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    tax-free savings account

    Invest for the long term, for your future or your children’s.

    Benefits

    The benefits of the tax-free savings account:

    • You can open one tax-free savings account at any of our branches
    • Deposit any amount up to R33 000 per year (single or multiple deposits)
    • Choose any investment term from 12 – 24 months
    • Earn interest from R1

    South African Revenue Service (SARS) rules

    • Contribution limits 
      • Your combined limit for the financial year (1 March – 28 February) across all tax-free savings accounts, including those at other financial services providers, is R33 000
      • Lifetime limit is R500 000
      • Contributions over these limits are taxed at 40%
    • Interest earned will not be taxed
    • Money withdrawn cannot be replaced
    • Money may be transferred to and from a tax-free account at another financial services provider
    • Other savings plans may not be converted to a tax-free savings account

    Rates and fees


    Term (Months) R0

    – R9 999

    R10 000

    – R24 999

    R25 000 

    –  R100 000 

    R100 000+

    Nominal Effective Nominal Effective Nominal Effective Nominal Effective
    12 5.10%

    5.22%

    6.25%

    6.43%

    6.50%

    6.70%

    6.60%

    6.80%

    13 – 18 5.10%

    5.22%

    6.50%

    6.70%

    6.75%

    6.96%

    6.95%

    7.18%

    19 – 24 5.10%

    5.22%

    7.10%

    7.34%

    7.25%

    7.50%

    7.35%

    7.60%


    A fee of R300 applies for early access to your money.

    The nominal rate is when the interest from your fixed deposit account is paid out every month, and not reinvested. The effective rate is higher because you earn interest on the interest that is reinvested in your fixed deposit account.

    Although Capitec Bank is an authorised financial services provider (FSP 46669), we are not permitted to provide financial advice on any of our savings plans. In case of any disputes we have an independent Compliance department which can be contacted using the number 0860 10 20 43, as required by the Treasury Disclosure Notice.