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Read about the Tax-Free Savings account

In a country where every cent counts, the Absa Tax-Free Savings Account offers a powerful incentive for South Africans to save smartly. With an attractive interest rate of up to 8.15%, this account allows you to grow your wealth without the usual tax burden that eats into your returns.

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Tax-Free Savings

Last updated: May 28, 2025
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Interest rate

Earn up to 8.15% interest, completely tax-free.

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Access to funds

Instant access, save or withdraw anytime.

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Opening Deposit

Minimum opening deposit: R1,000.

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Monthly Fees

No monthly management fees.

Tax Implications

• Contributions are limited to R36,000 per tax year and R500,000 over your lifetime.
• Interest, dividends, and capital gains earned in the account are tax-free.

Read More

Read about the Tax-Free Savings account

In a country where every cent counts, the Absa Tax-Free Savings Account offers a powerful incentive for South Africans to save smartly. With an attractive interest rate of up to 8.15%, this account allows you to grow your wealth without the usual tax burden that eats into your returns.

Read More

What you need to apply

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South African Citizens

  1. Opening deposit of R1,000
  2. Your South African ID
  3. Proof of residence
    (not older than three months)
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Non-South African Citizens

  1. Opening deposit of R1,000
  2. Valid Passport
  3. Proof of residence
    (not older than three months)
  4. Work/Resident permit
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Ways to apply

You can apply now on Buti.co.za, or alternatively, visit the bank’s website to apply through their platforms.

Savings Calculator



Interest Earned: R0.00

Total Savings: R0.00

What you need to apply

badge

South African Citizens

  1. Opening deposit of R1,000
  2. Your South African ID
  3. Proof of residence
    (not older than three months)
public

Non-South African Citizens

  1. Opening deposit of R1,000
  2. Valid Passport
  3. Proof of residence
    (not older than three months)
  4. Work/Resident permit
how_to_reg

Ways to apply

You can apply now on Buti.co.za, or alternatively, visit the bank’s website to apply through their platforms.