Sibekelo Account

An investment product that cultivates good savings culture. It is a simple savings account that enables you to save in a disciplined way. This account works on the premise of a fixed monthly instruction from your transactional account.

Features

  • You may choose your investment period, ranging from 6months, 1yr, 2yrs or even 3yrs
  • You may open more than 1 of this account
  • Savings may start off with a lump sum and additional deposits may be made at any time
  • Ability to top up your funds invested at any point
  • Competitive tiered and variable interest rates
  • Interest is paid on maturity
  • A bonus interest is awarded to long term savers
  • Bonus interest is paid on maturity date and only if not more than 2 consecutive stop orders were missed
  • No transactional or management fees, however no interest will be paid out in case of breached contract
  • May be pledged as security for a loan
  • Minimum balance is SZL100

Requirements

  • Open to anyone wanting to grow their money long-term
  • Transactional account
  • Strictly a monthly savings product with no withdrawals

 
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