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Tax-Free Savings Account

Get smart, simple, tax-free growth on your savings.

Open now Interest rates

Tax-Free Savings

Interest rates Open now

Tax-Free Savings

Get smart, simple, tax-free growth on your savings.

Interest rates Open now

Save or invest /
All products /

More about Tax-Free Savings

Where to apply

Benefits
Earn interest tax-free

Earn an additional Digital Bonus Rate if you apply and maintain your account using your Absa Banking App or Absa Online

Immediate access to your funds

Deposit funds anytime you like or set up a recurring monthly payment of R250 or more subject to the current tax-free limits

Save up to R36 000 limit per tax year and R500 000 lifetime limit

No monthly management fee
What you need to know
Over contribution will result in SARS levying a penalty fee of up to 40%

View terms and conditions

View rates and fees
What you need to apply
Opening deposit of R1 000

Your South African ID

Proof of residence (not older than three months)
Where to apply
Your Absa Banking App

In Absa Online

Call 0860 111 515

At your nearest Absa branch

Similar product

Tax-Free Fixed Deposit

Lock in your savings and earn tax-free interest

Opening deposit

R30 000

Earn interest up to

7.39%

Access to funds

At maturity

Tell me more Call me back

All interest rates are expressed as a percentage per annum and are indicative. Rates subject to change.

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