Get a 12 month Tax Free Fixed Deposit account with a good interest rate, and pay no tax on your interest

Visit your nearest branch

Tax-free savings account

Capital guaranteed

Your capital and interest are guaranteed.

Immediate access to your money

Minimum investment

Start from R30 000 per tax year.

Emergency fund

Switch to Absa

Transfer funds from another institution to ours without losing your tax free benefit.

  • When applying, you will need

    • Your South African ID
    • Proof of residence (not older than three months)

    When transferring you will need:

    • Your South African ID
    • Proof of residence (not older than three months)
    • Transfer Request form

  • What you need to know

    • Invest in a fixed deposit without paying tax
    • Transfer funds into your tax free account without losing your tax free benefit
    • Investment term is 12 months only
    • Interest earned is paid on maturity
    • Your maximum prescribed annual contribution amount is R36 000.00 
    • Your maximum prescribed lifetime contribution amount is R500 000.00 
    • Over contribution will result in SARS levying a penalty fee of up to 40% 
    • Capital and interest guaranteed as per the product terms and conditions
All interest rates are expressed as a percentage per annum and are indicative
Tax Free Fixed  
R30 000 - R9 999 999 999 999.99 9.33%
Last reviewed on 30 August 2023
*Interest paid at maturity		  

Let us call you back

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