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

free welcome pack

R2000 Accidental death cover

Tell me more

  • Applying for a Club Account

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

    • The IDs of three elected group members who will act as signatories
    • Proof of residence for three members (not older than three months)
  • 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
    • R2000 Accidental death cover for up to ten nominated members*
    • NotifyMe alerts can be sent to up to three signatories
    • Balances below R50 do not earn interest

    Underwritten by Absa Life Limited Authorised Financial Services Provider FSP 36116, Terms and conditions apply.

See the interest rates

for our Club Account
Balance tiers Nominal rate
R0.01 - R499 0.90%
R500 - R999 0.90%
R1 000 - R4 999 2.25%
R5 000 - R9 999 2.25%
R10 000 - R14 999 2.50%
R15 000 - R24 999 2.50%
R25 000 - R39 999 2.55%
R40 000 - R49 999 2.55%
R50 000 - R74 999 3.30%
R75 000 - R99 999 3.30%
R100 000 + 4.30%
Last reviewed 17 January 2020  

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