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Save smart and watch your money grow

By Digital Team
07 May 2019


Here’s how to get the most out of your savings and make your dreams a reality

It’s estimated that about 9 million South Africans save and invest their money in numerous stokvels and burial society schemes across the country.

However, while these savings groups are popular in most communities, simply being a member of a stokvel or burial society scheme is not a guarantee that your money is growing as much as it could be. 

Nedbank has used its industry experience and is committed to helping South Africans make the most out of their savings – whether they invest as an individual or as a member of a stokvel or burial society scheme. 

While stokvels previously focused mainly on pooling members’ money and paying out lump sums or buying bulk groceries to try to benefit from savings, the Nedbank Stokvel Account can offer so much more.

The Nedbank Stokvel Account offers competitive interest rates so your stokvel savings can grow faster, but it also gives every member who invests in the stokvel access to R10 000 funeral cover for only R20 a month per member. 

The funeral cover can be used to cover any costs associated with a burial – and transport of the deceased can also be arranged to anywhere in South Africa. You can also enjoy up to 10% discount on groceries or school supplies when you shop at our selected partner stores.

What’s more? Stokvel members can open a Nedbank Pay-as-you-useaccount with zero monthly account fees.  They can download the Nedbank Money App  and open the account today.

So how do you get started? All you need is a minimum of R100 and a valid South African identity card/document or permanent residence permit for every signing member of your stokvel.

There is no limit to the number of members who can join the stokvel!

To open your Nedbank Stokvel Account today, visit a Nedbank branch or simply dial 120*001*7865835# from your cellphone, and let your stokvel money work harder.