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Tax-free savings to grow your money

Grow your money tax-free and use your savings whenever you want. Save for your short or long-term goals and use it toward things like a vacation, wedding, or your retirement.

Key benefits:

  • Save for short or long-term goals
  • Withdraw without penalty
  • Enjoy tax-free investment returns
  • Catch up on unused contributions any time
  • Invest with a variety of options

Key features:

  • Contribute up to your annual limit
  • Unused annual contributions carry forward
  • If you withdraw, you can recontribute the following year

Saving & investing

Get the lowdown on TFSAs

A TFSA (Tax-Free Savings Account) is a registered savings plan that lets you grow and withdraw your money, tax-free. You won’t be taxed on the interest and income earned when you withdraw funds.

  • Get started with TFSAs
  • How to invest through a TFSA
  • Making the most of your contributions

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Smart investing

What can you invest in a TFSA?

Include different types of investments in your TFSA to make the most of your money, including:

  • High-interest savings account
  • Term deposits
  • Mutual funds
  • Securities

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Other ways to save

The key to realizing your dream

Owning your dream home is possible when you open a FHSA.

  • Contribute up to $8,000 annually
  • Lifetime contribution limit of $40,000
  • Qualified tax-free withdrawals


Tax-Free Savings Account vs Retirement Savings Plan

A TFSA is a savings option that allows you to access funds, without penalty, when you need them. While an RRSP is more of a long-term savings option for retirement, where early withdrawals are taxed.

Tax-Free Savings Account:

  • Designed to save for short or long-term goals
  • A registered savings account
  • Free to withdraw at any time with no penalties
  • No tax on interest earned

Retirement Savings Plan:

  • Investment income earned can grow tax-deferred
  • Tax breaks for annual contributions
  • No tax on earnings
  • Contribute to a spousal RRSP

Explore tax-free savings

Use our TFSA calculator to help you determine the financial benefits of investing through TFSAs, and then start saving.

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.

Start saving smarter with these options


Save for retirement and save on taxes in the meantime— this option can do it all.

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Manage retirement income by using the funds saved in your RRSP.

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Start saving for your child's education with added government benefits.

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Term Deposits

Worry-free investments for long-term funds, and your peace of mind.

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Mutual Funds

Invest collectively in securities, and benefit from the income they generate.

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Responsible Investing Portfolio

Invest in companies with a proven, positive environmental record.

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Saving & retirement tips

Long-term goals need long-term plans

From school to retirement and all the life steps in between, here are some tips and tricks to get you started on your saving and investing strategy.

Saving & investing

First Timer’s Guide to Saving & Investing

With saving, you’ve got to start somewhere–and every penny counts. Untangle all the acronyms and find the perfect plan to help you reach your goals.


First Timer’s Guide to Retirement

There’s no better time to start saving than now. You work hard and deserve to enjoy retirement comfortably. Find out how to make it happen.


How to build a financial plan

Building a roadmap to meet your financial goals? This article breaks it down. When you're ready, you can connect with our financial experts and start .