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Tax-Free Savings Account (TFSA)
- Invest in your T F S A up to the annual limit and watch it grow, tax-free
- You can fill your T F S A with various investments, such as stocks, bonds, Exchange Traded Funds, mutual funds and Guaranteed Investment Certificates
- Tax-free savings accounts allow you to make withdrawals, without penalty, whenever you’d like
Why invest in a TFSA?
Tax-free growth
Mix things up
A flexible account
TFSAs by the numbers
How to make the most of your TFSA
Make sure you have the right investments
Make sure the investments you hold in a TFSA align with your risk tolerance and investment horizon. Saving for retirement? Stocks, ETFs and mutual funds are great choices.Max out contributions
Save early and often
Take advantage of our savings account rates
Investments you can hold in your TFSA account
TFSA Calculator
Find out how much money you could save by investing with a Tax-Free Savings Account (T F S A) compared to a regular, taxable bank account with our easy-to-use T F S A Calculator.Tell us a bit about how you save and we’ll help calculate your potential savings.
Now the page requires users to select information, and the information on the page changes based on your selections.
move the slider to set your initial investment
move the slider to set your yearly contribution
move the slider to set the length of time that you’d like to save
move the slider to set your expected annual growth
select your income bracket from the dropdown
move the slider to set your initial investment
move the slider to set your yearly contribution
move the slider to set the length of time that you’d like to save
move the slider to set your expected annual growth
select your income bracket from the dropdown
Your TFSA summary
You could save $3,121 in taxes over 20 years with a TFSA!year | TFSA | Taxable account | Tax saved |
---|---|---|---|
2025 | $2,000 | $2,000 | $0 |
2030 | $5,454 | $5,225 | $229 |
2035 | $9,861 | $9,125 | $736 |
2040 | $15,487 | $13,841 | $1,646 |
2045 | $22,666 | $19,545 | $3,121 |
Your savings summary
TFSA | Taxable account | |
---|---|---|
Your total deposits | $12,000 | $12,000 |
Your total growth | $10,666 | $7,545 |
Your total savings | $22,666 | $19,545 |