Saving & Investments

This investment was conceived out of a desire to reward corporate and institutional investors that support the SBS in its mission of empowering the local economy through housing and commercial mortgage financing.

How it works

Deposits The minimum initial deposit is E300,000 for individuals and E1.M for corporate clients. Deposits can be made through the Society’s branches across the counter or by electronic transfers from depositor’s bankers.

Withdrawals

These may be made using written instructions addressed to the head office that may be made through the nearest branch of the society. Payment may be made by cheque payable to depositor or by transfer to another account within the society or electronically transferred to depositor’s bankers.

Terms of Investment

The minimum term of investment is 6 months. Thereafter the customer can negotiate new terms.

Notice of Withdrawals

A minimum of 2 days notice is required to withdraw part or all of the investment on maturity.

Interest

Interest is comparable to that offered by money market rates and is linked to the prime-lending rate. Interest rates can be obtained at the nearest SBS Branch.

Statements

Statements are avilable on request.

Benefits

• Rates offered for this investment are comparable to rates offered by money market
• The investment provides an avenue for mopping-up large pools of short term funds from corporate and institutional investors
• With interest credited or capitalized monthly the effective rate becomes better than nominal rate offered
• The society provides a safe haven for investment of funds given its long experience in the housing finance sector, spanning many years of growth and progress in the country.

To open an account - Individuals

• Certified copy of Swazi National ID
• Proof of residence e.g utility bills, electricity bill, water bill, rates bill, and lease agreement (not older than 3 months)
• Proof of income (not older than 3 months)

To open an account - Businesses

• Resolution to open the account
• Memorandum and Articles of Association
• Certificate of Incoportation
• Current Trading Licence
• Current form J
• Licence from FSRA in case of insurance and retirement fund companies
• Directors certified copies of ID
• Directors proof of residence, utility bill or rates statements (not older than 3 months)
• Company proof of residence utility bill or rates statements (not older than 3 months)
• Completed application form
• Complited mandate with signing instruction

It is a short or medium term investment for a deposit at a fixed rate of interest for a fixed period of time. The Account

It is an ultra-short term investment that mobilizes large deposits that are transient by nature; such as money that would otherwise be in a current account awaiting presentation of cheques in transit or better still, money invested on low-interest Call Account

How it works

Establishing a Special Call Account is simple. For businesses it is just a phone call away. The Special Call Account delivers the rewards and convenience of transacting as indicated below. A minimum deposit of E50,000 is required. Funds Must Be Available Instantly Funds invested must be available on demand for same day value. This is what the SBS Special Call Account offers, wherever your account may be in Swaziland, SBS commits to funding your account on same day value basis.

Investment Offer Better Interest

This criteria has been met in conceptualizing the SBS Special Call Account as a deliberate policy was to pitch the interest rate offered for this investment higher than the rate offered by the sector for similar investment, in order to reward businesses for investing with the Society.

Investment Must Offer Convenience of Transacting

Investments into Special Call Account can be made by cheque, preferably, by funds transfer. The latter method is the most preferred, as funds transfer need no clearing period. Withdrawals from call are just a simple instruction away, and funds can be paid into the business current account immediately; irrespective of where this would be maintained in Swaziland. Same day value is guaranteed as online/electronic means are available to do this. In this instance, requirements to fund an overdrawn current account on a same day value basis are available as long as this is done before the cut-off times that would be advised to investors.

Investment Must Be Guaranteed for Safety

With the online/electronic transfer protocols in place risk is not a factor in the processing of deposits and withdrawals over the Special Call Account offered by the Society.

Interest

This investment pays the interest in its class as indicated above. Interest is calculated daily and accrued on the cleared balance of the investment for crediting to the account at the end of each month.

Deposits

can be paid across the counter for cash and cheques in any of our branches, irrespective of where the account was opened or is being hosted. Online deposits or transfers can be initiated from accounts of credit of all account of client through client’s bankers.

Withdrawals

in the form of written instructions can be made to the branch hosting the call account in order to comply with mandates of client.

