Stokvel SA | Savings | South Africa - Quick Consolidation Loans

Stokvel SA

Stokvel SA is a common investment or account among individuals, saving their money for a common reason. They may save their money to plan a trip abroad, buy groceries at the end of the year or for funeral services in times of loss. It is money that goes into a common pot for all to access when needed. Everybody knows what the details of the investments are, as it is mainly a savings solution for consumers. While the stokvel rules change from account to account, the basis is the same across all types of stokvels.

As a legitimate stokval, the investment must be a registered member of the National Stokvel Association of South Africa (Nasasa) or a similar body and conform to its rules. The guidelines set allows this investment system to operate within the law, unlike its ugly step sister – the MMM scheme.

While still a style of investment that many are skeptical of, many like Stokvel SA have a bad reputation of not paying out in time, or at all. While this is a common issue with some of the bigger providers, this can be a great mode to saving for a closed group of consumers or colleagues. With easy to use online systems as well, this an accessible savings option.

A great way especially for low income earners to form a fairly lucrative savings plan, many are a part of these stokvels to ensure they have access to money when they need it.

For advice on saving and debt management, Quick Consolidation Loans has solutions for you.

We will be able to offer advice on the suitability of debt consolidation to your specific financial situation, as there are instances where it would prove unsuitable. Our consultants will be able to help you with regards to secured and unsecured debt consolidation, and advice as to which would be most favorable to your outstanding debts. Operating on a national basis, we can also provide you with debt counseling or a debt review in South Africa. As mentioned, debt consolidation could save you on monthly payments and interest rates, which has made it a viable option for many. To find out if debt consolidation in South Africa is an option for you, contact Quick Consolidation Loans today.