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Financial planning

Overview

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FNB Stokvel Savings Account

Whether you're saving for a family event, a trip with friends or saving money with colleagues, we're here to help you reach your savings goals and turn your plans into reality.

What you get

The best Stokvel Savings Account that caters to all group members.

True transparency

Every member can easily view balances, inContact notifications, and more via the FNB App or cellphone banking, *321*120#.

Safeguard your savings

The Stokvel's money is protected with our robust security. All payouts require initiation and approval from 3 signatories.

Maximise your money

Our account is designed to help you grow your money effectively. Maximise your Stokvel savings with our competitive interest rate, earning you up to 6.25% interest.

Transact digitally

You can do everything via the FNB App and cellphone banking, but you're always welcome to visit your nearest branch for assistance.

Stokvel account rates

Get your account at no extra cost, and earn up to
interest on your Stokvel savings

What you can do

\

The account offers flexible contributions allowing you to save as a group, on your terms.

As a signatory

  • You can invite, edit or remove members to the Stokvel.
  • You can approve payouts and payout directly to members' chosen accounts.
  • You need to visit your nearest branch with the new signatories and Stokvel meeting minutes to change the signatories.

As a member

  • You can deposit funds via EFT or complimentary cardless cash deposits at FNB ATMs.
  • You and the signatories can get group funeral cover at discounted monthly premiums.
Get Group Funeral Cover
 

Open your Stokvel account today

Open it via the FNB App or at your nearest branch. See how below.

  1. Log in or download the FNB App
  2. Go to the Product Shop
  3. Select 'For Me'
  4. Under 'Invest', select 'Stokvel'
  5. Follow the on-screen prompts to apply for the Stokvel Savings Account

Physical address

4 Merchant Place
Corner Fredman Drive and Rivonia Road
Sandton
2196

Postal address

PO Box 650149
Benmore
2010

 

Required documents

  • Proof of residence of each signatory that is a foreign national or non-resident
  • Passports of each signatory that is a foreign national or non-resident
  • Group's constitution detailing the nature of their operation

 

Qualifying criteria

  • Foreign nationals and non-residents can only be signatories

 

Stokvel account rates

Nominal rate per annum (NACM):This is the annualised interest rate that you will earn daily and is capitalised monthly. This rate does not take into account the compounding interest effect.

Annual Effective Interest rate:Annualised interest rate that takes into account the compounding interest effect for one year assuming interest is not withdrawn.

 

Open your account today

First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).

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