Opening a Standard Bank Stokvel account can provide individuals with a range of benefits, including convenience, shared responsibility, higher interest rates, and community support. Here are some of the benefits of opening a Standard Bank Stokvel account:

• Convenience: The account offers unlimited deposits with immediate access to savings, and you can make deposits and withdrawals at any branch. You can also open an account on your phone or by visiting a Nedbank branch.

• Shared responsibility: By saving together as a stokvel, burial society, social or investment club, you can enjoy unique benefits and share the responsibility of saving with others. This can help you stay motivated and committed to your savings goals.

• Higher interest rates: Stokvel accounts often offer higher interest rates than regular savings accounts because the group is saving a larger amount together. Interest is calculated daily and paid out monthly, and capital is guaranteed.

• Community support: Being part of a stokvel, investment group, or burial society can provide you with the support of friends or family and help you achieve your financial goals. You can also enjoy discounts on groceries and pay zero monthly maintenance fees on a Pay-as-you-use Account with a Nedbank Stokvel Account.

Overall, opening a Standard Bank Stokvel account can be a great way to save money, earn higher interest rates, and enjoy the support of a community.