Pricing

See if your current banking package matches your stokvel club growth needs then explore our affordable pricing options below.

NALA CLUB
ACCOUNT SAVINGS

Annual interest of 1.25%
No monthly fees
No minimum opening balance required

Background

Nala is a seSotho word for harvest, prosperity and abundance. The Nala Club Savings account was made for stokvel clubs who requires access to their harvest instantly and on a short-term basis.

What Are The Requirements?

  • A minimum of 3 members to open account;
  • Certified copy of ID (stokvel executive members only);
  • Proof of residential address.

Account Benefits

  • No long bank queues;
  • Pay online or at any of the participating retail stores;
  • Free 30, 60, 90-day online statements;
  • Free sms and email notifications to all your club members;
  • One-Time Pin (OTP) security.

Transaction Activity

Fees

Electronic Funds Transfer (EFT)R1.10 per R100
*Cash PaymentR2.49 per R100
Card PaymentR5.99 per R100
*WithdrawalR1.10 per R100
Statements over 90-days (online)R49 per request
SMS Notifications50c per SMS

  • Please note that electronic funds transfers (EFT), may take 2-3 working days to reflect on all Nala Club Accounts;
  • *If you make a Cash Payment of R400 or less, you will be charged our standard retail fee of R9.99. If you make a Withdrawal of R1,500 or less, you will be charged our standard withdrawal fee of R14.99;
  • Cash payments may be done at selected ATMs and tills at any Pick n Pay or Boxer retail stores across South Africa;
  • Consultant Assisted Calls (e.g. claims, payment errors, member details, balance) R10 per call attended to, per stokvel club member.
  • All fees includes VAT.
NALA CLUB
ACCOUNT 32 DAYS

Annual interest of 2.25%
No monthly fees
Full interest earnings

Background

In seSotho the saying goes “Pula... Nala” meaning with rain, our crops and wealth will prosper. The Nala Club 32 Days account was made for stokvel clubs who will be patient with their money and would require their harvest over time, on a longer-term basis, and at a much greater interest.

What Are The Requirements?

  • A minimum of 3 members to open account;
  • Certified copy of ID (stokvel executive members only);
  • Proof of residential address.

Account Benefits

  • No long bank queues;
  • Pay online or at any of the participating retail stores;
  • Free 30, 60, 90-day online statements;
  • Free sms and email notifications to all your club members;
  • One-Time Pin (OTP) security.

Transaction Activity

Fees

Electronic Funds Transfer (EFT)R1.10 per R100
*Cash PaymentR2.49 per R100
Card PaymentR5.99 per R100
*WithdrawalR1.10 per R100
Statements over 90-days (online)R49 per request
SMS Notifications50c per SMS

  • Please note that electronic funds transfers (EFT), may take 2-3 working days to reflect on all Nala Club Accounts;
  • *If you make a Cash Payment of R400 or less, you will be charged our standard retail fee of R9.99. If you make a Withdrawal of R1,500 or less, you will be charged our standard withdrawal fee of R14.99;
  • Cash payments may be done at selected ATMs and tills at any Pick n Pay or Boxer retail stores across South Africa;
  • Cash payments may be done at selected ATMs and tills at any Pick n Pay or Boxer retail stores across South Africa;
  • Consultant Assisted Calls (e.g. claims, payment errors, member details, balance) R10 per call attended to, per stokvel club member.
  • All fees includes VAT.
NALA CLUB
ACCOUNT LOANS

No paperwork
No application fees
Quick loan approval

Background

The Club Loans account is made for stokvel clubs who require quick access to loans of up to R20,000. Your stokvel club members may use part of the loan to pay school fees, put down a deposit, kickstart a business or avoid bo mashonisa. As stokvel tradition for helping each other; the loan repayments is a collaborative effort where your stokvel club stands as surety.

What Are The Requirements?

  • Your stokvel club must be active on our platform to qualify;
  • Minimum current balance of R2,000 on your account.

Loan Benefits

  • Make income for your stokvel club with every loan approved;
  • Credit checks only done on stokvel clubs and not its members;
  • No payslips required;
  • No constraints, use loan as you wish;
  • Pay anytime you wish within the agreed period;
  • Free loan management tool.

LOAN COSTS

FEES

Monthly Service FeeR69
*Once-off Transaction FeeR1.10 per R100
**Effective Interest Rate (max)6.17%

  • *Minimum transaction fee charged to the stokvel is R45.99 per credit approved;
  • **Effective Interest Rate only charged per annum and not on a monthly basis.
  • All fees includes VAT.