Read about the Tax-Free Demand Savings account

If you’re looking for a savings solution that grows your money while shielding your returns from tax, the Discovery Bank Tax-Free Demand Savings Account might be your ideal match.

Tax-Free Demand Savings

Last updated: May 28, 2025

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Interest Rate

Earn 7.25% interest on your savings.

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Access to funds

Immediate access to your money.

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Opening Deposit

Minimum balance of R1,000.

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Monthly Fees

No monthly fee.

Tax Implications

• You can contribute up to R36,000 per tax year, with a lifetime cap of R500,000 across all tax-free investment accounts.
• All interest earned in this account is exempt from income tax.

Read about the Tax-Free Demand Savings account

If you’re looking for a savings solution that grows your money while shielding your returns from tax, the Discovery Bank Tax-Free Demand Savings Account might be your ideal match.

Read about the Tax-Free Demand Savings account

Tax-Free Demand Savings

Interest Rate

Access to funds

Opening Deposit

Monthly Fees

Tax Implications

Read about the Tax-Free Demand Savings account

What you need to apply

Savings Calculator

What you need to apply