What is a Tax Free Savings Account?
The Old Mutual Tax Free Savings Account (TFSA) helps you grow your money without paying tax on the growth of your investment (capital gains), the interest or the dividends.
What's in it for you?
- Reach your financial goals, tax free (you'll pay no tax on the growth of your investment, interest or dividends)
- Start with as little as R500/month or R3 800/month
- Invest a maximum of R46 000 per tax year and R500 000 over your lifetime
- Easy access to your money when you need it
- Old Mutual has over 180 years of experience managing money
- The longer you save, the more opportunity your money has to grow. An investment of R1 000 per month could grow to R74 000 in just 5 years or R185 000 in 10*.
*Based on an investment in the Old Mutual Balanced Fund B1, with an interest rate assumption of 8.4% (p.a.), interest compounded, and investment fees excluded.
- Proof of identification (a valid SA ID or passport)
- Proof of residence
- Bank account details
- A birth certificate if you are applying for a minor
Tax Free Savings Account
After all, no one else has over 180 years of experience managing money.
