Nedbank Stokvel Account – How it works, Login, Register, Review
Stokvel originated from “Stock Fair” and it is a term used by South Africans to describe what we today know as peer to peer donation platform.
Stokvel has helped the South African economy grow and many stokvel groups have acquired small companies in South Africa and they are running the companies perfectly.
It is largely used to save money by South Africans. Now Nedbank is making this way of saving towards a common goal even more beneficial by offering the Club Account – a great way for groups to save together safely and securely, and earn interest on top of it.
According to Nedbank.co.za,
Features and benefits
- Minimum opening deposit is R100.
- Interest rates are market-related and tiered, meaning that the higher your balance, the more interest you earn.
- There is no limit to how many members can save together, as long as there are a minimum of three signing members, two of whom must be present during any transaction.
- Zero account maintenance or transaction fees.
- Unlimited withdrawals, as long as there is sufficient money in the account.
- eNote notifications that keep you informed about all transactions on your account.
- Nedbank Affinity programme – support a cause through our Affinities Programme at no cost to you.
Stay tuned as we unveil more about this Nedbank Stokvel programme.
Since this stokvel is organised by a known brand in South Africa, it seems trusted by many people. This is considered the only trusted stokvel in South Africa now.