Tax Free Savings Accounts
Maximize your savings and minimize your taxes with a Tax-Free Savings Account
Need some help finding the right investments for your goal?Go: Investment Selector
- Save for your child's post-secondary education
- Investment income tax-sheltered until withdrawn
- Can be supplemented with the Canada Education Savings Grant (CESG)
- Individual or family plans available
Learn more: Registered Education Savings Plans
- Earn guaranteed interest tax-free
- Funds can be withdrawn at any time
- Save for any goal: retirement, vacation, emergency fund, etc.
- Options include Savings Accounts, TFSA Mutual Fund, TFSA GICs
Learn more: Tax Free Savings Accounts
- Help save for long-term financial security of a person with a disability
- Investment income earned tax-free
- Contributions not included as income when paid out
- May be eligible for Canada Disability Savings Grant (CDSG)
Learn more: Registered Disability Savings Plans
- Save for any short- or long-term savings goal, whether it's a down payment for a home, a vacation, wedding, new car or other major purchase, or simply a rainy-day fund.
- Investment income earned your way
- Choose from any of the CIBC products and services offered
See our Ways to Invest section below to find the right solution for you.
Grow your savings with bonus interest
Earn % on new deposits for a limited time with the CIBC TFSA Tax Advantage Savings Account®
- Savings, income and growth funds
- Pool of funds managed by investment experts
- Diversification to manage risk
- Potential for long-term growth
Learn more: Mutual Funds
- Freedom from making day-to-day investment decisions
- Choice of portfolios to suit your investment objectives
- Managed and monitored by a team of investment professionals
Learn more: Portfolio Solutions
- Protects principal while earning competitive interest
- Short- or long-term investment
- Good for low-risk investors
- Good for beginner or experienced investors as part of a balanced portfolio
Learn more: Guaranteed Investment Certificates
- Combines protection and growth potential
- Guarantees full principal amount
- Interest tied to equity or commodity markets
- Fixed terms from 2 to 6 years
Learn more: Structured notes
Ways to Invest
Paul and Lydia: "We know we should be saving for our retirement, but we are unsure how to start. We need to learn more about investing so we can feel confident about our decisions. How can we start saving for our future without giving up the things we love today?"Read their story
TFSAs vs RRSPs when nearing retirement
Jamie Golombek discusses which is better when nearing retirement: TFSA or RRSP?
Top 10 Questions
Save for Retirement
Paul and Lydia: We know we should be saving for our retirement, but we are unsure how to start. We need to learn more about investing so we can feel confident about our decisions. How can we start saving for our future without giving up the things we love today?"
"Because you're young, you two are in a great position to start saving for your retirement," Paul and Lydia's advisor explains with enthusiasm. "You probably won't be retiring for another 30 or 35 years. With that amount of time, even small amounts contributed regularly can grow to a substantial amount."
He suggests Paul and Lydia start with the basics: a Registered Retirement Savings Plan (RRSP). Their contributions are tax-deductible and may even generate a tax refund that they can put back into their RRSP or use to pay down debt. In addition, all income and earnings are tax-deferred as long as the money remains in the plan.
Paul and Lydia agree with their advisor that to balance their other priorities it's best to start off small. They know how important it is to start investing as soon as possible to give their money more time to grow. With the help of their advisor, they have identified that they can set up a CIBC Regular Investment Plan for $100 a month and plan to increase the amount over time.
To help them choose appropriate investments, their advisor uses the CIBC Investment Selector. Based on their needs, their CIBC advisor will help them build a diversified investment portfolio with the right mix of safety, income, and growth.
Thanks to their regular RRSP contributions, Paul and Lydia are confident they are on the right track -- and they are still able to enjoy the things they love today. They're looking forward to meeting with their advisor again in a year's time - to review their progress to date and make any adjustments their plan might need.