First National Bank (FNB) is not only one of the oldest banks in South Africa but also one of the biggest. Established in 1838, FNB operates as a division of First Rand Limited, which is a large financial services conglomerate and trades on the Johannesburg Securities Exchange. With a business footprint that stretches beyond the borders of South Africa and total assets valued at US$90.3+ billion, FNB is a banking authority that distinguishes itself with excellent products and services. One product living up to this set standard is the FNB tax free savings account.
The FNB tax free savings account allows clients to save and invest up to R30,000 per tax year knowing that the interest, capital gains and dividends earned are completely tax free. Based on your short or long term need, the FNB TaX Free Savings Account enables you to save with the Tax Free Cash Deposit and invest with the Tax Free Shares Account.
Tax Free Cash Deposit is ideal for short to medium term savings.This option gives you access in an emergency and guarantees customers capital.You also pay no monthly fees and you earn a great interest rate.The Tax Free Shares Account is ideal for long term investment.The Tax Free Shares Account gives you exposure to the top 100 companies on the JSE. You can also invest from R300 per month in shares FNB chooses for you.
To access this account, FNB can be contacted on 0860327827.