26/07/2022
Growfund Co Tax-Free Savings
Growfund Co offers proceeds that are tax-free. Not only is it tax-free, your capital and quoted returns are guaranteed, but Growfund Co Tax-Free Cash Deposit is also a tax-free savings account and gives you access to your money in 32 days.
and because there are no monthly fees, your savings are guaranteed to grow. You can make flexible contributions on a monthly basis or pay a once-off lump sum to invest. The Tax-Free Savings Account with Growfund Co has no age restriction, thus you can put your child’s name to the account.
You can only save up to R33 000.00 in a year as an individual according to the current legislation, and in a lifetime, you can save up to R500 000.00. There are no risks involves, your capital and quoted returns are guaranteed.
You can start your investment from R1 000.00, and for your convenience, you can manage your account online or using the Growfund Co App at the comfort of your own home.
How to Open the Tax Free Account with Growfund Co
● You must have a transactional account with Growfund Co (You can apply for one if you don’t have one)
● You can apply online
● You may also visit the Headoffice
● You can contact Growfund Co on [email protected] if you want to transfer from another financial institution.
Documents needed
You can apply online without the need to very your identity. New customers have to undergo a procedure known as “KYC – Know Your Customer” at any Growfund Co branch before opening the Tax Free Savings Account, and the following documents are needed.
● Your Valid South African Identity Document or Smart ID Card
● Proof of Residence that’s not older than 3 months (You can make use of electric bills, invoices, taxes account, etc.)
● If you have your Income Tax number issued, it will be needed.
