Nedbank Tax-free Savings Account Review for October 2026
Introduction
The Nedbank Tax-free Savings Account is a savings account offered by Nedbank. Unlike notice or fixed deposits, savings accounts allow quick and easy access to your money.
This page summarises interest rates offered by Nedbank Tax-free Savings Account and compares them to South Africa's savings account industry average. So you can get a good idea how the interest rates offered by Nedbank Tax-free Savings Account compare to other banks.
Save your money and enjoy the proceeds tax-free. No strings attached, no pain, all gains.
Nedbank Tax-free Savings Account highlights
last updated 2nd October 2026 by Walter
- The Nedbank JustSave offers interest rates 6.25% and accepts investments from R1
- The Nedbank Platinum Invest offers interest rates 7.25% and accepts investments from R1
- The Nedbank MoneyTrader offers interest rates 7.20% and accepts investments from R50,000
Nedbank Tax-free Savings Account
This table shows Nedbank Tax-free Savings Account's interest rates for a R10,000, R20,000, R100,000, R1,000,000 and R5,000,000 investment in Nedbank Tax-free Savings Account versus the industry average.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 | 6.25% #7 out of 24 | 4.94% | + R 131 |
| R20,000 | 6.25% #7 out of 25 | 4.97% | + R 257 |
| R100,000 | 7.00% #10 out of 31 | 5.62% | + R 1,384 |
| R1,000,000 | 7.25% #6 out of 28 | 5.56% | + R 16,914 |
| R5,000,000 | 7.25% #6 out of 28 | 5.59% | + R 83,054 |
- 1 industry average refers to the average interest rate across all other savings accounts for the given investment amount
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average savings account in South africa will give you more than Nedbank Tax-free Savings Account.
| Investment amount | Nominal | Industry average1 | Earnings vs average2 |
|---|---|---|---|
| R10,000 for 0+ | 6.25% | 4.94% | + 131 |
| R20,000 for 0+ | 6.25% | 4.97% | + 257 |
| R100,000 for 0+ | 7.00% | 5.62% | + 1,384 |
| R1,000,000 for 0+ | 7.25% | 5.56% | + 16,914 |
| R5,000,000 for 0+ | 7.25% | 5.59% | + 83,054 |
- 1 industry average refers to the average interest rate across all other banks
- 2 the amount of interest you will be able earn over and above the average.
A negative amount means that the average savings account in South africa will give you more than Nedbank Tax-free Savings Account.
You get a 7.25% interest rate at Nedbank Tax-free Savings Account for a R5,000,000 investment. The industry average for a savings account with a balance of R5,000,000 is 5.59%. Over one year you will earn R83,054 more in interest at Nedbank Tax-free Savings Account compared to the average savings account.
Here are other similar savings accounts in South Africa which require a minimum deposit between R0 - R100,000
| Account | Min Deposit | Rate |
|---|---|---|
| Absa Cash Invest Tracker | R100,000 | 7.75% |
| Absa Tax Free Savings Account | R1 | 7.90% |
| BankZero Savings | R1 | 6.50% |
| Bidvest Bank Call Account | R1,000 | 6.65% |
| Discovery Tax-Free Demand Savings Account | R1 | 7.00% |
| FNB Savings Account | R1 | 6.50% |
| FNB Money Maximiser | R100,000 | 7.50% |
| FNB Tax-free Savings | R300 | 7.45% |
| Investec PrimeSaver Account | R100,000 | 7.05% |
| Investec Call Deposits | R100,000 | 6.65% |
| Nedbank Platinum Invest | R1 | 7.25% |
| Nedbank MoneyTrader | R50,000 | 7.20% |
| Standard Bank SaveUp | R0 | 6.80% |
| Standard Bank Tax-Free Call | R250 | 7.03% |
| Standard Bank MoneyMarket Select | R100,000 | 7.45% |
| GoTyme Bank GoalSave Bonus Rate (10-Day Notice) | R1 | 10.00% |