Tax Free Plan Mobile

Tax Free Savings

  • Invest from only
    R200 per month
  • Pay no tax
    on your investment
  • Take your money
    out anytime

HOW IT WORKS

 

FAQ

  • All growth in the plan is completely tax free
  • You don't pay tax on capital gains, dividends, interest or on withdrawals
  • You can choose from a range of investment funds
  • You can choose to invest a once-off lump sum, make monthly payments or a combination of both
  • You can choose how long you want to make payments into your plan
  • You can stop or start your investment from month to month
  • You can access your money at any time
  • Any natural South African with valid identification who can afford to make the payments
  • A parent or legal guardian can open a Tax Free Plan for a minor who has a South African identity

You will need to provide proof of identification and proof of residence when applying for regular investments which equal R25,000 or more per year, or lump sum investments in excess of R50,000

  • You choose the investment funds you want your money invested in
  • You can switch funds when you need to at no extra cost. You can do this by logging on to MyPortfolio or by speaking to your financial adviser
  • Funds are managed by Old Mutual, Nedgroup Investments, Coronation, Prudential and Investec
  • If you invest regular investments of less than R350 per month, your contributions will be invested into the Old Mutual Moderate Balanced Fund.
  • View full list of funds
  • You choose to deposit a lump sum, make monthly/yearly payments or both
  • You can choose to include an annual increase (inflation-related or not)
  • You choose how long you want to invest for
  • The minimum investment amount is R200 per month. There is an investment limit of R33 000 per tax year (1 March to end Feb).
  • An administration charge of 0.75% per year of your fund value will be charged. This will be deducted at the end of every month. If you do not have a regular investment set up on any of your Old Mutual Invest Plans, or if your regular investment is cancelled, the administration charge will be a minimum of R20.00 per month. The administration charge can be reduced with our Investment Maximisers.
  • Asset management fees are deducted by the fund managers of the underlying investment funds which you choose. The amount of the asset management fees will depend on the funds you choose.
  • If your regular investment is less than R350, an investment charge of 5% will apply to each regular investment.
  • Investment Maximisers allow you to reduce costs. Click here for more information.
  • You can access your funds at any time
  • You can set up regular disinvestments (payouts)
  • You will be paid within 7 business days of requesting the disinvestment

You can request to cancel the plan within 30 days of opening it by contacting us

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Please note our working hours are 08:00 to 17:00 weekdays.