Society Schemes Savings Account | Standard Bank Mobile Site
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Society Schemes

Society Schemes Savings Account

A Standard Bank Society Scheme is ideal for informal groups that want to save together. Society schemes include stokvels, burial societies, social clubs and investment clubs.

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 Scheme 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 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 Scheme Savers’ Draw if your average monthly balance is R 5 000 or more
  • Society Scheme interest rates

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

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