than 3 months
What you’ll need:
- At least 5 members from your stokvel, savings club or burial society
- A minimum of 3 to maximum of 4 signatories
*Signatories must be over 18
-
What you get
-
What it costs
-
How to get it
- Unlimited deposits with immediate access to savings.
- Ability to make deposits and withdrawals at any branch
- 5 free deposits at ATM’s and 2 free deposits at branch
- Transfer part or all of the balance to other investments
- Interest is calculated daily and paid out monthly
- Capital is guaranteed
Society Scheme terms and conditions
General terms and conditions
- No monthly fees for balances above R10 000
- Cash deposit fees apply
Society Scheme accounts must be opened in-branch.
Bring the following documents with you:
- ID copy (or passport if not a SA citizen)*
- Proof residence not older than 3 months
What you’ll need:
- At least 5 members from your stokvel, savings club or burial society
- A minimum of 3 to maximum of 4 signatories
*Signatories must be over 18
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