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 5.25%

Last reviewed on 26 May 2023

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

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