Tax-Free Call investment account

Invest, tax-free, up to R 36 000 a year with immediate access to your money.

^R 250

opening deposit

Anytime

Access to Funds

3.50%

earn interest up to

Compare now

Some of the benefits

Flexibility

Invest tax free up to R 36 000 a year with monthly or occasional deposits

Monthly payouts

Choose to transfer the monthly interest earned into any other account

Instant access

Get immediate access to your money without having to give notice

Tax Free Call Account interest rates

View interest earned per account balance band

Tax Free Call Account

The current interest rates (effective 24 July 2020) are:

Balance bands	Nominal interest rates
R 0 - R 249	0,00%
R 250 - R 14 999	2,80%
R 15 000 - R 32 999	2,95%
R 33 000 - R 49 999	3,10%
R 50 000 - R 99 999	3,25%
R 100 000 and above	3,50%

What you get

Save up to R36 000 per tax year and the interest earned will be tax free
The annual limit of R36 000 applies to the total amount of all your tax free investment accounts
If you contribute more than the annual limit, SARS will levy a penalty of 40% on the amount that's over the limit
Interest can be transferred to any other account
Link your bank card for access in-app, online, at ATMs or your phone
Interest calculated daily and paid monthly
Capital is guaranteed

See Tax-Free Call T&Cs
See general T&Cs

How it works

The current interest rate exemption of R 23 800 for under-65s (R 34 500 if older) still applies to interest earned on deposits outside the tax-free savings account
On average, if you save the full R 36 000 allowed every year and earn interest of around 6%, you could exceed this annual interest exemption level from around year 10 into your savings journey
You can open multiple tax-free accounts, as long as you don’t exceed the annual limit of R 36 000 across all accounts or your additional deposits will be taxed at 40%

How to guide to transfer funds into or out of Standard Bank

What it costs

No monthly fees
Cash deposit fees apply

See 2020 pricing guide
See 2021 pricing guide

How to get it

What you’ll need

ID copy (or passport if not an SA citizen)*
Proof of residence not older than 3 months

_{*If you’re a minor, you’ll need the consent of your parent or guardian}

What you get
How it works
What it costs
How to get it

Save up to R36 000 per tax year and the interest earned will be tax free
The annual limit of R36 000 applies to the total amount of all your tax free investment accounts
If you contribute more than the annual limit, SARS will levy a penalty of 40% on the amount that's over the limit
Interest can be transferred to any other account
Link your bank card for access in-app, online, at ATMs or your phone
Interest calculated daily and paid monthly
Capital is guaranteed

See Tax-Free Call T&Cs
See general T&Cs

The current interest rate exemption of R 23 800 for under-65s (R 34 500 if older) still applies to interest earned on deposits outside the tax-free savings account
On average, if you save the full R 36 000 allowed every year and earn interest of around 6%, you could exceed this annual interest exemption level from around year 10 into your savings journey
You can open multiple tax-free accounts, as long as you don’t exceed the annual limit of R 36 000 across all accounts or your additional deposits will be taxed at 40%

How to guide to transfer funds into or out of Standard Bank

No monthly fees
Cash deposit fees apply

See 2020 pricing guide
See 2021 pricing guide

What you’ll need

ID copy (or passport if not an SA citizen)*
Proof of residence not older than 3 months

_{*If you’re a minor, you’ll need the consent of your parent or guardian}

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