To open an account - Individuals

• Certified copy of Swazi National ID
• Proof of residence e.g utility bills, electricity bill, water bill, rates bill, and lease agreement (not older than 3 months)
• Proof of income (not older than 3 months)

To open an account - Businesses

• Resolution to open the account
• Memorandum and Articles of Association
• Certificate of Incoportation
• Current Trading Licence
• Current form J
• Licence from FSRA in case of insurance and retirement fund companies
• Directors certified copies of ID
• Directors proof of residence, utility bill or rates statements (not older than 3 months)
• Company proof of residence utility bill or rates statements (not older than 3 months)
• Completed application form
• Complited mandate with signing instruction

Fixed Period Shares present a fantastic opportunity for you to earn high returns. This has been designed for a wide range of investors who want high yields both corporate and individuals.This product offers a variable dividend rate of interest which will be adjusted in accordance with movements in the market. Interest is paid out in December.

Minimum Investment - E25,000.00
Period of Deposit - 24 months renewable
Dividend Rate - Variable interest rate per annum

Important information for clients

Your investment certificate must be kept in a place of safety to reduce the risk of loss or unauthorized use. If the certificate is lost or stolen, the Society must immediately be notified in writing. All accounts are governed by the Society’s rules and regulations in force from time to time. A copy of the rules will be supplied on request.

Dividends will be at a variable rate which will be adjusted in accordance with movements in the market.

It is a long term investment which pays dividends at highly competitive rates. It is suitable for both individual and institutional investors who have lump sums to save and want returns on their investments

How it works

Permanent Shares may be opened with a minimum of deposit of E5000. Additional deposits may be made at any of our branches. The holder of these may, after the expiry of 36 months from date of issue, request that the shares be redeemed after a period of six months notice. Permanent Shares may be pledged against Short Loans not exceeding 90%. The Short Loans are repayable within 36 months.

Dividends

Dividends are paid half yearly in June and December. SBS will accept instructions relating to disposal of dividends. Options are available to re-invest or to credit an alternative account held at the SBS.

Benefits

• The are no charges on this account
• Offers investors a stake in SBS shareholding.
• Offers investors a high return.
• Guarantees instant access to you money via Short Loan Facility.
• With dividends (interest) payable half yearly.
• Possibility of special dividends which are determined by the organizations performance.
• In the event of an emergency, permanent shares may be pledged to qualify for a short loan not exceeding 90% of your investment.

To open an account

• Certified copy of Swazi ID
• Proof of residence e.g. Utility bills, electricity bill, water bill, rates bill and lease agreements (not older than 3 months)

It is a short or medium term investment for a deposit at a fixed rate of interest for a fixed period of time.

How it works

A minimum initial deposit of E1000.00 is required to open a Fixed Deposit. Fixed Deposits are available for periods of three, six, nine, twelve and twenty four months. The sum placed on the Fixed Deposit may not be withdrawn before the expiry of the period of the deposit. For additional deposits, which should not be below E1000, new Fixed Deposit receipts will be issued on the spot. On the expiry of the term, the Fixed Deposit may be renewed. Alternatively interest accrued and capital maybe credited into another account within SBS.

Interest

Interest is paid at the expiry of the Fixed Deposit.

Benefits of this Investment

• Investors are guaranteed immediate access to their money via Short Loan not exceeding 90% .
• Affordable opening balance.
• It is convenient to save for special and occasional purposes.
• It has flexible investment periods.

To open Account

• E1000.00 minimum deposit
• Certified copy of Swazi ID
• Proof of residence e.g. Utility bills, electricity bill, water bill, rates bill and lease agreements (not older than 3 months)
• Proof of income not older than 3 months

This is an affordable short to long term investment product . After accumulating substantial savings, Subscription Shares are your gateway to higher earning investment products such as Fixed Deposits, Permanent Shares and Fixed Period Shares.

How it works

You can start with a minimum initial deposit of E100.00. You can choose between 12, 24 or 36 months Subscription periods. Your Subscription Shares can only be redeemed at the end of the period you have chosen.Interest rate is linked to the prime rate and may change from time to time.

Interest

SBS will accept instructions relating to the disposal of interest. Options available are to reinvest or to credit an alternative account held at the Society. Customers are encouraged to reinvest interest in line with the spirit of the investment product.

Benefits

• There are no charges
• It pays good interest
• You can also accumulate a deposit towards school fees /tuition fees, buying your new home or save up for home improvements.

To open Account

• E100.00 deposit
• Certified copy of Swazi ID
• Proof of residence e.g. Utility bills, electricity bill, water bill, rates bill and lease agreements (not older than 3 months)
• Proof of income not older than 3 months

The Gold Account is a savings account suitable for both individual and institutional savers who would like to retain access to their money and achieve growth on their savings account.

