Investment Options
Tax-free Savings Account
Earn Tax Free Income
A great account for tax-free savings. The TFSA provides a tax-free savings account that allows you to invest without paying tax on interest or investment earnings.
Enjoy the features our Tax-free Savings Account has to offer:
- Our competitive interest rates will earn you tax-free savings through our TFSA GIC account or TFSA savings account.
- Unlimited deposit insurance coverage.
- Statements are issued annually, free of charge.
- Eligibility for this account requires you to be 18 years of age or older, and a Canadian resident.
- Contributions must be made by the owner and are not tax deductible.
- Maximum contribution limit for 2010 is $5,000.
- Withdrawals (capital and income) are not subject to tax and these amounts will be added back to your contribution room the following tax year.
- When you file your tax return the government will determine your available TFSA contribution limit for the following year, and unused room gets continually carried over. This will be reported to you on your annual CRA Notice of Assessment.
- This account is identified by the seven digit number ending with either “5”, or “.35”.
TFSA Savings
This daily interest account pays interest on the last day of every month. Members may make periodic deposits as low as $10, utilizing payroll deduction or direct deposit as a tool to save and build their tax free savings.
TFSA GICs
These are offered for amounts of $1,000 or more for terms of one, two, three, four, or five years. The interest is compounded annually.
| 1 year |
1.60% |
| 2 years | 2.25% |
| 3 years | 2.50% |
| 4 years | 2.75% |
| 5 years | 3.25% |
* Minimum investment $1,000. Interest paid annually and at maturity (compounded or paid out to account). For monthly interest deduct 0.125 from annual interest rate (minimum $10,000). Quarter Century Members add .25% to posted rate.
Contact a Specialist
416.864.2461 or 1.888.560.2218
