Choose Alberta TFSA - Oil Price

Earn a guaranteed 2.55%1 interest rate plus a potential one-time bonus that’s tied to the Alberta economy.

Interest rate

Guaranteed + Bonus

Offline Purchase Instructions

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Details

Overview

The Choose Alberta TFSA is a unique 27-month non-redeemable Guaranteed Investment Certificate (GIC) in a Tax-free Savings Account (TFSA) that provides tax-free benefits.

The full amount of your original investment amount (the principal) and the interest you earn are fully guaranteed, with possibility of a one-time bonus tied to the West Texas Intermediate (WTI) oil price upon maturity.

Any individual who is 18 years of age or older and who has a valid Canadian social insurance number (SIN) is eligible to open a TFSA.

Here's how it works:

  1. Deposit at least $500.
  2. Earn interest, calculated annually, for the 27-month term.
  3. On the 15th day of the month before your GIC matures, we'll pull the West Texas Intermediate (WTI) oil price published here and use that to calculate your specified bonus rate.
  4. When your term is up receive your guaranteed rate of return. Your one-time bonus will be paid out within 30 days of your investment maturing.

 

Click here to see the bonus rates and view a payment example >

Pricing

  • Interest earned
    Guaranteed 2.55%1 (calculated annually) + one-time bonus
    Click here for bonus details
  • Fees
    No fees, but if you redeem early, a penalty may apply and you will not receive the one-time bonus
  • Term Range
    27 months
  • Minimum Balance
    $500
  • Cashability
    Non-cashable during term of the investment. Only redeemable in the event of death.
  • 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 money 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

    Unique one-time bonus based on WTI oil price.

    About TFSAs

    Every Canadian resident 18 year of age or older is eligible to save or invest up to $5,5002 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    Money earned or withdrawn from your TFSA is non-taxable—that is, all interest, dividends or capital gains earned are tax-free.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 our 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.

  • Additional Options
    Also available on non registered or RRSP
  • Notes

    1 - Annual interest rate effective as of October 16, 2018. Rate subject to change without notice. Visit atb.com/rates or any ATB branch for current rates. Choose Alberta GICs are subject to availability. ATB Financial reserves the right to withdraw this offer at any time.

    2 - 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

The Choose Alberta TFSA is a unique 27-month non-redeemable Guaranteed Investment Certificate (GIC) in a Tax-free Savings Account (TFSA) that provides tax-free benefits.

The full amount of your original investment amount (the principal) and the interest you earn are fully guaranteed, with possibility of a one-time bonus tied to the West Texas Intermediate (WTI) oil price upon maturity.

Any individual who is 18 years of age or older and who has a valid Canadian social insurance number (SIN) is eligible to open a TFSA.

Here's how it works:

  1. Deposit at least $500.
  2. Earn interest, calculated annually, for the 27-month term.
  3. On the 15th day of the month before your GIC matures, we'll pull the West Texas Intermediate (WTI) oil price published here and use that to calculate your specified bonus rate.
  4. When your term is up receive your guaranteed rate of return. Your one-time bonus will be paid out within 30 days of your investment maturing.

 

Click here to see the bonus rates and view a payment example >

Pricing

  • Interest earned
    Guaranteed 2.55%1 (calculated annually) + one-time bonus
    Click here for bonus details
  • Fees
    No fees, but if you redeem early, a penalty may apply and you will not receive the one-time bonus
  • Term Range
    27 months
  • Minimum Balance
    $500
  • Cashability
    Non-cashable during term of the investment. Only redeemable in the event of death.
  • 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 money 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

    Unique one-time bonus based on WTI oil price.

    About TFSAs

    Every Canadian resident 18 year of age or older is eligible to save or invest up to $5,5002 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 our 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.

  • Additional Options
    Also available on non registered or RRSP
  • Notes

    1 - Annual interest rate effective as of October 16, 2018. Rate subject to change without notice. Visit atb.com/rates or any ATB branch for current rates. Choose Alberta GICs are subject to availability. ATB Financial reserves the right to withdraw this offer at any time.

    2 - 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)

  • Contact Us
  • 1-844-642-7940
  • Monday - Friday 9am - 6pm
  • Saturday 9am - 5pm

Important Information

Interest rate

Guaranteed + Bonus

Offline Purchase Instructions

You May Also Like

  • Contact Us
  • 1-844-642-7940
  • Monday - Friday 9am - 6pm
  • Saturday 9am - 5pm