You can save up to R36,000 per year in a Capitec Tax-free Savings Account. Any amount over R36,000 will be taxed.

The Capitec Tax-free Savings Account offers tiered interest rates that depend on the balance amount in the account. Interest rates start at 3.50% for balances of R0 to R24,999 and increase to 6.25% for balances of R150,000 or more. This system means that account holders can earn more interest on their savings as their balance increases. However, it’s important to note that interest rates are subject to change and affected by various factors such as economic conditions and decisions made by the Reserve Bank. The tiered interest rate system provides a great opportunity for individuals to save and earn more on their savings over time.

No, there are no monthly account fees or minimum balance requirements associated with a Capitec Tax-free Savings Account.

Yes, you can withdraw money from your Capitec Tax-free Savings Account at any time. However, keep in mind that if you withdraw more than R36,000 in a year, you will not be eligible for tax-free interest on the excess amount.