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@greenleaf62 I didn't know that you pay tax on interest accrued on a regular savings account.

@leona_firefly I see! Thanks so much. What is the interest rate on TFSA? I want to calculate whether the interest I earn on any other account after tax might outweigh the interest earned on TFSA. EDIT: sorry this is a stupid question, you already said that I can earn interest via stocks from...

Why would one save money to a Tax Free Savings Account (TFSA) instead of a savings account? Let's say I have R10 000 left every month after I paying income tax, rent etc. The remaining money is in my cheque account with whatever bank I'm at. I have two options: - transfer the money to my...