About Society Schemes Savings Account

How to qualify

  • You are part of an informal savings club or group with at least 5 members
  • 3 to 4 of these members can act as signatories to the Society Schemes account
  • 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 32-Day 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
  • Visit your nearest branch
  • The signatories for the Society Scheme account all need to be present to apply for the account
What you'll need
  • Your ID book
  • Proof of home address (no older than 3 months)
  • A clear fraud history