Have you set up automatic TFSA contributions?

Setting up automatic Tax-Free Savings Account (TFSA) contributions makes earning tax-free interest painless. And since automatic contributions don't need to be renewed, you can take full advantage of the benefits of TFSAs all year, every year.

When deciding how much to transfer, it's important to consider what your contribution room is. This year's contribution room is $5,500, but if you haven't been contributing the maximum amount every year, you may be able to contribute more. Learn more about contribution room, including how to track yours and penalties for over-contribution, here.

Don't forget that once you've reached $1000 in savings, you have the option of earning more by putting the funds into a TFSA Cashable GIC.

Learn more about TFSAs.
Set up an automatic transfer.

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Rates effective
Apr 19, 2024

  • 3.60% Savings
  • 5.00% 1 Year Term
  • 4.40% 5 Year Term
View all rates