South Africa is one of the best countries and has survived through the years especially when communities come together to save funds together towards a common goal. Societies in South Africa are the biggest part of our lives, it’s been years and years where you see a number of people come together to save money at competitive prices for groceries during the holiday season in December.
You can do as such with Nedbank (See also Stokvel Account), a bank that took initiative in helping South Africans continue with savings that include a number of members. Be financially savvy with the Nedbank Club Account – This is suitable for groups, societies, and groups to earn competitive rates while the funds are securely saved.
Safe your money with the bank that you trust, don’t take risks by saving money at your own homes, it is best and safe to have your money in a bank, while you earn interest.
Nedbank Club Account features
- Choose an account that best works for you as a group, as with the Nedbank Club, the minimum opening deposit for the account is R100
- The account doesn’t have any maintenance fee, which allows you to save even more without the worry of maintenance fees. (No Maintenance Fees)
- You will be able to withdraw as many times as you feel like provided there’s enough money in the Nedbank Club Account. (Unlimited Withdrawals)
- You can decide on how many people can be part of the account. You can choose as many members as you wish, there is a limit, however, there should be a minimum of three members who will be doing most of the signing when there are any transaction – two members have to be present for any transactions performed. (Minimum of 3 members)
- The interest rates earned are market-related, and the higher the amount of your savings, the more interest you earn as a group. (Competitive rates)
- Members will be able to see transactions of the account through eNote Notifications.
- If need be, you can support the Nedbank Affinity Programme – through this Programme you can choose a cause that you want to support at no cost to you, please do take part.
You can contact Nedbank on 0860 555 111, or visit the Nedbank Club Account Page for more information, alternatively, you can visit the nearest Nedbank Branch around South Africa. Nedbank is Authorized financial services and registered credit provider (NCRCP16)
South African COVID-19 Information Portal
iBusiness on COVID-19