Individuals>Your Wealth>Tax-free Savings Plans
Tax-free savings plans
What are your goals in life – an overseas trip, a child’s education, wedding, additions to your house? Tax free savings plans are one way to build wealth so as to meet these goals. The insurance company will pay the tax on your behalf so that when the investment term ends your money is tax-free!
These investments are for the medium to long-term; this means your minimum investment term is 5 years. Your premium can be as low as R250 a month, plus you can invest additional lump sums of R10, 000.
The plans are not only tax free, they are also flexible. At the end of five years, you can take out all or some of your savings, or leave everything to continue growing. If you need the money before the 5 years is up, you can apply for an interest-free loan from the investment.
There are a range of investment funds which we will help you choose from. Contact MST to start your wealth building portfolio today.