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Society Scheme savings account

Savings and investment Society Scheme

Enjoy unique benefits when you save together as a stokvel, burial society, social or investment club.

Society Scheme interest rates

See how much interest you can earn depending on your account balance.

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

Save and win

Stand to win cash prizes in regular draws if your average monthly balance is above R5 000

Zero fees

Keep the balance of your stokvel investment above R5 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
  • First 5 branch or ATM deposits are free
  • Transfer part or all of the balance to other investments
  • Interest is calculated daily and paid out monthly
  • Capital is guaranteed
  • Be automatically entered into our monthly Savers Draw competition where your group stands a chance to win the monthly prize of R5 000

Society Scheme terms and conditions
General terms and conditions

What it costs
  • No monthly fees for balances above R5 000
  • Cash deposit fees apply

See 2022 pricing guide
See 2021  pricing guide

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 2 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
  • First 5 branch or ATM deposits are free
  • Transfer part or all of the balance to other investments
  • Interest is calculated daily and paid out monthly
  • Capital is guaranteed
  • Be automatically entered into our monthly Savers Draw competition where your group stands a chance to win the monthly prize of R5 000

Society Scheme terms and conditions
General terms and conditions

  • No monthly fees for balances above R5 000
  • Cash deposit fees apply

See 2022 pricing guide
See 2021  pricing guide

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 2 to maximum of 4 signatories


*Signatories must be over 18

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Register now to benefit from paying with your Credit, Cheque or Debit card.

1

Using any qualifying Standard Bank personal Credit, Cheque or Debit card.

2

Rewards Points on all your qualifying purchases.

3

Rewards Points in four easy ways. Improve your Tier Level and earn even more Rewards Points.

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