OTE2601
Assignment 3 2025
Detailed Solutions, References & Explanations
Unique number:
Due Date: 8 July 2025
QUESTION 1
Introduction
Stokvels are one of South Africa’s most trusted informal saving systems, offering group-
based financial support for a variety of goals. While traditionally managed without formal
institutions, many banks now offer stokvel accounts with added benefits such as
security, interest earnings, and digital management tools.
Comparison of Stokvel Account: FNB vs Nedbank
FNB Stokvel Account
FNB offers a stokvel account with no monthly fee and immediate access to funds. It
sends free notifications to all signatories and calculates interest based on the total
amount saved. FNB provides some of the most competitive interest rates, ranging from
Terms of use
0.25% (for R1–R999) to 4.65% (for R100,000 and above). The account requires agree
By making use of this document you ID to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
Assignment 3 2025
Detailed Solutions, References & Explanations
Unique number:
Due Date: 8 July 2025
QUESTION 1
Introduction
Stokvels are one of South Africa’s most trusted informal saving systems, offering group-
based financial support for a variety of goals. While traditionally managed without formal
institutions, many banks now offer stokvel accounts with added benefits such as
security, interest earnings, and digital management tools.
Comparison of Stokvel Account: FNB vs Nedbank
FNB Stokvel Account
FNB offers a stokvel account with no monthly fee and immediate access to funds. It
sends free notifications to all signatories and calculates interest based on the total
amount saved. FNB provides some of the most competitive interest rates, ranging from
Terms of use
0.25% (for R1–R999) to 4.65% (for R100,000 and above). The account requires agree
By making use of this document you ID to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
