Does Your Neighbourhood / Street WhatsApp Group Solicit Funds?

If your group has 40 or less contributing members then this may be the solution that you seek.

A Capitec Stokvel account

Launched on 10 September 2026, the Capitec Stokvel Account is a digital group savings product designed to capture a share of South Africa’s multi-billion rand community savings market. The account eliminates the traditional reliance on cash and spreadsheets by transitioning the entire stokvel into a secure, transparent digital space managed straight from the mobile app.

What is a Stokvel?

A stokvel is a traditional, community-based savings club or investment society unique to South Africa. Members voluntarily join together to pool their money on a regular basis (usually weekly or monthly) to achieve financial goals, support each other during hardships, or make major purchases.

The stokvel industry is massive, driving an estimated R50 billion market with over 11 million participants across the country.

How Does it Work?

Every member agrees to contribute a fixed amount of money at set intervals. The pooled money is distributed to members based on the group’s specific rules. Historically, stokvels have been built entirely on mutual trust, social ties, and shared accountability among neighbors, friends, or family. Ideal for SA’s Ubuntu.

Common Types

• Rotation Stokvels: Members take turns receiving the entire pooled lump sum each month. If 12 people contribute R1,000 monthly, one person gets a R12,000 payout each month.
• Accumulation / Grocery Stokvels: Members pool money throughout the year. In December, the accumulated funds are used to buy bulk groceries or split as cash for the holidays.
• Burial Societies: Members contribute to a shared safety net that pays out a specified amount to cover funeral costs if a member or their relative passes away.
• Investment / Property Stokvels: A modern variation where members pool large amounts of capital to buy property, purchase shares, or invest in business ventures.

How About a:

Neighbourhood Stokvel: People in a street or suburb contribute monthly towards a fixed goal – fencing a park, CCTV, end of year get together, support another neighboiurhood or street.

Capitec Stokvel Model

Supports a maximum of 40 members per savings circle.

Opening and managing the account requires exactly 3 main members acting as administrators.

The circle consists of 3 main members and up to 37 general members.

Main administrators must be at least 18 years old, possess a valid South African ID, and have an active primary Capitec banking account.

Transparency Features

To protect pool funds, all 3 main members must authorize any digital payout or withdrawal before it clears. One single individual cannot access the funds unilaterally.

Every single member – including general contributors – has real-time visibility over the group’s complete transactional ledger and tracking tools on their app.

Capitec charges no monthly account maintenance or administrative fees to maintain the stokvel profile, ensuring all capital stays inside the group.

Interest Rates:

The interest paid in is over 5 tiers with an effective annual yield ranging from 5.27 to 6.17% with 5.27% being paid on your balance of R1.00 or more and 6.17% paid on balances of R1 000 000 and more.

Unlike rigid notice or fixed deposits, the money remains accessible immediately when authorized, completely bypassing early-withdrawal penalty fees.