Tax-Free Saver (TFSA) Account

Reap the rewards of this high-interest savings account!

Interest rate

Premium rate

Offline Purchase Instructions

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Details

Overview

Save your money with an account that pays you a premium interest rate and grows your savings tax-free. This first-class savings account pays one great rate on your total balance. You always have access to your money and no minimum balance is required.

Plus, no deadline for your contributions, you can invest up to $5,500 annually2, and you can withdraw money at any time with no penalty.

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.

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 year of age or older is eligible to save or invest up to $5,5001 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    • Money earned or withdrawn from your TFSA is non-taxable—that is, all interest, dividends or capital gains earned are tax free.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.
  • Notes

    1 - The 1% bonus offer is available only on new deposits made from September 1, 2018 to April 30, 2019 into Tax-Free Saver Accounts. Both existing and new customers are eligible for the bonus. If you’re an existing customer, this bonus applies to any new deposits above your balance as of September 1, 2018.

    For example, if you have $100 in your account on September 1, 2018, any new deposits above $100 would receive the 1% bonus. Funds 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). Tax implications may be associated with this offer. Please consult your tax advisor with regard to your personal tax situation. This offer is subject to change without notice.

    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

Save your money with an account that pays you a premium interest rate and grows your savings tax-free. This first-class savings account pays one great rate on your total balance. You always have access to your money and no minimum balance is required.

Plus, no deadline for your contributions, you can invest up to $5,500 annually2, and you can withdraw money at any time with no penalty.

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.

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 year of age or older is eligible to save or invest up to $5,5001 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.
  • Notes

    1 - The 1% bonus offer is available only on new deposits made from September 1, 2018 to April 30, 2019 into Tax-Free Saver Accounts. Both existing and new customers are eligible for the bonus. If you’re an existing customer, this bonus applies to any new deposits above your balance as of September 1, 2018.

    For example, if you have $100 in your account on September 1, 2018, any new deposits above $100 would receive the 1% bonus. Funds 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). Tax implications may be associated with this offer. Please consult your tax advisor with regard to your personal tax situation. This offer is subject to change without notice.

    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

Premium rate

Offline Purchase Instructions

You May Also Like

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