Group Savings Account

Achieve your goals with a simple and secure group savings account for your club or stokvel. For only R25 a member, you can also add R10,000 funeral cover.

Zero

3.75– 5.50

%

R100

Immediate

What you get

Unlimited withdrawals and deposits

The higher your savings, the more interest you’ll earn

Funeral cover option for members between the ages of 18 and 65

Growth

Your savings are secure and earnings are guaranteed.

You'll earn more interest as your money grows.

You may earn interest between 3.75 - 5.50% monthly.

Rates and fees

Zero account maintenance fees.

Free stop orders from your Nedbank account. 

Free deposits at Nedbank ATMs

Teller cash deposit fees will apply.

Access

You’ll have instant access to your money when you need it.

The minimum amount you can withdraw is R100.

Flexibility

You can make additional deposits directly from your Nedbank or other bank account.

You can choose to have your interest paid out monthly or add it to your investment for even better earnings.

Convenience and Control

Access your account easily on the Money app and Online Banking. 

View and retrieve statements from your account directly on the Money app.

 

Security

You’ll need a minimum of three signatories to open the account.

At least two of your signatories must be present when making certain transactions.

Rewards and affinities

Clients who have taken up funeral cover will qualify for the year-end rewards. 

 

 

 

 

 

 

 

 

 

 

 

Nedbank + Group Savings Account: A winning combo

Members who have a Nedbank MiGoals account can enjoy the following everyday-banking benefits: 

  • Maintenance fees at R7 p/m
  • Unlimited free card swipes 
  • Value-added data, airtime and other prepaid purchases (charged per transaction).
  • Access to the Money app, Online or Cellphone Banking at any time of day. 
  • Free 3-month bank statements
  • Greenbacks Rewards membership at R32 p/m

Open a Group Savings Account

Get started

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