Saving for groceries with a group of people is easy with a Grocery Club Account.

Find your nearest branch

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Online Banking registration.

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Minimum two signatories to open the account.

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Access your e-statement on Online Banking.

  • Applying for a Grocery Stokvel Account

    You need two or more members to open the account and the following documents:

    • The IDs of elected group members who will act as signatories 
    • Proof of residence for elected group members (not older than three months)
    • Your initial R50 investment to open your account
  • Features of the Grocery Stokvel Account

    • All you need is an initial deposit of R50 to open your account
    • You need two or more members to open the account
    • NotifyMe alerts can be sent to up to three signatories
    • You pay no monthly management fees
    • Register for internet banking to reduce fees
    • The group benefits for the Grocery Stokvel Account are not for individual use

    Manage my account online:

    • Register for Online Banking and enjoy some of these group benefits:
      • Pay out members anywhere anytime using EFT on Absa Online
      • Access an electronic statement on Online Banking
      • Track member contributions
      • Reduce some transactional fees

See the interest rates

for our Grocery Stokvel Account
Balance Tier Rate
0.01 - 9 999 999 999 999.99 4.75%

Last reviewed on 22 November 2024

All interest rates are expressed as a percentage per annum and are indicative rates subject to change. View our product term sheet.
 

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Saving for groceries with a group of people is easy with a Grocery Club Account.

Find your nearest branch

Please note: To provide our products and services, we collaborate with other companies, some of which may use our branding. Our Privacy Policy does not apply to these companies' websites. For their privacy policies, please refer to the respective service provider's site.

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