Why should you consider a Tax-Free Savings Account?
With a Tax-Free Savings Account there is no tax to be paid on your savings or investments which includes any interest earned, dividends received or capital gains.
Tax-Free Savings from FNB offers you:
Choice - you can choose between a Tax-Free Cash Deposit, Tax-Free Unit Trusts or a Tax-Free Shares Account, based on your saving or investment need.
Simplicity and convenience - your account will be linked to your banking profile allowing you to view balances and make contributions.
How it works
You are able to contribute a maximum of R33 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.
In accordance with regulations with effect 1 March 2018, individuals can transfer their Tax-Free Savings between financial institutions. By allowing this, an individual can move his/her Tax-Free Savings from one institution to another without triggering contributions or withdrawals.
For any transfer request (in or out) on the Tax-Free Cash Deposit, please contact 087 736 6688 or send an mail to
For any transfer out request on the Tax-Free Shares Account, please contact 087 574 2737 or send an mail to
For any transfer request (in or out) on FNB Horizon Series Tax-Free Unit Trusts, please contact 011 282 4803 or send an mail to