What is a Stokvel account?
Stokvel is a savings account that facilitates the coming together of a group of people that can save together to achieve their goals and dreams.
NO MONTHLY FEES
EARN INTEREST
TRANSACT DIGITALLY
NO MINIMUM DEPOSIT
QUICK AND EASY APPLICATION PROCESS
ADD UP TO 100 MEMBERS
All Rates
| Balance | R 1 - R 24 999 | R 25 000 - R 49 999 | R 50 000 - R 99 999 | R 100 000 - R 999 999 | R 1 000 000+ |
|---|---|---|---|---|---|
| Interest Rate | 3.50% | 4.50% | 5.50% | 6.50% | 7.50% |
- Interest rates are quoted on a per annum basis and are valid for today only as they may change over time.
- Terms and conditions apply. We cannot advise you on the tax implications of investing. It is recommended that you contact your financial advisor or tax consultant.
How To Apply
Visit nearest African Bank branch
Documents Required
- SA Citizen: Valid ID Document
- Non SA Citizen: Valid Passport and work permit
- 3 Executives must be present at branch
- Copy Stokvel Constitution (If you do not have a constitution no worries African Bank wil assist to create a constitution)
More to read
-
Stokvel terms and conditions
1 Number to call
086111 1011
*Banking fees are based on Solidarity's methodology of comparing defined baskets of transactions (12,17,25 and 30 transactions) across 6 biggest entry level bank accounts. In this way, an average industry price was obtained.