Take advantage of the investment plan from Capitec where your investments are tax-free. True, although there are terms and conditions which are in compliance with SARS terms. With the Tax-Free investment account, you can save up to R33 000 per tax year, as a single deposit (Lump Sum) or in multiple deposits, it’s up to you.
You can earn interest from R1 and can go as high as it can but not lower. Your lifetime savings limit is R500 000, if you go above, you will be taxed 40%.
And yes, your interest will not be taxed. You will be charged R300 if you want to unlock your account for withdrawal or use of the account.
Rates and fees
Read more on Capitec Tax-Free Savings Account. Remember that investments are worth it, and you can secure your future and or money need for rainy days. Don’t procrastinate when it comes to saving money.
You might even have the entrepreneurial characteristics to start a business with your saved money for the family’s legacy. Saving money is the only best decision when it comes to your personal finances.
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