Society Schemes Savings Account

Society Schemes is a savings account ideal for groups that want to save together. Includes stokvels, burial societies, social clubs and investments clubs.

Opening deposit
R 100
Access your money
Anytime
Interest rate
Up to 3.50%

About Society Schemes Savings Account

How to qualify

Individuals

  • You are part of an informal savings club or group with at least 5 members
    AND
  • 3 to 4 of these members can act as signatories to the Society Schemes account
    OR
  • Signatories must be South African citizens aged 18 or older

Features and benefits

  • The interest you gain rises as your account balance increases. Interest is calculated daily and paid monthly
  • First 5 branch or ATM deposits are free
  • Option to move part or all of the balance into other investments, such as Fixed or Notice Deposits
  • Win cash prizes in the Society Schemes Savers’ Draw if your average monthly balance is R 5 000 or more
  • General terms and conditions

What it costs

How to apply

What you'll need

  • Your ID book
  • Proof of home address (no older than 3 months)
  • A clear fraud history

Let's talk

Send us your details and we'll phone you within five business hours to discuss your options.