About Tax-Free Call investment account

How to qualify

  • You can invest R 250 or more
  • You are a South African citizen
  • You have a valid passport or permit

Minors may open the investment account with a parent’s or guardian’s consent.
Terms and conditions

Features and benefits

  • Earn tax-free interest on your investment
  • Gain higher interest for a higher balance
  • Re-invest your gains, or have your interest paid out monthly
  • Access your deposited funds at any time
  • Add funds when and how you like, such as by once-off deposit and stop order
  • Tax-Free Call Account interest rates
How to apply
What you'll need
  • Your ID book
  • Proof of home address
  • Valid passport and work / study permit (for non-SA citizens)
Frequently asked questions

What happens to the current interest rate exemption?

The current interest exemption of R 23 800 for individuals below 65 years and R 34 500 for over-65s still applies to interest earned on deposits outside the tax-free savings account. Any interest you earn on deposits and investments within a tax-free savings account is tax free.

Can I make tax-free deposits with other banks, each with deposits of R 30 000 each year?

No. R 30 000 is the total limit per individual, per year -- across all accounts at all financial institutions. If you deposit R 30 000 into a Tax-Free Call Account at Standard Bank, you won’t be able to make more deposits into any other tax-free savings account at Standard Bank held in your name, or into any other account at another financial institution. If you exceed the R 30 000 limit, the additional deposits above that amount will be taxed at 40%.

Is R 500 000 the maximum balance for all my tax-free accounts?

Not exactly. Your capital contributions may not exceed R 500 000. This means that you can deposit R 30 000 per tax year, or R 500 000 over 16 years. However, all the accumulated interest over R 500 000 can stay in your tax-free account to accrue even more interest and dividends.

Can I withdraw my money from my Tax-Free Call Account at any time?

Yes. However, the amount you withdraw is still part of the R 30 000 contribution limit. For example: If you invest the annual maximum of R 30 000 and decide to make a withdrawal after six months, you won’t be able to deposit more money into your tax-free account for the rest of the year. You would need to wait until the following year to make another deposit.

Will my existing investment account automatically qualify as a tax-free investment?

No. If you want your current investments to qualify, you will first have to move those funds into a tax-free savings account.

Can I open a tax-free account for a minor?

Yes. However, all deposits must remain in the minor's name and contributions to the tax-free account are considered part of the minor’s R 500 000 limit.
Apply for a Tax Free Call Investment Account

Apply online

Want to do this quickly? If you have a Standard Bank cheque, debit or credit card, you can apply for Tax Free Call account via Internet banking.


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