Smart Start Tax-Free Saver Account (TFSA)

Save for the future with this tax-free savings account.

Talk to a helpful ATB team member to learn more and open this account.

Details

Overview

This account is for permanent residents who have moved to Canada within the past five years. You need to be at least 18 years old and have a Social Insurance Number (SIN).

Save your money in an account that gets you a premium interest rate and grows your savings tax-free. You’ll always have access to your money and no minimum balance is required.

Save up to $5,500 every year. You can take your money out any time.

Pricing

  • Interest earned
  • Fees
    No fees
  • Minimum Balance
    • No minimum balance required but a minimum contribution of $25 per month is recommended.
  • Investment Plan
    • Tax-Free Savings Account (TFSA) is a government plan that is designed to help individuals save money tax-free throughout their lifetime. A TFSA is funded with monies where the tax has already been paid so you don't get a tax deferred benefit but all income generated within the TFSA grows tax-free.

Additional Information

  • Other features
    • Every Canadian resident 18 years of age or older is eligible to save or invest up to $5,5003 every year in a government-registered TFSA.
    • Money earned or withdrawn from your TFSA is non-taxable—that is, all interest, dividends or capital gains earned are tax free.
    • If you withdraw an amount from your TFSA, you can re-contribute that same amount the following year or any year after that.
    • Carry-forward your contribution room—it never expires.
    • Collect federal benefits without deductions. Old Age Security, Guaranteed Income Supplements, Employment Insurance and Canada Child Tax Benefits are not impacted by TFSA withdrawals.
    • Create tax-free savings even if you're over 71. There are no age limits with a TFSA. So if you have more retirement income from your Registered Retirement Income Fund (RRIF) than you need, just invest it in a TFSA.
  • Notes
    1. The 1% bonus offer is available only from October 15, 2016 to June 30, 2017. Both existing and new customers are eligible for the bonus.

      If you’re an existing customer with a positive balance (“Starting Balance”) in an eligible account when the promotion starts, only the funds deposited into this account during the promotional period above that Starting Balance are eligible for the 1% bonus. Funds within an eligible account not receiving the bonus rate continue to receive the regular interest rate of the account.

      If you have a maturing investment that is deposited into an eligible account, that deposit will not be eligible for the 1% bonus (but it will still receive the regular interest rate of the account). This offer is subject to change without notice.

      We’d love to fill you in on the terms and conditions. Stop by any branch or call us at 1-800-332-8383.
    2. A limit of one time $25 credit per customer with initial set up of pre-authorized contribution. Offer subject to change without notice. Offers cannot be combined with any other offers.
    3. The $5,500 TFSA annual contribution limit is effective January 1, 2016. Previous limits were $5,000 (2009-2012), $5,500 (2013-2014) and $10,000 (2015)

Details

Overview

This account is for permanent residents who have moved to Canada within the past five years. You need to be at least 18 years old and have a Social Insurance Number (SIN).

Save your money in an account that gets you a premium interest rate and grows your savings tax-free. You’ll always have access to your money and no minimum balance is required.

Save up to $5,500 every year. You can take your money out any time.

Pricing

  • Interest earned
  • Fees
    No fees
  • Minimum Balance
    • No minimum balance required but a minimum contribution of $25 per month is recommended.
  • Investment Plan
    • Tax-Free Savings Account (TFSA) is a government plan that is designed to help individuals save money tax-free throughout their lifetime. A TFSA is funded with monies where the tax has already been paid so you don't get a tax deferred benefit but all income generated within the TFSA grows tax-free.

Additional Information

  • Other features
    • Every Canadian resident 18 years of age or older is eligible to save or invest up to $5,5003 every year in a government-registered TFSA.
    • Money earned or withdrawn from your TFSA is non-taxable—that is, all interest, dividends or capital gains earned are tax free.
    • If you withdraw an amount from your TFSA, you can re-contribute that same amount the following year or any year after that.
    • Carry-forward your contribution room—it never expires.
    • Collect federal benefits without deductions. Old Age Security, Guaranteed Income Supplements, Employment Insurance and Canada Child Tax Benefits are not impacted by TFSA withdrawals.
    • Create tax-free savings even if you're over 71. There are no age limits with a TFSA. So if you have more retirement income from your Registered Retirement Income Fund (RRIF) than you need, just invest it in a TFSA.
  • Notes
    1. The 1% bonus offer is available only from October 15, 2016 to June 30, 2017. Both existing and new customers are eligible for the bonus.

      If you’re an existing customer with a positive balance (“Starting Balance”) in an eligible account when the promotion starts, only the funds deposited into this account during the promotional period above that Starting Balance are eligible for the 1% bonus. Funds within an eligible account not receiving the bonus rate continue to receive the regular interest rate of the account.

      If you have a maturing investment that is deposited into an eligible account, that deposit will not be eligible for the 1% bonus (but it will still receive the regular interest rate of the account). This offer is subject to change without notice.

      We’d love to fill you in on the terms and conditions. Stop by any branch or call us at 1-800-332-8383.
    2. A limit of one time $25 credit per customer with initial set up of pre-authorized contribution. Offer subject to change without notice. Offers cannot be combined with any other offers.
    3. The $5,500 TFSA annual contribution limit is effective January 1, 2016. Previous limits were $5,000 (2009-2012), $5,500 (2013-2014) and $10,000 (2015)

Important Information

Talk to a helpful ATB team member to learn more and open this account.