OTE2601
ASSIGNMENT 3 2025
UNIQUE NO.
DUE DATE: 8 JULY 2025
, QUESTION 1 [25]
Compare the Stokvel Account from FNB or Standard Bank with the Stokvel
Account of ABSA or Nedbank. Also elaborate on types and roles of various
stokvels.
Comparison of Stokvel Accounts:
Feature FNB (Example) ABSA (Example)
Minimum
3 members 3 members
Members
Competitive, depending on
Interest Rate Tiered, depending on balance
balance
Group-appointed signatories
Access to Funds Any member with permission
only
Low fees or pay-as-you-use Monthly administration fee
Bank Charges
options applies
Online Via FNB app and cellphone
ABSA app and internet banking
Management banking
Additional Rewards programs, funeral
Burial cover, cashback offers
Benefits cover
Types and Roles of Stokvels:
1. Savings Stokvels: Members contribute regularly and take turns receiving lump
sums. Role: Promotes saving and financial discipline.
ASSIGNMENT 3 2025
UNIQUE NO.
DUE DATE: 8 JULY 2025
, QUESTION 1 [25]
Compare the Stokvel Account from FNB or Standard Bank with the Stokvel
Account of ABSA or Nedbank. Also elaborate on types and roles of various
stokvels.
Comparison of Stokvel Accounts:
Feature FNB (Example) ABSA (Example)
Minimum
3 members 3 members
Members
Competitive, depending on
Interest Rate Tiered, depending on balance
balance
Group-appointed signatories
Access to Funds Any member with permission
only
Low fees or pay-as-you-use Monthly administration fee
Bank Charges
options applies
Online Via FNB app and cellphone
ABSA app and internet banking
Management banking
Additional Rewards programs, funeral
Burial cover, cashback offers
Benefits cover
Types and Roles of Stokvels:
1. Savings Stokvels: Members contribute regularly and take turns receiving lump
sums. Role: Promotes saving and financial discipline.