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Tax-Free Savings Accounts (TFSAs) help you save for any goal.
Personal investing

Tax-Free Savings Account

Save for short-term and long-term expenses, with no tax on withdrawals.

Build savings with the flexibility to withdraw

Dreaming of your next big trip, your first electric car or a reno to freshen up your bathroom? Looking to build an emergency fund? Save in a TFSA and you can take the money out tax-free whenever you’re ready to spend. How much can you contribute? Check your latest Notice of Assessment for your accumulated room.
  • Open your TFSA after you turn 19
  • Contribute anytime up to your limit 
  • Pay no tax on investment growth 
  • Withdraw your money tax-free
  • Set up automatic contributions
  • Invest in term deposits and mutual funds
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Investment planning

How much can I contribute?

Let’s assume you were eligible to open a TFSA when the program started in 2009, but haven’t got around to it yet. You could contribute a total of $88,000 in 2023. That’s a lot of money you can grow tax-free.

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Quick tip

Withdrawing and recontributing

You don’t pay any tax or lose federal income-tested benefits and credits when you withdraw from a TFSA. It’s like TFSA withdrawals have the superpower of invisibility.

Also, you don’t lose your contribution room when you withdraw (as you do with an RRSP). You can recontribute the same amount in the following calendar year and continue to build your savings tax-free.

TFSA calculator

Use the TFSA calculator to estimate how much you need to contribute to reach your short-term or long-term savings goals.

*These calculators are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.

Ways to bank with us

The many ways you can access your accounts, documents, statements, and more:

Explore all registered plans

Registered Retirement Savings Plan (RRSP)

Save for the lifestyle you want in retirement, with tax advantages.

View details

Registered Education Savings Plan (RESP)

Fund a child’s educational dreams, with government grants.

View details

Registered Disability Savings Plan (RDSP)

Build long-term financial security for a person with disabilities.

View details

Registered Retirement Income Fund (RRIF)

Start spending savings in retirement by turning your RRSP into a RRIF.

View details

First Home Savings Account (FHSA)

Have you seen the cost of houses these days? Help is on the way!

View details

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Wealth planning

Work with a local Wealth Advisor

Our wealth advisors can help invest your TFSA to maximize growth so you can achieve your savings goals faster. We’re here to help.


How to reach us

Call our Member Service Centre

Toll free
1 888 440 4480

Monday to Friday
8 am - 8 pm

Saturday 9 am - 5 pm

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Send us an email
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer which insures deposits in credit unions.

Unless otherwise stated, cash balances, mutual funds and other securities are not insured nor guaranteed, their values change frequently, and past performance may not be repeated.

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

Qtrade Guided Portfolios is a division of Aviso Financial Inc.

Online brokerage services are offered through Qtrade Direct Investing, a division of Aviso Financial Inc.