Finally, you can breathe just a little from taxation. You can invest your money in peace knowing that you will not get in trouble with the taxman. With African Bank, you can now open a Tax-Free Investment Account. African Bank has proven to be a bank that truly offers market-leading rates, and they don’t claim it, it’s true.
When it comes to tax implications of investing, African Bank will not be held liable and/or advise you on that, but we will cover the subject – contact your financial adviser for advice or your tax consultant, or tweet me, however, read my disclaimer before you hold me responsible for anything.
With a Tax-free Investment Account from African Bank, you can invest from as little as R50; even so, you can still make additional deposits from R100 for the duration of the Account term.
You can invest up to R500 000 tax fee, however, you can deposit up to R33 000 per year (Making calculations – you can save up to R500 000 in a period of 15 years and 2 months)
Your interest rate will never decrease; in fact, it will increase to reap more benefits. You can choose to access a part of your capital, or all of it for 12 months.
You can add an additional Tax-Free Investment Account, every year.
HOW TO APPLY
- You need a valid ID (Identity Document)
- A minimum deposit of R500 (Should be maintained)
- Prove of Residence (That’s not older than 3 months)
- Register online or visit the nearest African Bank branch
Read more about the African Bank Tax-Free Investment
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