Guides South Africa
Financial Guides for South Africans
Understand banking, business finance, retirement, investing, insurance and everyday money decisions with practical guides written for South Africa.
- Banking
- Borrowing
- Saving
- Financial education
- Investing
- Trading
- Retirement
- Insurance
- Medical aid
- Business finance
- Glossary
48 guides
Banking
How banking works in South Africa
A bank takes deposits and makes payments. A brand, a payments app and a registered bank are not always the same firm. Reviewed 29 October 2026.
Read guideEFTs, debit orders and PayShap
An EFT is a payment you send. A debit order is a pull you authorised. PayShap is an instant payment rail. They fail in different ways. Reviewed 29 October 2026.
Read guideOpening a bank account, FICA and switching banks
A bank must identify you before it opens an account. Switching is mostly a list of debit orders, not a single form that moves your whole life. Reviewed 29 October 2026.
Read guide
Borrowing
Comparing personal loan costs
The interest rate is one line. Initiation fees, monthly service fees and the term decide the rand you pay back. Reviewed 28 October 2026.
Read guideChoosing a credit card
Choose a card you will pay in full. The rewards are a footnote. The cash-advance rate is a warning. Reviewed 28 October 2026.
Read guideHow personal loans work in South Africa
A personal loan is a contract to repay a fixed amount, plus interest and fees, usually by debit order. It is not a limit you can redraw. Reviewed 29 October 2026.
Read guideSecured and unsecured credit
Unsecured credit is repaid from your income. Secured credit also gives the lender a claim on an asset if you do not pay. Reviewed 29 October 2026.
Read guideThe total cost of credit
Interest, initiation fees, monthly service fees and the term together decide what you repay. A lower instalment can cost more. Reviewed 29 October 2026.
Read guideCredit reports and scores in South Africa
A credit bureau keeps a record of your agreements. A score is that bureau's model. It is not a single national number. Reviewed 29 October 2026.
Read guideDebt review and debt counselling
Debt review is a statutory process for over-indebted consumers. It is not a consolidation loan and it is not free. Reviewed 29 October 2026.
Read guideHow home loans and bonds work
A home loan is repaid over a long term. The bond is the security registered over the property. The bank's yes is not this page's yes. Reviewed 29 October 2026.
Read guideTransfer duty and bond registration costs
Transfer duty is a tax on property that is not subject to VAT. Legal and registration costs are quotes, not a single national tariff published here. Reviewed 29 October 2026.
Read guideVehicle finance and balloon payments
A balloon, or residual, is an amount you still owe at the end. It lowers the instalment and raises the risk that the car is worth less than the debt. Reviewed 29 October 2026.
Read guideIllegal lenders and credit scams
A lender who wants your card PIN, an upfront fee, or your SASSA card is not offering ordinary credit. Stop. Reviewed 29 October 2026.
Read guide
Saving
Understanding tax-free savings accounts
The return inside a tax-free investment is not taxed. The contributions are capped, and a withdrawal does not give the cap back. Reviewed 28 October 2026.
Read guideHow savings accounts work in South Africa
A savings account is a bank deposit. The rate, the notice period and the fees decide whether the balance grows. Reviewed 29 October 2026.
Read guideBuilding an emergency fund
An emergency fund is cash you can reach when income stops or a bill cannot wait. There is no single number of months that suits every household. Reviewed 29 October 2026.
Read guideFixed deposits and notice accounts
A fixed deposit runs to a date. A notice account needs notice before you withdraw. Both can pay more than a call account because the bank has the money for longer. Reviewed 29 October 2026.
Read guideInflation, fees and tax on savings interest
A savings balance can grow in rand and still buy less. Interest above the exemption can be taxed. Fees come off first. Reviewed 29 October 2026.
Read guide
Financial education
Personal finance basics
A budget is a list of what comes in and what must go out. No percentage of income is the right answer for every household. Reviewed 29 October 2026.
Read guideScams, advisers and your rights
A guaranteed return, a request for your OTP, and an adviser who will not say whether they are licensed are three reasons to stop. Reviewed 29 October 2026.
Read guide
Investing
How to start investing
Pay the expensive debt, keep an emergency fund, then use a low-cost fund you understand. A platform is not the investment. Reviewed 28 October 2026.
Read guideSaving and investing
Saving is keeping rand you expect to get back from a bank. Investing is buying assets that can fall. Reviewed 29 October 2026.
Read guideETFs and unit trusts
Both can hold a basket of shares or bonds. An ETF trades on an exchange. A unit trust is bought from the manager at a dealing price. Neither is a bank deposit. Reviewed 29 October 2026.
Read guideDividends and capital gains tax
Dividends withholding tax and capital gains tax are different. A tax-free investment can change both. A trading profit may not be a capital gain at all. Reviewed 29 October 2026.
Read guideRetirement annuities and the two-pot system
A retirement annuity can reduce taxable income within limits. The money is locked up on purpose. A two-pot withdrawal is not a savings account. Reviewed 29 October 2026.
Read guideOffshore investing and the rand
Moving money offshore needs an authorised dealer and the exchange-control allowance that applies to you. This guide does not print a rand allowance. Reviewed 29 October 2026.
