You can save up to $5000 every year in a Tax-Free Savings Account that lets you earn interest without ever paying taxes on it.

If you don’t contribute the maximum $5000 one year, your next year’s contribution room increases by the remaining amount. Even if you take money out of your TFSA, your withdrawn amount is added to your next year’s contribution room. This makes the TFSA a great savings choice.

Become a Member | Open a TFSA Plan | Purchase another TFSA GIC |
Transfer in an existing TFSA |

Why choose an Outlook TFSA?

Choose options that work for you. Outlook TFSAs are available as a High Interest Savings Account, with maximum flexibility, or as a GIC, with exceptional interest rates, different terms, and interest options. If you're starting small, start saving your money in a TFSA High Interest Savings Account and, when you reach a minimum of $1000, transfer into a TFSA Cashable GIC account for even higher interest.

TFSA Cashable GIC

• Be worry-free with both your TFSA deposit and interest 100% guaranteed without limit.
• Choose from 1 to 5 year Guaranteed Investment Certificates with Outlook’s great rates – higher than most conventional financial institutions.
• You can withdraw from your TFSA GIC at any time, so you’re secure in knowing you have the money if you really need it. The adjusted rate of interest for early withdrawal of your TFSA GIC is currently set at 2%, back to the date of deposit. The minimum withdrawal amount is $1000. You must maintain a minimum balance of $1000, or you have the option to cash your entire TFSA GIC at the early withdrawal rate.
• Choose to reinvest your compound interest back into your TFSA GIC, or pay it annually to your TFSA High-Interest Savings Account.
• Decide whether monthly or yearly interest payments work for you. Monthly interest payments are available at a 0.15% interest discount, paid into your TFSA High-Interest Savings account.
• Take advantage of an early start – the minimum deposit for Outlook TFSA GICs is only $1000.

TFSA High-Interest Savings Account

• Be worry free with both your TFSA deposit and interest 100% guaranteed without limit.
• Maintain maximum flexibility. With the High-Interest Savings Account, your money is always available to you.
• Benefit from competitive rates which are consistently higher than most conventional financial institutions.
• Get interest that’s calculated daily and paid monthly back into your savings account.
• No maintenance fees, and no minimum balance.
• Use your TFSA High-Interest Savings Account to build the $1,000 required for a GIC, and then transfer your money into a TFSA Cashable GIC for even greater returns.

Information about your TFSA is available any time through Online Banking and Telephone Banking, with paper statements sent out twice yearly, in January and July.

For more information about Outlook TFSAs, contact us.

Become a Member | Open a TFSA Plan | Purchase another TFSA GIC |
Transfer in an existing TFSA |