Standard Bank Fundisa Fund - Stanlib

Standard Bank
Fundisa Fund
Saving for Tertiary
Education

What is Fundisa?
The Standard Bank Fundisa Fund is an investment that
allows investors to save money for the tertiary education
of any South African child from a low-income household.
The investment is flexible in that investors can save for
any child even if the child is not their own. These savings
are to be used at a National Student Financial Aid Scheme
(NSFAS) accredited public FET college or university – in
order to benefit fully, the money may only be used for
tertiary educational purposes.
The initial pilot period for the Fundisa Fund came to an
end in November 2011 and the next phase of the product
has been launched from 1 March 2013 by the savings
and investment industry together with the Department
of Education. All the parties agreed that for the next
phase of Fundisa, the product will only be available to
households that have an annual income of less than
R180 000. This is therefore the means test that will
be applied on the opening of an account for all new
beneficiaries.
A unique feature of Fundisa is the bonus that the
account holders receive each year. This bonus serves as
both a reward and encouragement for account holders to
continue saving.
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How does Fundisa work?
In order to open a Fundisa account, over and above qualifying
on household income, an investor should have a minimum of a
bank savings account and set up a debit order for the chosen
investment amount.
For a minimum monthly debit order or any lump sum amount of
R40 invested anytime during the 12 month period from the
beginning of October to the end of September each year,
you will then receive an additional 25% of your total net
contributions over a year, up to a maximum of R600.
Bonuses are calculated at the end of September each year and
paid into the investor’s account by the end of January of the
following year. On the other hand, if you have withdrawn any
amount during the same period, then you will lose 25% of that
amount.
What fees are charged?
No initial fees are charged on your investment unless a registered
financial advisor has assisted you with your investment. In this
case the advisor can charge up to 3% (excl. VAT) on your
investment.
An annual fee of 1.25% (excl. VAT) is charged and will be
deducted from income earned on your investment.
Banks may also charge a debit order fee for monthly
contributions where applicable.
How does the bonus work?
You will be given a bonus worth 25% of the money you save
during a year to a maximum amount of R600 – for each child.
For example: if you save R40 per month for 12 months, you
would have saved R480 and you’ll receive a bonus of R120 (25%
of R480) for that year. If you save R200 per month for a year,
or save a lump sum of R2 400 in a year, you will receive 25% of
R2400 which is R600 and is the maximum bonus you can get in
a year (for each child).
Since the bonus is restricted to R600 per beneficiary, per year,
any transfer of bonus between beneficiaries has to meet this
restriction and has to be done with a corresponding transfer of
investor money.
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The annual bonus allocation will be made provided that there
is money still available in the bonus pool.
If you need to take your money out of your Fundisa Fund
account you can, but then you will lose the 25% bonus you
would have received for that money.
Who can invest and who can benefit?
Any individual can invest in the Standard Bank Fundisa Fund,
but all children/ nominated students have to be South
African citizens and must be from households earning
less than R180 000 p.a.
Beneficiaries have to be below the age of 35 in order to
earn a bonus and must study before the age of 35 in order
to have access to the bonus.
How do I utilise my savings?
In order to benefit from the bonus, the money saved must be
used towards studying costs at a public college or university
that is recognized by the National Student Financial Aid
Scheme (NSFAS). In order to avoid losing the bonus money,
investors must ensure that the child/ nominated student on
the Fundisa account is the same as the one who is registered
to study. The list of institutions is available on request from
STANLIB Collective Investments.
The following are the easy steps:
Learner (child/ nominated student) ready
to study before 35 years old
Investor completes a withdrawal/
repurchase form and submits it with proof
of acceptance or registration to STANLIB
OR Investor calls STANLIB Fundisa Call
Centre (0860 386 3472) for assistance.
STANLIB pays investor savings, bonus
savings and interest directly to the
Institution.
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How can I invest?
Complete a Fundisa application form at any Standard Bank
branch OR download the application form off the STANLIB
website at www.stanlib.com. Alternatively, call the STANLIB
Contact Centre on 0860 FUNDISA (386 3472) in order to
have an application form faxed to you.
The only documentation that one is required to send
through is a copy of the investor’s ID and a copy of the
child’s birth certificate.
Once your application form has been accepted and
processed, your investment amount will be deducted
monthly from your personal Bank Account.
