Tax-free savings
Save up to R36 000 a year without getting taxed on the interest.
Save up to R36 000 a year without getting taxed on the interest.
Find out how to open a tax-free savings account for your child.
| Term (Months) | R0 - R9 999 | R10 000 - R74 999 | R75 000 - R249 999 | R250 000+ | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| 12 | 2.00% | 2.02% | 6.95% | 7.18% | 7.00% | 7.23% | 7.05% | 7.28% |
| 13 - 18 | 2.00% | 2.02% | 7.00% | 7.23% | 7.05% | 7.28% | 7.10% | 7.34% |
| 19 - 24 | 2.00% | 2.02% | 7.05% | 7.28% | 7.10% | 7.34% | 7.15% | 7.39% |
| 25 - 36 | 2.00% | 2.02% | 7.10% | 7.34% | 7.15% | 7.39% | 7.20% | 7.44% |
| 37 - 48 | 2.00% | 2.02% | 7.15% | 7.39% | 7.20% | 7.44% | 7.25% | 7.50% |
| 49 - 60 | 2.00% | 2.02% | 7.20% | 7.44% | 7.25% | 7.50% | 7.45% | 7.71% |
| Term (Months) | R0 - R9 999 | R10 000 - R74 999 | R75 000 - R249 999 | R250 000+ | ||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Effective | Nominal | Effective | Nominal | Effective | Nominal | Effective | |
| 12 | 2.00% | 2.02% | 6.95% | 7.18% | 7.00% | 7.23% | 7.05% | 7.28% |
| 13 - 18 | 2.00% | 2.02% | 7.00% | 7.23% | 7.05% | 7.28% | 7.10% | 7.34% |
| 19 - 24 | 2.00% | 2.02% | 7.05% | 7.28% | 7.10% | 7.34% | 7.15% | 7.39% |
| 25 - 36 | 2.00% | 2.02% | 7.10% | 7.34% | 7.15% | 7.39% | 7.20% | 7.44% |
| 37 - 48 | 2.00% | 2.02% | 7.15% | 7.39% | 7.20% | 7.44% | 7.25% | 7.50% |
| 49 - 60 | 2.00% | 2.02% | 7.20% | 7.44% | 7.25% | 7.50% | 7.45% | 7.71% |
| R0 - R9 999 | ||
|---|---|---|
| Nominal | Effective | |
| 12 | 2.00% | 2.02% |
| 13 - 18 | 2.00% | 2.02% |
| 19 - 24 | 2.00% | 2.02% |
| 25 - 36 | 2.00% | 2.02% |
| 37 - 48 | 2.00% | 2.02% |
| 49 - 60 | 2.00% | 2.02% |
| R10 000 - R74 999 | ||
| Nominal | Effective | |
| 12 | 6.95% | 7.18% |
| 13 - 18 | 7.00% | 7.23% |
| 19 - 24 | 7.05% | 7.28% |
| 25 - 36 | 7.10% | 7.34% |
| 37 - 48 | 7.15% | 7.39% |
| 49 - 60 | 7.20% | 7.44% |
| R75 000 - R249 999 | ||
| Nominal | Effective | |
| 12 | 7.00% | 7.23% |
| 13 - 18 | 7.05% | 7.28% |
| 19 - 24 | 7.10% | 7.34% |
| 25 - 36 | 7.15% | 7.39% |
| 37 - 48 | 7.20% | 7.44% |
| 49 - 60 | 7.25% | 7.50% |
| R250 000+ | ||
| Nominal | Effective | |
| 12 | 7.05% | 7.28% |
| 13 - 18 | 7.10% | 7.34% |
| 19 - 24 | 7.15% | 7.39% |
| 25 - 36 | 7.20% | 7.44% |
| 37 - 48 | 7.25% | 7.50% |
| 49 - 60 | 7.45% | 7.71% |
A fee of R300 applies for early access to your money.
The nominal interest rate is used to calculate the daily interest earned on your account balance, which accumulates until it is capitalized on an agreed date every month. The interest is then either reinvested or transferred to your savings account.
The effective annual interest rate is calculated by taking into account the fact that interest is earned on capitalised interest over a period 12 months.
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.
| Account types | Access anytime | Notice deposit | Fixed-term | Tax-free |
|---|---|---|---|---|
| Access | Immediate | 7 or 32 days' notice | On maturity date | On maturity date |
| Interest rate | 2.00% - 6.25% | 3.00% - 7.55% | 2.00% - 8.60% | 2.00% - 7.45% |
| Interest type | Variable* | Variable* | Fixed | Fixed |
| Purpose | Everyday savings | Short to medium-term | Medium to long-term | Medium to long-term |
| Early access fee** | No | Yes | Yes | Yes |
| Access | |
|---|---|
| Access anytime | Immediate |
| Notice deposit | 7 or 32 days' notice |
| Fixed-term | On maturity date |
| Tax-free | On maturity date |
| Interest rate | |
| Access anytime | 2.00% - 6.25% |
| Notice deposit | 3.00% - 7.55% |
| Fixed-term | 2.00% - 8.60% |
| Tax-free | 2.00% - 7.45% |
| Interest type | |
| Access anytime | Variable* |
| Notice deposit | Variable* |
| Fixed-term | Fixed |
| Tax-free | Fixed |
| Purpose | |
| Access anytime | Everyday savings |
| Notice deposit | Short to medium-term |
| Fixed-term | Medium to long-term |
| Tax-free | Medium to long-term |
| Early access fee** | |
| Access anytime | No |
| Notice deposit | Yes |
| Fixed-term | Yes |
| Tax-free | Yes |
No monthly fees - all accounts are free.
*Variable interest rates may change over time.
*All interest rates shown are nominal.
