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    re-contribute withdrawn contribution amounts in the following year(s).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.

  • 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
  • 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
  • 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

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

See how investing in a TFSA can help you achieve your financial goals faster.

Frequently Asked Questions

  • Once you have your TD EasyWeb access set up, you can open a TD Canada Trust TFSA through TD EasyWeb. You can apply online if you already have a TD Canada Trust chequing or savings account. Once your account is open, you can make regular contributions online.
  • Call us at 1-800-386-3757 if you want advice. Our Investment Specialists are ready to provide investment advice that aligns with your goals.
  • You could also visit a branch near you. We recommend booking an appointment ahead of time.

Every year, the government calculates how much TFSA contribution room you have available. You could log into the Canada Revenue Agency (CRA) website to view your TFSA contribution room in the "My Account" section.

If you withdraw funds from your TFSA, you can re-contribute the amounts you have withdrawn the following calendar year and you could carry forward your contribution room indefinitely.

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