How it works:

A Gold Account may be opened with a minimum deposit of E1,000. Additional deposits of any amount may be made over the counter at any branch or through stop order or by stop order or digital transfares Monthly interest may either be capitalized, used towards reduction of an outstanding loan or directed towards an alternative account. Capitalizing your interest is encouraged in order for you to benefit from the compounding effect. Interest is paid monthly based on daily balance.

Interest

• Interest is paid monthly.
• The interest is variable according to the sum invested and the period of investment.
• Monthly interest may be either capitalized , used to reduce outstanding loan or directed towards an alternative account within SBS
• Capitalizing your interest has a compounding effect

Benefits

• Access to your money 24/7
• ATM services
• Mobile and internet services
• Litsemba Group Funeral Cover
• The first two transactions are free when withdrawing from inside SBS
• Affordable initial minimum deposit
• SMS notification to keep you updated on all account activity

To open account

• E1,000.00 minimum deposit
• Certified copy of Swazi ID
• Proof of residence (Utility Bill, water bill, electricity bill, rates bill and lease agreement not older than 3 months)
• Proof of income not older than 3 months

It is a deposit account suitable for individuals who would like to have unlimited access to their finances.

How it works

The minimum initial deposit for non interest bearing is E100.00 and E300.00 for interest bearing account.

Interest

Interest is payed out annually at the end of June. This only applies to customers who have deposited a minimum of E300.00

Benefits

• Access to your money 24/7
• ATM services
• Mobile and internet services
• Litsemba Group Funeral Cover
• Affordable initial minimum deposit
• SMS notification to keep you updated on all account activity

To open account

• Certified copy of Swazi ID
• Proof of residence (Utility Bill, water bill, electricity bill, rates bill and lease agreement not older than 3 months)
• Proof of income not older than 3 months

Special Savings

It is a savings account suitable for individuals and institutional savers who would like to retain access to their money and still earn good return

How it Works

A Special Savings Account may be opened with a minimum deposit of E500. Additional deposits can be made over the counter at any of our branches, through stop order or digitally

Interest

Interest is paid monthly.

Benefits

• Access to your money 24/7
• ATM services
• Mobile and internet services
• Litsemba Group Funeral Cover
• The first two transactions are free when withdrawing from inside SBS
• Affordable initial minimum deposit
• SMS notification to keep you updated on all account activity

To open account

• E500.00 minimum deposit
• Certified copy of Swazi ID
• Proof of residence (Utility Bill, water bill, electricity bill, rates bill and lease agreement not older than 3 months)
• Proof of income not older than 3 months

It is a savings transnational account that allows you to unlimited access to your funds. It caters for individuals within all income groups.

How it Works

Holders of Sipatji account that have received at least 6 months' salary or pension payment qualify for an overdraft (loan). Sipatji account allows non salaried individuals to open it as a savings account

Benefits

• Personal finance (loan of up to E350 000.00). Flexible repayment term up to 60 months at competitive interest rates
• Access to Mobile and Internet services
• Access to Litsemba Group Funeral Cover
• Access to your money 24/7
• ATM services
• Mobile and internet services
• Affordable initial minimum deposit
• SMS notification to keep you updated on all account activity

To open account

• E50.00 minimum deposit
• Certified copy of Swazi ID
• Proof of residence (Utility Bill, water bill, electricity bill, rates bill and lease agreement not older than 3 months)
• Proof of income not older than 3 months

Children between the ages of 1 month to 16 years

The Account

Opening balance is E50.00. This account was designed to teach your child to learn savings culture at an early age. To create awareness while empowering your child, you are encouraged to always share accounts and transactional information with the child.

Interest

Interest is paid monthly.

Benefits

• Less fees and charges
• Child financial literacy
• Building confidence among children

To open account

• E50.00 minimum deposit
• Certified copy of Swazi ID and child's birth certificate
• Proof of residence (Utility Bill, water bill, electricity bill, rates bill and lease agreement not older than 3 months)
• Proof of income not older than 3 months

It is for groups of individuals desiring to save as groups/cooperatives and earn good interest. Amounts contracted for saving are deducted and remitted by employer. This is the best method used by employers to instill the culture of saving upon employees. It is good for annual saving plan.

Minimum required deposit E100.