Tax-Free Savings

Three Investment Options with GREAT RATES!

Whether you're looking for a short term or a longer term for your investments, we've got three great options with the best rates to make your money work harder for you.

Step Up GIC ... the longer you leave it, the better it gets!

Enjoy the beneifit of a higher rate on a three year term.  A great addition to your RRSP, TFSA or non-registered plan, with the flexibility to redeem annually on the anniversary date (no partial redemptions).  Minimum deposit $1,000.

Step Up GIC: Escalating rate, 3 year term (Rates effective 2017-11-20) Rates
1st year 1.60%
2nd Year 2.35%
3rd Year 3.35%
Average Yield 2.45%

Invest for 15 months or 25 months

Watch your RRSP, RRIF, TFSA or non-registered investment grow in just 15 or 25 months with these limited time special offers!

GICSpecial (Rates effective 2017-11-20) Rates
15 months: $1,000 and over 2.25%
25 months: $1,000 and over 2.45%

Grow your savings with a Tax-Free Savings Account

The Tax-Free Savings Account (TFSA) is a flexible, registered, general-purpose savings vehicle that allows Canadians to earn tax-free investment income to more easily meet lifetime savings needs. The TFSA complements existing registered savings plans like the Registered Retirement Savings Plans (RRSP) and the Registered Education Savings Plans (RESP). How the Tax-Free Savings Account Works

  • Annual contribution limits, starting in 2009, are detailed on the CRA website:

  • All Canadian residents, aged 18 or older, can contribute to a TFSA.

  • Investment income earned in a TFSA is tax-free.

  • Withdrawals from a TFSA are tax-free.

  • Unused TFSA contribution room is carried forward and accumulates in future years.

  • Full amount of withdrawals can be put back into the TFSA in future years. Re-contributing in the same year may result in an over-contribution amount which would be subject to a penalty tax.

  • Choose from a wide range of investment options such as mutual funds, Guaranteed Investment Certificates (GICs) and bonds.

  • Contributions are not tax-deductible.

  • Neither income earned within a TFSA nor withdrawals from it affect eligibility for federal income-tested benefits and credits, such as Old Age Security, the Guaranteed Income Supplement, and the Canada Child Tax Benefit.

  • Funds can be given to a spouse or common-law partner for them to invest in their TFSA.

  • TFSA assets can generally be transferred to a spouse or common-law partner upon death.


Canada Revenue Agency:  Tax-Free Savings Account (TFSA), Guide for Individuals



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  • Comparing RRSPs & TFSAs (PDF - 837.23 KB)

    Canadians are fortunate to have two options for saving: TFSAs and RRSPs. This booklet explains the difference.