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Read about the Stokvel account

In an era of high-tech banking and digital wallets, the power of the stokvel remains.
Stokvels are more than savings clubs – they are community-based financial ecosystems built on trust.

Read More

Stokvel

Last updated: May 28, 2025
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Interest Rate

Interest rates from 4.25% to 6.00% based on balance tiers.

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Access to funds

Instant access to funds.

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Opening Deposit

Minimum deposit of R100 to open.

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Monthly Fees

Zero monthly fees.

Tax Implications

During tax season, Nedbank will provide a tax certificate IT3(b) and/or IT3(s) for your savings account.
These certificates report interest and dividend earnings to help complete your SARS ITR12 tax return.

Read More

Read about the Stokvel account

In an era of high-tech banking and digital wallets, the power of the stokvel remains.
Stokvels are more than savings clubs – they are community-based financial ecosystems built on trust.

Read More

What you need to apply

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South African Citizens

  1. Opening deposit of R30
  2. Your South African ID
  3. Proof of residence
    (not older than three months)
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Non-South African Citizens

  1. Opening deposit of R30
  2. Valid Passport
  3. Proof of residence
    (not older than three months)
  4. Work/Resident permit
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Ways to apply

You can apply now on Buti.co.za, or alternatively, visit the bank’s website to apply through their platforms.

Savings Calculator



Interest Earned: R0.00

Total Savings: R0.00

What you need to apply

badge

South African Citizens

  1. Opening deposit of R30
  2. Your South African ID
  3. Proof of residence
    (not older than three months)
public

Non-South African Citizens

  1. Opening deposit of R30
  2. Valid Passport
  3. Proof of residence
    (not older than three months)
  4. Work/Resident permit
how_to_reg

Ways to apply

You can apply now on Buti.co.za, or alternatively, visit the bank’s website to apply through their platforms.