Old Mutual is one of South Africa’s leading financial services providers. With over 200 branches nationwide, Old Mutual provides individuals with easy access to their financial products.
The institution lets individuals choose from a range of investment funds to meet your unique investment needs.
Through the Old Mutual Tax Free Plan, individuals are provided with access to a simple and transparent savings solution. By choosing this financial solution, you have the benefit of getting your full investment return without being taxed.
Why choose the Old Mutual Tax Free Plan?
This type of account is an ideal place to store money that you don’t want to spend on monthly expenses, but that you may wish to use in the near future. A high interest savings account can also be a great place to keep and grow your emergency fund. You can store some money away that will be enough to cover at least three to six months’ worth of expenses.
You can choose how you want to invest. You can choose lump sums, regular investments or a combination of both.
You don’t have to commit to a specific investment term. You get to choose for how long you want to keep your money invested.
You can start investing from just R150 per month. If making regular investments isn’t suitable for you, you can choose to make lump sum investments instead. You can invest a lump sum of R2500 online or R5000 through a financial advisor.
You have the option of payment flexibility without any penalties, so you can access your money at any time.
As per the tax regulations in South Africa, the maximum amount you can invest per year in your Old Mutual Tax Free Plan is R30 000.
The South African Revenue Services (SARS) swill levy a tax of 40% on all contributions exceeding R30 000 per tax year.
Contact Old Mutual by calling: 0860 66 54 63 or 0860 50 60 70
Visit www.oldmutual.co.za