Grow more tax-free this year with the new R46,000 limit

Looking for a smarter way to grow your money this tax year? There's no better place to start than with a Discovery Bank Tax-Free Savings Account (TFSA).

A Tax-Free Savings Account helps you maximise returns by paying zero tax on earnings, allowing your savings to grow faster - simply by choosing the right account. And with Discovery Bank, getting started is effortless.

More tax-free growth starts this year

From 1 March, the annual TFSA contribution limit increased from R36,000 to R46,000.

That means more space to grow your savings tax-free every year - and even greater long-term compounding potential. If you haven't started yet, there has never been a better time!

4 reasons a TFSA should be your first financial move this tax year...

• Grow your wealth tax-free: Earn 6.5% interest and keep every cent - just pure growth.
• Boost your savings with zero monthly fees: More of your money stays where it belongs: working for you.
• Start small, grow big: One of the biggest myths about investing is that you need a large amount of money. You don't. Begin with R1,000 and build your tax-free portfolio at your own pace. The earlier you start in the tax year, the more powerful your growth.
• Maximise your expanded tax-free allowance: Use your new R46,000 annual limit to unlock even greater long-term wealth.

3 ways to get started right now...

• Open a new Tax Free Demand Savings Account (Accounts > Add Account).
• Add money to your existing Tax-Free Demand Savings Account.
• Transfer tax-free savings balances from another provider - call 0800 07 96 97 and we'll handle the details.

2 SARS rules to remember...

• Each tax year, you can contribute up to R46,000 towards your TFSA, with a lifetime limit of R500,000.
• Unused annual limits do not roll over. If you miss this year's allowance, you lose it permanently.

1 way to ensure you don't miss a year of tax-free growth!

Many people plan to open a TFSA "someday," but the truth is that every year without one means:

• losing a year of tax-free growth
• missing out on compounding returns
• paying tax on growth elsewhere

Starting now gives your savings a head start that becomes more valuable every year.

One smart move for the new tax year

Here's the takeaway: you don't need to change everything about your finances to make progress. You just need to take one smart step. Open your Discovery Bank Tax-free Savings Account today and turn this new tax year into the beginning of long-term, tax-free wealth.

Because the best time to start was last tax year - but the next best time is today!

Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Please consult a financial adviser for personalised guidance. Interest rates shown as at 29 January 2026. Always see the Discovery Bank app for latest rates. Limits, terms and conditions apply.