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Sanlam Tax-Free Savings Account

Sanlam Tax Free Savings account
Investment Account – Tax-Free Savings account, image: pxhere.com

The only reason why we invest our monies is so we can reach our financial goals – you might want to purchase a dream car, a dream home, or reaching your tuition fee goals in a long run. You are headed towards a brighter future when you take a stand to save your money.

Sanlam offers a Tax-Free Savings Account, which you can save money from only R350 per month, you are on the road to save for long term goals with the Sanlam Tax-free investment account. As it states “Tax-Free”, you will not pay any tax even when your account matures. Your earned interest will be received as it is.

You will not pay for dividends or the money gained provided that your savings account complies with the SARS regulations.

The Sanlam Tax-Free Investment Account offers you the ability to withdraw cash when you need it. You don’t have to wait for the maturity date. In order for you to not be taxed, you have to save up to a maximum of R33 000 per year. You can’t go above the SARS-Compliant maximum lifetime savings amount of R500 000.

You can save up to R500 000 in a period of almost 17 years (Precisely 16 years and 8 months), by saving R2500 a month – or you can save R2750 per month to reach R33 000 maximum savings in a year, in 15 years and 2 months you shall have saved R500 000 provided that, in the last final month – you’ll deposit only R2300, as R2750 will surpass the limit.

For more information visit The Sanlam Tax-Free Savings Account Page, Alternatively, you can contact them or visit the nearest branch. Sanlam Life Insurance Limited is a Licensed Financial Services Provider and a Registered Credit Provider.

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