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Trading
Trading and long-term investing
Investing is owning assets you can hold for years. Trading is buying and selling more often, often with leverage. They are not the same risk. Reviewed 29 October 2026.
Read guideShare trading costs on the JSE
Commission is one line. The spread, statutory charges and custody sit beside it. A market order and a limit order do different jobs. Reviewed 29 October 2026.
Read guideLeverage, CFDs and forex
Margin lets you control a larger position than your deposit. It also lets a small move wipe the deposit out. A margin call is a demand for more money, not a suggestion. Reviewed 29 October 2026.
Read guideCryptocurrency in South Africa
A crypto asset can fall to nothing. The exchange can fail. A private key that is lost is usually unrecoverable. Deposit insurance does not cover it. Reviewed 29 October 2026.
Read guideTrading scams and misleading claims
A guaranteed return, a WhatsApp group and a request for remote access are not a brokerage. Check the firm on the regulator's own site. Reviewed 29 October 2026.
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Retirement
Retirement planning in South Africa
A pension fund, a provident fund, a retirement annuity and a preservation fund are all retirement money. They are not an emergency fund, and a two-pot withdrawal is not a salary. Reviewed 29 October 2026.
Read guideThe two-pot retirement system
From 1 September 2024, new contributions split into a savings component and a retirement component. Older rights can sit in a vested component. A withdrawal from the savings component is taxed. Reviewed 29 October 2026.
Read guideLiving annuities and guaranteed annuities
A living annuity keeps your capital invested and pays a drawdown you choose, inside the rules. A guaranteed annuity pays an income the insurer promises and usually takes the capital. Reviewed 29 October 2026.
Read guide
Insurance
How funeral cover works in South Africa
Funeral cover pays a cash benefit when a covered person dies, usually after a waiting period. It is not a savings plan and it is not a bond settler. Reviewed 28 October 2026.
Read guideHow insurance works in South Africa
You pay a premium. The insurer pays a defined claim if the event is covered and you met the conditions. The schedule is the product. Reviewed 29 October 2026.
Read guideCar insurance and home insurance
Comprehensive car cover and third-party cover do different jobs. Buildings insurance and home contents insurance do too. Underinsurance cuts the claim. Reviewed 29 October 2026.
Read guideLife cover, disability cover and credit life
Life cover pays a lump sum if you die. Income protection pays a portion of income if you cannot work. Credit life settles a specific debt. They are not interchangeable. Reviewed 29 October 2026.
Read guideHow to verify an insurer or intermediary
The company that advertises the policy, the insurer that underwrites it, and the adviser who sells it can be three different firms. Check the one you are dealing with. Reviewed 29 October 2026.
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Medical aid
How medical aid works in South Africa
A medical scheme, a gap policy and a health-insurance policy are not the same product. The scheme is the one registered with the Council for Medical Schemes. Reviewed 28 October 2026.
Read guideMedical aid, gap cover and health insurance
A medical scheme, a gap policy and a health-insurance policy are three products. A lower premium does not make them equivalent. Reviewed 29 October 2026.
Read guidePrescribed minimum benefits
Schemes must cover a defined set of emergencies, chronic conditions and hospital care. That is not a promise of any hospital or any specialist rate. Reviewed 29 October 2026.
Read guideWaiting periods, late-joiner penalties and switching
A scheme can apply a general waiting period and a condition-specific waiting period. A late-joiner penalty can last. Do not cancel the old membership until you know the new one has accepted you. Reviewed 29 October 2026.
Read guideMedical scheme fees tax credits
A medical scheme contribution can qualify for a monthly tax credit. A health-insurance premium is not automatically the same contribution. Reviewed 29 October 2026.
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Business finance
Business finance for South African firms
A loan, an overdraft, an invoice facility and a grant are different contracts. A loan to a company is not automatically a consumer loan under the National Credit Act. Reviewed 29 October 2026.
Read guideInvoice finance, asset finance and merchant advances
Invoice finance waits on your customer. Asset finance buys equipment. A merchant cash advance takes a share of card sales. None of them is a personal loan with a new name. Reviewed 29 October 2026.
Read guideBusiness payments, VAT and payroll
A payment gateway, a card machine and accounting software do not make the firm compliant. PAYE, UIF, the skills development levy and VAT have their own rules. Reviewed 29 October 2026.
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Glossary
Searchable definitions for banking, credit, tax, retirement, insurance and business finance. Short entries stay on the index. Longer notes have their own page.
Calculators that sit beside the guides
How these guides are written
Guides are general information for South African readers. They are not personal advice under the FAIS Act, not a credit quotation, and not a tax assessment. The editorial team is named as WiT Money. A named adviser is not invented for a byline.
Tax figures used in the guides are the ones in the site tax file for the 2027 year of assessment, checked against SARS and the Budget 2026 tax guide on 28 October 2026. Where a current rand figure has not been re-checked, the guide says so and does not print one. Deposit insurance of R100 000 per qualifying depositor per bank is the figure already used on the savings comparison, from the Reserve Bank's CODI explanation.
Library reviewed 29 October 2026. A template change does not move an older article's own review date.