With a tax-free account you are able to contribute a maximum of R36 000 per tax year, and a maximum of R500 000 during your lifetime completely tax free.
These limits are governed by legislation and may change. Should you exceed these limits, you will be penalised 40% on contributions above the limits by the South African Revenue Service (SARS). It is your responsibility to monitor and ensure that you do not contribute more than the prescribed limits.
You can now move your Tax-Free Savings from other Institutions to FNB Tax-Free Cash or FNB Horizon Series Tax-Free Unit Trusts as of 1 March 2018. A qualifying FNB transactional account is needed to open the FNB Tax-Free Savings Account.
You don't need to be an expert. We have solutions tailored to your stage of life and investment.
Plan for your financial future with our goal-based financial planning approach.
Email:
financial_advisory@fnb.co.za
Call FNB advice suite:
087 736 8941