STATUTORY DISCLOSURE The Fundisa Fund is not a bank deposit, but a collective investment scheme
(unit trust) which is generally a medium to long term investment. The value of your investment may
go down as well as up during the period of investment. Past performance is not necessarily a guide
to future performance. The Fundisa Fund is traded at a ruling price and can engage in borrowing and
scrip lending. A schedule of fees and charges and maximum commissions is available on request from
STANLIB Collective Investments Limited (“the Manager”) Commission and incentives may be paid and
if so, would be included in the overall costs. Liberty is a member of the Association for Savings and
Investment of South Africa. The Manager is a member of the Liberty group of companies. Trustees:
Absa Bank Ltd, 6th Floor, Absa Towers North (6E1), 180 Commissioner Street, Johannesburg, 2001.
Telephone No. 011 350 4000.
STANLIB Wealth Management Limited is an authorised Financial Services Provider in terms of the Financial
Advisory and Intermediary Services Act 37 of 2002 (Licence No. 26/10/590) 32ZB03
Liberty is a full member of the Association for Savings & Investment SA (ASISA).
STANLIB is a member of the Liberty group of companies.
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NSFAS Universities & FET
Colleges
Limpopo
Contact number
Capricorn FET College 015 291 3115/8
Lephalale FET College 014 763 2252/ 1014
Letaba FET College 015 812 3221
Mopani South East FET College 015 781 5721/5
Sekhukhune FET College 013 269 0278
University of Limpopo (Ga-Rankuwa Campus) 012 521 4622
University of Limpopo (Turfloop Campus) 015 268 3332
University of Venda 015 962 8531
Vhembe FET College 015 963 3156
Waterberg FET College 015 483 2441
Gauteng
Central Johannesburg FET College 011 484 1388
Ekurhuleni East FET College 011 736 4400
Ekurhuleni West FET College 011 323 1600
Sedibeng FET College 016 422 6645
South West Gauteng FET College 011 527 8300
Tshwane North FET College 012 401 1600
Tshwane South FET College 012 401 5021
Tshwane University of Technology 012 382 5911
University of Johannesburg 011 559 6223
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University of Pretoria 012 420 4111
University of South Africa 012 441 5491
University of the Witwatersrand 011 717 1030
Vaal University of Technology 016 950 9151
Western College for FET 011 692 4082
MPUMALANGA
Ehlanzeni FET College 013 752 7105
Gert Sibande FET College 017 712 9040
Nkangala FET College 013 690 1430/3824
KWAZULU-NATAL
Coastal KZN FET College 031 905 7200
Durban University of Technology 031 373 2000
Elangeni FET College 031 716 6700
Esayidi FET College 039 684 0110
Majuba FET College 034 326 4888
Mangosuthu University of Technology 031 907 7510
Mnambithi FET College 036 638 3800
Mthashana FET College 034 980 1010
Thekwini FET College 031 250 8400
Umfolozi FET College 035 902 9503
Umgugundlovu FET College 033 341 2100
University of Kwazulu-Natal 031 260 1111
University of Zululand 035 902 6030
FREE STATE
Central University of Technology 051 507 3911
Flavius Mareka FET College 016 976 0829/15
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Goldsfields FET College 057 391 0500
Maluti FET College 058 713 3048/6100
Motheo FET College 051 411 2000
University of Free State 051 401 7000
NORTH-WEST
North West University 018 299 4897
Orbit FET College 014 592 7014
Taletso FET College 018 363 4187
Vuselela FET College 018 406 7800
EASTERN CAPE
Buffalo City FET College 043 722 5453
East Cape Midlands FET College 041 995 2000
Ikhala FET College 045 838 2593
Ingwe FET College 039 255 0188
King Hintsa FET College 047 492 0060
King Sabatha Dalindyebo FET College 047 505 1001/2
Lovedale FET College 043 6040 700
Nelson Mandela Metropolitan University 041 504 1111
Port Elizabeth FET College 041 586 0002
Rhodes University 046 603 8111
University of Fort Hare 040 602 2213
Walter Sisulu University (Buffalo City Campus) 043 708 5200
Walter Sisulu University (Butterworth Campus) 047 401 2203
Walter Sisulu University (Mthatha Campus) 047 502 2838
Walter Sisulu University (Queenstown Campus) 045 838 2598
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WESTERN CAPE
Boland FET College 021 886 7111
Cape Peninsula University of Technology 021 959 6911
College of Cape Town 021 404 6700
False Bay FET College 021 003 0600
Northlink FET College 021 970 9200
South Cape FET College 044 884 0359
Stellenbosch University 021 808 9111
University of Cape Town 021 650 1704
University of the Western Cape 021 959 2911
West Coast FET College 022 482 1143
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17 Melrose Boulevard, Melrose Arch, Johannesburg
0860 FundiSA (3863472)
STANLIB Collective Investments Limited
Reg. No 1969/003468/06