Tax-Free Savings Account (TFSA)
Grow your savings tax-free with a TFSA. Enjoy flexible withdrawals and tax-free investment growth for any financial goal.
A Tax-Free Savings Account (TFSA) is a flexible savings vehicle that helps you:
- Earn tax-free investment income
- Make tax-free withdrawals, with the room restored the following calendar year
- Save for any financial goal
TFSA Options
Savings TFSA
A simple savings account that offers tax-free interest earnings with easy access to your money.
- Fixed-rate options available, such as GICs
- No exposure to market ups and downs
- Easy access to funds (GIC deposits may be locked in until maturity)
Investment TFSA
An account that holds a range of qualified investments while maintaining tax-free growth. Investment values can go down as well as up.
- Multiple investment options
- Potential for higher returns
- Professional management options
Planning Your TFSA
Consider Your Goals
- Short-term vs long-term goals
- Risk tolerance
- Contribution room
Plan Features
- Annual contribution limits
- Investment options
- Withdrawal flexibility
TFSA contribution limits are set annually by the Canada Revenue Agency, and your personal room depends on your contribution history. Withdrawn amounts are added back to your contribution room the following calendar year — re-contributing in the same year may result in an over-contribution penalty tax. Rates, features, and access terms vary by product and provider. This page is general information, not tax advice; speak with an advisor about your situation.
Ready to Get Started?
Speak with one of our expert advisors to find the right tfsa plan for your needs.
