Now you and your friends can reap real benefits from your grocery stokvel as we partnered with Pick n Pay to help you get the best out of every rand spent.

Nearest branch

Earn discount for your group purchases

You may qualify for the delivery benefit

Applying for a Grocery Stokvel Account

Head down to your nearest branch, and take the following documents with you:

  • The IDs of 3 elected group members who will act as signatories 
  • Proof of residence for 3 members (not older than 3 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.
  • Enjoy a competitive interest rate.
  • You pay no monthly management fees.
Exclusive benefits of the Grocery Stokvel Account

We have partnered with Pick n Pay to bring you the following additional benefits:

  • 0.5 Pick n Pay Smart Shopper points for every R1 you spend. For example, if you spend R30 000 you get 15 000 Pick n Pay Smart Shopper points per purchase on groceries.
  • 3% discount on all case purchases you make.
  • A R500 Pick n Pay voucher when you spend a minimum of R30 000 per purchase on groceries.
  • Delivery within a 15 km radius from the Pick n Pay store when you spend a minimum of R30 000 per purchase.

See our interest rates

for Absa Grocery Stokvel Account
R50+ 3.75%

Last reviewed on 11 December 2017

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