Use your tax-free savings allowance to grow your investment year on year.

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Tax-free savings account

You may contribute up to R33 000 in a year and R500 000 in your lifetime without paying tax on the interest earned.

Immediate access to your money

You can access your money immediately online or at any Absa branch.

Emergency fund

It is the perfect way to start growing an easily accessible emergency fund.

Applying for a Tax-Free Savings Account
When applying, you will need:
  • Your South African ID
  • Proof of residence (not older than 3 months)

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Features of the Tax-free Savings account
What you need to know
  • You need R1 000 to open the account.
  • You can add to your savings whenever it suits you – subject to the current tax-free limits.

See our interest rates

for Tax-free Savings account
  Rate
Balance tiers  
R 0.01 - R14 999.99 3.50%
R 15 000.00 - R 29 999.99 5.50%
R 30 000.00 - R 49 999.99 6.00%
R 50 000.00 - R 74 999.99 6.05%
R 75 000.00 - R 99 999.99 6.10%
R 100 000.00 - R 249 999.99 6.10%
R 250 000.00 - R 499 999.99 7.00%
R 500 000.00 - R 9 999 999 999 999.99 7.00%

Last reviewed on 29 March 2018

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

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Need more help?

Let one of our consultants help you get the best account for your needs.

Call us on:

0860 111 515

Email us at:

saving@absa.co.za

Visit your nearest branch