Tax Free Savings

We know that everyone is at various stages of their lives and has different savings objectives based on their current and future needs. A Tax Free Savings Account is a great way to save for pre-retirement needs without tax consequences on withdrawals and the ability to avoid the use of RRSP room for non-retirement savings needs.

Learn all the Things to Know about all the benefits of a Tax Free Savings Account.

A Tax Free Savings Account can be invested in the following investment vehicles:

Tax Free Variable Savings Expand/Collapse

You have money and are looking for a high interest savings account that won’t force you to "lock in" your funds.

A Great Rate
Enjoy earning a higher interest rate with your minimum balance of $5,000.

Unlimited access to YOUR funds
Access your money at anytime, without locking in your funds.

Safe and Secure
Deposits insured by the Financial Services Regulatory Authority of Ontario (FSRA), making sure your money is protected.

Daily Interest
Interest is calculated daily, and paid monthly on full balance.

*Minimum balance of $5,000 to obtain highest interest rate

Index-Linked GIC Expand/Collapse

What is an Index-Linked GIC?
Index-Linked GICs are a type of GIC where returns are linked to the performance of stock market indexes. The performance in the stock market or sector to which the GIC is “linked” determines the rate of return, but the principal investment is always secured and guaranteed.

Why should I invest in an Index-Linked GIC?
Investing in an Index-Linked GIC gives you the potential to earn a higher return than you would with other fixed income products. Plus, you can feel secure knowing that no matter how the market performs, your principal amount is guaranteed.

There’s a little more risk involved in an Index-Linked GIC because while you could earn a great return if the market performs well; you also take the chance that if the market doesn’t perform well, you’re not guaranteed a return.

Index-Linked GIC Key Features

  • 100% principal investment guaranteed – at minimum, your initial investment will be returned to you at the end of the term
  • Higher potential returns based on stock market performance
  • No fees or commissions
  • Deposits insured by Financial Services Regulatory Authority of Ontario (FSRA)
  • Non-Registered, RRSP and TFSA eligible
  • $1,000 minimum required

Pay Yourself GIC Expand/Collapse

The YNCU Pay Yourself Guaranteed Investment Certificate (GIC) is ideal for anyone trying to find a way to start working towards his or her financial goals by creating a monthly savings plan.

Make it part of your portfolio and start saving with a simple to set up, easy to use, monthly savings plan. Invest in yourself!

Rate
Enjoy the security of a guaranteed rate.

Term
Feature Product:

  • 1 Year Term Deposit (Non Redeemable)*
  • To simplify the renewal process, this investment will automatically renew into the same investment at the posted rate.

Safe and Secure
Deposits insured by the Financial Services Regulatory Authority of Ontario (FSRA), making sure your money is protected.

Interest & Principal Guaranteed
Guaranteed growth and 100% principal protection.

Interest
Interest paid at maturity.

Minimum Deposit
A monthly contribution is required, with no minimum dollar amount.

Step Up Term Deposit Expand/Collapse

Enjoy never paying tax on your contributions and interest earned. A Step Up Term Deposit is a great option for growing your money, at an escalating rate, with the security of knowing your principal is protected.

Rate
Enjoy earning a higher interest rate year after year.

Term

Feature Product:
  • 3 Year Step Up Term Deposit (Redeemable)
  • To simplify the renewal process, this investment will automatically renew into the same investment at the posted rate.

Safe and Secure
Deposits insured by the Financial Services Regulatory Authority of Ontario (FSRA), making sure your money is protected.

Interest & Principal Guaranteed
Guaranteed growth and 100% principal protection.

Interest
Interest can be paid annually, or at maturity.

Minium Deposit
Minimum $1000 deposit is required.

Term Deposits Expand/Collapse

Enjoy never paying tax on your contributions and interest earned.

A long term deposit is a great option for growing your money, with the security of knowing your principal is protected. Community First offers both redeemable and non-redeemable long term deposits.

Rate
Enjoy the security of a guaranteed rate.

Term

Feature Product:
  • 1 to 5 year non-redeemable terms available.
  • To simplify the renewal process, this investment will automatically renew into the same investment at the posted rate.

Safe and Secure
Deposits insured by the Financial Services Regulatory Authority of Ontario (FSRA), making sure your money is protected.

Interest & Principal Guaranteed
Guaranteed growth and 100% principal protection.

Interest
Interest can be paid monthly, annually, or at maturity.

Minimum Deposit
Minimum $1000 deposit is required.

To sign up for one of our Tax Free Savings Account (TFSA) options or to discuss how to diversify your investment portfolio, just call or visit one of our experienced and professional Financial Service Representatives, at any of our branch locations >



 

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