Skip to main content
Select Image

Tax-Free Savings Accounts

Accelerate your savings for any goal with tax-free growth, flexible contribution room and ways to invest that fit your unique needs.

Achieve your financial goals faster with tax-free investing


Use it for any savings goal

Be it a vacation, an emergency fund or income for your retirement, use your TFSA for next year – or down the road.

Easy access when you need it

Withdraw your money when you need to, without paying taxes or fees – and get your contribution room back for future years.

Growth, minus capital gains tax

You contribute with after-tax dollars, so you can benefit from tax-free growth on your investment returns.
  • TFSAs can be used to save for any goal you choose.
  • Contributions are not tax deductible.
  • You don’t pay tax on capital gains or other investment income.  
  • Any Canadian aged 18 or older can save and invest using a TFSA.
  • You don’t have to earn income to be able to contribute.
  • You earn contribution room without having to file a tax return. 
  • Contribution limits vary by year.
  • Unused contribution amounts can be carried forward to future years.
  • You’re charged a penalty for contributing more than your limit.
  • Contribution limits are indexed to inflation and increase every few years.
  • If you were 18 years old or older in 2009, your maximum contribution limit for 2024 is $95,000.
Years Contribution Limit
2009-2012 $5,000
2013, 2014  $5,500
2015 $10,000
2016-2018 $5,500
2019-2022 $6,000
2023 $6,500
2024 $7,000
If you contribute too much to your TFSA, the Canada Revenue Agency will charge a penalty of 1% until you withdraw the excess amount.  

If you over-contribute on purpose, any investment gains are taxed at 100%.

Grow your savings with investments that suit your goals

Term Deposits

Enjoy guaranteed returns and the knowledge that your deposit is 100% protected.

Mutual Funds

Benefit from diversified growth with a professionally managed investment portfolio.

Invest with expert advice

Let our team of local experts walk you through your investment options and create a plan that suits your needs.

Select Image

Invest on your own

Prefer to manage your own investments? Our award-winning trading platform makes buying, selling and rebalancing easy.

Select Image

Ready to open an account?

Let our team help you get started.
Select Image

Top up savings with a TFSA Loan

With our investment loans, you can maximize the benefits of tax-free growth at competitive borrowing rates.

Save for retirement

Whether your retirement is now or some far-off tomorrow, make the most of your investments with our registered plans. 

Select Icon

Try our investment calculators

See how you’re progressing against your financial goals with our easy-to-use calculators.


Neighbours Helping Neighbours.

Select Icon
See contact options
Select Icon
Fill out contact form
Select Icon
Find a branch