A TFSA is a government-registered account that allows you to grow your savings tax-free, whatever your annual income. You pay no tax on interest income or withdrawals.
You can withdraw funds from your TFSA any time, for any reason, depending on the type of investment product* you choose.
* Certain products, such as non-redeemable Guaranteed Investment Certificates (GICs), cannot be retrieved at any time.
Age of majority in your province of residence
TFSAs are available to any Canadian resident who has reached the age of majority* (no age limit) and has a valid SIN
* Contribution room is accrued starting at age 18, no matter what the age of majority in your province of residence.
Choose products based on your investor profile, transfer your savings and start earning interest tax-free.
Make the most of your savings with our expert advice.
The following GICs cannot be held in a TFSA:
Looking to invest in one of these GICs? Choose an RRSP or non-registered plan instead.
TFSA cash account
Quick contributions to your TFSA cash account can be transferred to an investment solution at any time, leaving your options open.
|Type|| Guaranteed principal
|Term|| No fixed term, transferable at any time
|Risk level|| Low
*Rates subject to change without notice. Interest is calculated on the daily balance and paid on the first Friday after the 16th of each month. If the 16th is a Thursday or Friday, interest is paid on the Friday of the following week.
The elements presented in this text are given for information purposes only. These elements do not create any legal or contractual obligation for the National Bank and/or the entities of its group. You agree to validate the applicability and the advantageous nature of these elements with your advisor, accountant, tax specialist, or other tax planner, as the case may be.
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