Terms and Condtitions
Terms and Conditions for The Savings Club
Introduction
Welcome to The Savings Club. These Terms and Conditions ("Terms") govern your participation
in our lottery feature ("Lottery") available exclusively to users in South Africa. By participating in
the Lottery, you agree to comply with these Terms.Eligibility
● Participants must be 18 years or older.
● Participation is limited to residents of South Africa with a valid South African ID.
● Participants must be employed at a company that has signed up for The Savings Club
benefit.
● Employees of The Savings Club and their immediate family members are not eligible.How It Works
● Savings Contributions: Users contribute funds to their savings, which serves as an entry
into the Lottery.
● Lottery Draws: Periodic draws are conducted, and winners are selected randomly.
● Prize Pool: The prize pool is funded by interest earned on pooled savings and additional
contributions as applicable.
● Entry Tickets: For every R100 saved, participants receive one entry ticket into the Lottery.Draw Mechanics
● Draw Method: The draw is conducted using a certified random number generator to
ensure fairness and transparency.
● Frequency: Draws occur monthly unless otherwise specified.
● Entry Criteria: Each R100 contribution equates to one lottery entry ticket.Winning Criteria
Number Matching: Participants must match at least 3 out of 6 drawn numbers to qualify for a
prize. The more numbers matched, the higher the prize tier.
Prize Tiers:
● Match 3 numbers: Entry-level prize.
● Match 4 numbers: Mid-tier prize.
● Match 5 numbers: High-tier prize.
● Match 6 numbers: Jackpot prize.Prize Allocation
● Winnings are allocated to the participant's predefined financial goals, such as debt
repayment or savings accounts.
● Prizes are non-transferable and cannot be exchanged for cash.
● All draws are final and not subject to appeal unless procedural errors are identified.
● The draw process is periodically reviewed to ensure compliance with fairness standards.
8. Fees and Charges
● A participation fee of 3% is deducted from contributions as an administration fee.
● No additional charges are applied beyond the participation fee.
9. Dispute Resolution
● Any disputes arising from the Lottery will be resolved through internal review by The
Savings Club.
● If unresolved, disputes may be escalated to relevant South African legal bodies.
10. Amendments
The Savings Club reserves the right to amend these Terms at any time. Notice of changes will be
provided through official communication channels.