With the Club Account, all members of your savings club or stokvel can contribute from any branch across the country.

An affordable savings option

Contribute from only R50 per month, with no management fees.

free welcome pack

You get tips, investment options, and other helpful group saving information.

Bonus interest

If you keep at least R1 000 in your account for a full year, We reward you with 1% bonus interest.

Applying for a Club Account
Applying for a Club Account

To apply, go to your nearest branch, and take the following with:

  • The IDs of 3 elected group members who will act as signatories
  • Proof of residence for 3 members (not older than 3 months)
Features of the Club Account
What you need to know
  • All you need is an initial deposit of R50 to open your account.
  • The account requires 3 or more members to save as a group.
  • Your savings are available on 32 days’ notice.
  • Free accidental death cover applies for up to ten nominated members of the account.
  • Free NotifyMe alerts can be sent to up to 3 signatories.
  • Balances below R50 do not earn interest.

See our interest rates

for Absa Club Account
  Nominal rate
Balance tiers  
R0.01 - R499 1.40%
R500 - R999 1.40%
R1 000 - R4 999 2.75%
R5 000 - R9 999 2.75%
R10 000 - R14 999 3.00%
R15 000 - R24 999 3.00%
R25 000 - R39 999 3.05%
R40 000 - R49 999 3.05%
R50 000 - R74 999 3.80%
R75 000 - R99 999 3.80%
R100 000 + 4.80%
Last reviewed 21 July 2017  

All interest rates are expressed as a percentage per annum and are indicative rates subject to change.

contact us

Need more help?

Let one of our consultants help you get the best account for your needs.

Call us on:

0860 111 515

Email us at:

saving@absa.co.za

Visit your nearest branch