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Tax-Free Savings Account (TFSA)


A Tax-Free Savings Account (TFSA) is a registered savings account that lets you grow and withdraw your money tax-free, making it a great option when saving for short and long-term goals. The TFSA was introduced by the Government of Canada in 2009. It was designed to help Canadians that are 18 years or older save money tax-free.

Benefits of TFSAs

  • Tax-free growth and withdrawals

    You pay no tax on qualified investment income that you earn in your TFSA and you can withdraw funds from your TFSA without paying tax.

  • Not just a savings account

    Your TFSA can hold a variety of qualified investments, including cash, stocks, guaranteed investment certificates (GICs) and mutual funds.

  • A flexible way to save

    Withdrawing from your TFSA does not mean permanently losing your contribution room. Contribution room accumulates each year, so you can
    re-contribute withdrawn contribution amounts in the following year(s).

  • Comfort and convenience

    A TFSA offers you the flexibility to save for various short-term and long-term goals, usually, with easy access to your money depending on the type of investment you hold.

Open an account online – it's fast and easy

We offer several TFSA investment options based on your investment goals and risk appetite. See which investment account may be right for you.

  • TD Canada Trust TFSA

    Great for: Investors seeking reliable growth

    • Gives you the option of investing in GICs while maintaining a High-Interest TFSA Savings Account
    • Access to competitive interest rates to grow your savings tax-free
    • Benefit from predictable returns
    Open account

  • TD Mutual Funds TFSA

    Great for: Investors comfortable with some risk

    • Gives you access to certain mutual funds offered through TD Investment Services Inc.
    • Benefit from professionally managed mutual fund investments
    • Flexible savings options through a Pre-Authorized Purchase Plan
    Book an appointment

  • TD GICs & Term Deposits

    Great for: Investors seeking modest returns with no risk

    • Fully protects your principal, with the option to choose from fixed-rate or Market Growth GICs
    • Access to a variety of GICs with different terms and features
    • Earn a guaranteed rate of interest
    Book an appointment

We can help you plan for the future

  • Personalized investment advice

    TD Personal Bankers will work with you to understand your financial goals and help you map a path towards achieving them.

  • The right options

    No matter what type of investor you may be, we’re ready with options to help you succeed.

  • Convenience

    The advice you want, on your terms. Call us Monday to Friday from 8 am – 8 pm to speak to an Investment Specialist in English, French, Mandarin or Cantonese.

TFSA Calculator

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Frequently Asked Questions

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