What are TFSAs?
Tax-Free Savings Accounts are a way for you to earn interest on your savings without paying taxes.
The annual contribution limit for 2009 to 2012 was $5000, and the contribution limit for both 2013 and 2014 rose to $5500. If you don’t contribute the maximum amount one year, your next year’s contribution room increases by the remaining amount. Withdrawals from your TFSA will be added to your contribution room at the beginning of the next year. This makes the TFSA a great savings choice.
Why invest in an Outlook TFSA?
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.
How to set up a new TFSA Plan
Applying to Outlook is fast, simple and secure. Depending on the options you choose, your application should take about 5-10 minutes to complete. Your account will be open within 2 business days after we receive your application. Once completed, you will receive an email notification welcoming you to Outlook Financial and giving you all the information you need to manage your accounts.
Once you are a member, setting up a new TFSA, is as easy as completing our online TFSA Application. Your TFSA Plan will be opened within 2 business days after we receive your request.