Build your savings faster with our flexible Tax-Free Savings Account (TFSA) options
We all have financial goals. Some for this year, some for next
year, and some for way down the road. Whether you’re saving for a home, a
vacation, or to cover unexpected expenses,
invest with high-interest on cash savings or guaranteed investment
certificates (GICs) in an account that doesn’t tax the growth on your
money.
1.25% Tax Free Advantage Account rate
Benefits of a TFSA
Faster growth without taxes
In your TFSA, taxes don’t take a bite out of the interest you
earn. Every dollar grows tax-free, and you can withdraw your money
tax-free
Safe investment choices
With a ABN Premium TFSA, your money is eligible for deposit insurance through the Canada Deposit Insurance Corporation (CDIC).
It grows with you
Starting when you turn 18, your TFSA contribution room grows
each year. Unused room is carried forward, and unlike an RRSP, there’s
no maximum age to have a TFSA.
Withdraw and re-contribute
The money you take out of your TFSA is added to your
contribution room the following year, so you can re-contribute what you
took out.
No minimums or fees
There's no minimum balance required to start saving, no set-up or monthly fees, and no fees to deposit or withdraw money.
Fees
With our Tax-Free Advantage Account, there are no fees to open an
account, make deposits, or withdraw funds. With Tax-Free GICs, there are
redemption fees
if you want to cash out before the investment term is complete.
Redemption fees depend on market value adjustments and expense recovery
fees.