Starting November 1st, 2023, Tax-Free Savings Account (TFSA) Variable account holders will receive one free withdrawal per month.
Did you know a TFSA is not just a savings account, it’s a powerful tool that can help you achieve your financial goals? It allows your investment to grow tax-free while saving for short or long-term goals such as a car, vacation, wedding, or buying a home.
What is the best way to use a TFSA Account?
- Contribute monthly to your account either by automatically transferring money in, or doing it yourself online.
- Use this savings account to put money aside to save for larger purchases. This is a registered product and is not the account to withdrawal from regularly.
Who is it for?
To contribute to a TFSA, you must be a Canadian resident who is at least 18 years old and has a Social Insurance Number (SIN). Even foreign citizens who are resident in Canada qualify, though their home country rules may subject a TFSA to tax.
This registered product is perfect to use as a rainy-day fund. We offer 1 free withdrawal per month, after that there will be a fee. For a listing of our Fee for Service click here.