A little goes a long way.
The TruSave Account is one of the simplest ways to start building your savings. Whether you’re putting money aside for an emergency, a school trip, or just building better habits, this account gives you flexibility, easy access, and great value — no frills, no stress.
What the Account Is For
This account is perfect if you’re new to saving and want an account that’s easy to manage with zero monthly fees. It’s also great if you want full control — deposit what you can, when you can.
Use it for:
- Saving up for small goals like school uniforms, groceries, or a birthday
- Parking your extra cash in a safe, interest-earning account
How the Account Works
- You can open it with just R50
- Deposit any amount, any time — or set a monthly debit order for R250 or more
- You earn interest on balances from R50 and up
- Access your funds anytime using your Absa app, Online Banking or ATMs
Every month, you’ll also get:
- 2 free ATM withdrawals or balance checks
- Free deposits of up to R2000/month into the account — no transaction fees
Pros and Cons
| 👍 Pros | 👎 Cons |
| No monthly management fee | No interest on balances below R50 |
| Instant access to your money | Some transactions not allowed (e.g. debit orders) |
| Digital bonus interest up to 1.90% | Must use digital channels to get full rate |
| Low minimum to start (R50) | Account may close if balance stays at R0 for 6+ months |
Who Should Consider This Account
This account works well for:
- Anyone who wants a simple savings account with no monthly fee
- People who prefer to do their banking online or via an app
- Savers who want to build a habit without being locked in
If you’re not ready to commit to a fixed deposit or don’t want waiting periods to access your money, this is a flexible option.
Interest Structure
- Standard Rate: 4.45%
- Digital Bonus: 1.90%
- Total Possible Rate: 6.35% per year
To earn the bonus, you must open and manage your account online or via the Absa app. (For the most accurate and up-to-date interest rates, please visit absa.co.za)
Tax Implications
Interest is taxable if your total annual interest earnings across all accounts go above:
- R23 800/year (under age 65)
- Anything earned above that gets taxed at your income tax rate
If you earn less than R23 800 in interest for the year, you won’t pay tax on it.
How to Apply
| Group | Documents Needed |
| SA Citizens | SA ID + proof of residence (under 3 months old) |
| Foreign Nationals | Valid passport, proof of residence, and work/residence permit |
You can apply:
- On the Absa Banking App
- Through Absa Online
- By calling 0860 111 515
- Or by visiting your nearest Absa branch
Buti’s Takeaway
TruSave is a great starting point. It’s low-risk, flexible, and earns solid interest — especially if you use the app or online banking.
If you want full access to your money while still earning, this account is worth it.
Ready to start saving? Head to the Absa app or your nearest branch and open your TruSave account today.