32016 TESA Infographic_printable

Transcription

32016 TESA Infographic_printable
Mercantile Bank’s Tax
Exempt Savings Account,
TESA, is an excellent tool
for contributing to financial
freedom. It lets you save up to
R30 000
every year tax-free with
a lifetime total maximum
contribution of
R500 000.
Because the interest earned is tax-free
and interest is compounded (there’s
interest on your interest), you can amass
abundant wealth over a lifetime.
Alternatively, you can use TESA to save
for large expenses at different points in
your lifetime such as tertiary education,
buying a house or starting a business.
TO SEE HOW IT WORKS,
LET’S LOOK AT THE GROWTH
IN SAVINGS OVER TESA’S LIFE.
O YRS
NEWBORN
R30 000
MEET TESA, A
BEAUTIFUL NEWBORN
BABY. TESA’S PARENTS
INVEST A SUM OF
R30 000 EVERY YEAR ON
HER BIRTHDAY.
17 YRS
GOING FROM
STRENGTH
TO STRENGTH
R946 026
BY 17, SHE’S ALREADY
REACHED THE
NATIONAL TREASURY
CAP OF R500 000.
HER PARENTS CAN
JUST LEAVE THE
MONEY IN THE
ACCOUNT AND WATCH
IT GROW OR TESA
COULD USE IT TO
COVER HER TERTIARY
EDUCATION.
4 YRS
GROWING
SO FAST
R173 312
BY THE TIME SHE’S
FOUR YEARS OLD,
HER SAVINGS
ACCOUNT HAS
ALREADY GROWN
SUBSTANTIALLY
THANKS TO TAX-FREE
INTEREST.
21 YRS
COMING
OF AGE
R1 250 935
AT 21, TESA IS A
MILLIONAIRE! SHE
COULD BUY HER
FIRST CAR.
30 YRS
SETTLING
DOWN
40 YRS
LIFE BEGINS
R2 345 365
BY 30, TESA COULD
HAVE ENOUGH FUNDS
TO BUY A HOUSE FOR
HER FAMILY.
R4 715 180
FOR
SALE
WITH HER HEALTHY
BANK BALANCE, TESA
WON’T SUFFER A
MID-LIFE FINANCIAL
CRISIS WHEN SHE
HITS 40.
60 YRS
GETTING ON
BUT GETTING
RICH
65 YRS
GOLDEN
YEARS
R19 061 491
BY 60, TESA MAY HAVE
SOME WRINKLES BUT
SHE’S SITTING
PRETTY ON A
SIZEABLE NEST EGG.
SHE IS SPOILING THE
GRANDCHILDREN
ROTTEN.
R27 032 339
TESA’S GOLDEN YEARS
ARE LOOKING GREAT.
NOW SHE’S TRULY
REAPING THE REWARDS
OF COMPOUND INTEREST:
IN JUST FIVE YEARS HER
SAVINGS HAVE GROWN
BY 7 MILLION RAND MORE THAN 40%. SHE
COULD GO ON A CRUISE
SHIP HOLIDAY.
Mercantile Bank Limited. Reg. No: 1965/006706/06 An Authorised Financial Services and Credit Provider. NCRCP19
Terms and Conditions
• Maximum annual investment restricted to R30 000.
• Lifetime investment restricted to R500 000.
• Interest earned is tax free on contributions of accumulated growth.
• Interest is calculated on the daily balance, capitalised monthly and may be paid out to
the investor.
• The returns illustrated are only achievable if no withdrawals are made throughout his
or her lifetime.
• Funds are available after a 7-day notice period and deposits may be made at any time.
• Withdrawal penalty of R300 is applicable if notice given is shorter than the required 7
days notice period.
*Rates are subject to change
• Any withdrawals of accumulated savings from your Tax Exempt Savings Account
cannot be replaced and all contributions are subject to the annual and lifetime limits.
• These calculations are based on an indicative interest rate of 7% and are for illustrative
purposes only. Variable interest rate will be confirmed at time of investing.
• This graphic is for illustrative purposes only.
• Accounts may be opened in a minor’s name, accompanied by a guardian/parent.
• The deposits may be made in a lump sum of R30 000 or several smaller deposits
– not exceeding the regulated limit of R30 000 per annum.
• Current interest rates: R0 - R9 999 - 5.5%*, R10 000 - R19 999 - 6%*,
R20 000 - R30 000 7%*
www.mercantile.co.za +27 86 030 9250