CIBC TFSA Tax Advantage Savings Account®

Get an account that offers daily interest, tax-free

CIBC TFSA Tax Advantage Savings Account®

  • Earn a competitive, guaranteed high interest rate
  • Earn interest on your deposits right away
  • Access your money any time

I have a CIBC bank account

Purchase or Contribute: a CIBC TFSA Tax Advantage Savings Account

I don’t have a CIBC bank account

Purchase with our help

Contact us to get started

By phone
Call Telephone Banking1 at 1-800-465-3863

In-person
Visit one of our branches

We’ll help you

  • Open a CIBC bank account so you can open a TFSA

Grow your savings with bonus interest

Make new deposits into a CIBC TFSA Tax Advantage Savings Account
and earn %* interest for a limited time.

Benefits

Saving couldn’t be easier

Grow your money effortlessly
  • Earn interest right away
  • Competitive interest rate on full balance
  • Interest is calculated on the full daily closing balance and is paid monthly
Reach your goals faster
  • Make automatic deposits to your CIBC TFSA Tax Advantage Savings Account to maximize your interest
  • No fees unless you transfer all or part of your TFSA funds to another financial institution, in which case a $100 fee will apply

Minimum Investment $25

Interest Rate with bonus: % on New Balances (limited time offer expires March 31, 2014)*

Terms Available: not applicable

I have a CIBC bank account

Purchase or Contribute: a CIBC TFSA Tax Advantage Savings Account

I don’t have a CIBC bank account

Purchase with our help

TFSA vs. RRSP

Determine the tax-free plan that’s right for you

TFSA
Tax-Free Savings Account

RRSP
Registered Retirement Savings Plan

Short-term goals Long-term goal, i.e. retirement
No tax deduction for contribution Tax deduction for contribution
Withdrawals are tax-free Withdrawals are taxable income
Withdrawals can be re-contributed in a later year Withdrawals made when you are no longer working will likely be taxed at a lower rate
Each calendar year, you can contribute up to the TFSA dollar limit for the year; unused contribution room can be carried forward. Each calendar year you can contribute up to your RRSP maximum contribution limit for the year; unused contribution room can be carried forward.

For details, see “Should You Contribute to Your TFSA or Your RRSP?”

I have a CIBC bank account

Purchase or Contribute : a CIBC TFSA Tax Advantage Savings Account

I don’t have a CIBC bank account

Purchase with our help
Questions?

Enter your question in sentence form, e.g.: What is a Tax-Free Savings Account (TFSA)?

Terms and Conditions

1 To buy through Telephone Banking or online, you need to have a CIBC bank account or CIBC GIC already.

* This is a combined bonus and regular annual interest rate paid on new deposits made to a CIBC TFSA Tax Advantage Savings Account. The bonus and/or regular rates may change at any time without prior notice. The regular interest rate is paid on the full daily closing balance. The bonus rate is earned only on new deposits and only on days when the new deposits result in a full daily closing balance that exceeds the closing balance on October 31, 2013 (the New Balance). Bonus interest rate offer expires March 31, 2014. Interest is calculated daily on each day’s final balance and paid monthly. Interest rates are subject to change. Other conditions apply.