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Tax-Free Savings Account

Automate Your Future

Debit Orders Are Now Available for Your TFSA

Woman smiling at her phone with a Debit Order notification, setting up automatic TFSA contributions on Kastelo

Saving money is easy when you remember to do it. Growing your money long-term is easier when you don't have to think about it at all.

That's why we're excited to announce a new feature for your Kastelo TFSA: monthly debit orders are now live.

Until now, TFSA contributions on Kastelo could only be made manually from your Wallet balance. While that gave customers flexibility and control, we know consistency is what truly helps people grow their money over time.

With debit orders, you can now automate your monthly TFSA contributions directly from your bank account, helping you stay disciplined, consistent, and invested in your future.

One of the biggest challenges with saving is simply remembering to do it every month. Automated saving removes that friction and helps turn investing into a habit instead of a once-off decision. Financial institutions and investment platforms often recommend automated contributions because they make saving more consistent and effortless over time.

The truth is: small amounts invested consistently can become something meaningful over the long term.

Whether you're saving for your future, your child's education, a home deposit, financial freedom, or simply a stronger safety net, automating your TFSA contributions can help you stay on track.

Why Debit Orders Can Help You Save Better

Consistency Beats Perfection

You don't need a massive lump sum to start investing. Regular monthly contributions can help you build momentum and create a long-term savings habit.

Save Before You Spend

By scheduling your debit order close to payday, your savings happen automatically before everyday spending gets in the way.

Less Admin, More Progress

No more manually transferring money every month from your Wallet into your TFSA. Once your debit order is set up, your savings continue automatically in the background.

Grow Your Money Without Thinking About It

The best financial systems are often the ones that run quietly in the background. Automation removes emotion, procrastination, and inconsistency from the process.

You're Still In Control

Your TFSA remains flexible. You can adjust your contribution amount, pause your debit order, increase contributions over time, or make additional once-off deposits whenever you want.

The goal is not perfection — it's consistency.

Start Small. Start Now

Many people delay investing because they think they need large amounts of money to begin. But long-term investing is often more about time and consistency than timing the market perfectly.

Even a smaller monthly contribution can make a meaningful difference over time when combined with disciplined saving and compounding growth. The important part is getting started.

Ready to Automate Your Savings?

You can now set up your monthly TFSA debit order directly in the Kastelo app and make your future savings automatic.

Your future self will thank you

Set up a debit order

FAQs

Got questions? Our FAQs guide you through Kastelo's products, features, and how to get the most from them.

View all FAQ
Who can open a TFSA?

Any South African adult resident can open a TFSA.

What are the advantages of a TFSA?
  • Grow your savings without any taxation.
  • Enjoy unrestricted access to your money.
  • Choose from different funds to suit your investment goals.
Grow your savings without any taxation. Enjoy unrestricted access to your money. Choose from different funds to suit your investment goals.
What are the conditions for opening my TFSA?
  • Only individual South Africans with tax numbers are eligible.
  • A regular income cannot be paid out – interest and dividends earned are automatically reinvested.
  • No protection against creditor claims.
  • A maximum of R46,000 per annum and R500,000 over your lifetime can be contributed.
Only individual South Africans with tax numbers are eligible. A regular income cannot be paid out – interest and dividends earned are automatically reinvested. No protection against creditor claims. A maximum of R46,000 per annum and R500,000 over your lifetime can be contributed.
Can I make withdrawals from my TFSA whenever I want?

You can withdraw at anytime but usually the longer you invest, the better the returns. Withdrawals will be processed within 5 - 7 business days of receipt of withdrawal instruction.

All amounts you invest will count towards your annual and lifetime limits regardless of any withdrawals you make. In other words, if you invest R46,000 this tax year and then withdraw some or all of your savings, any further investment during the tax year will be taxed at 40%.

You can withdraw at anytime but usually the longer you invest, the better the returns. Withdrawals will be processed within 5 - 7 business days of receipt of withdrawal instruction. All amounts you invest will count towards your annual and lifetime limits regardless of any withdrawals you make. In other words, if you invest R46,000 this tax year and then withdraw some or all of your savings, any further investment during the tax year will be taxed at 40%.
Are there any fees?
  • Sygnia Annual Admin Fee: 0.35% (excl. VAT)
  • Sygnia Annual Fund Management Fee: Up to 0.59% (fund dependent)
  • Kastelo Initial Fee: 0.5% (excl. VAT)
  • Kastelo Annual Fee: 0.5% (excl. VAT)
Sygnia Annual Admin Fee: 0.35% (excl. VAT). Sygnia Annual Fund Management Fee: Up to 0.59% (fund dependent). Kastelo Initial Fee: 0.5% (excl. VAT). Kastelo Annual Fee: 0.5% (excl. VAT).
Tell me about the tax benefits

Save without paying taxes on any of the growth or income you earn. In addition, you are not taxed on withdrawal or termination of the account.

However, any contributions made to tax-free savings accounts over and above the maximum contribution limits will attract tax at a rate of 40%.

Profits, earnings and withdrawals from your TFSA are not deducted from nor do they contribute to your Annual Investment Limit or your Lifetime Investment Limit.

Save without paying taxes on any of the growth or income you earn. In addition, you are not taxed on withdrawal or termination of the account. However, any contributions made to tax-free savings accounts over and above the maximum contribution limits will attract tax at a rate of 40%. Profits, earnings and withdrawals from your TFSA are not deducted from nor do they contribute to your Annual Investment Limit or your Lifetime Investment Limit.