Get an account that gives you daily interest, tax-free

CIBC TFSA Tax Advantage Savings Account®

Earn competitive, guaranteed interest^† on your deposits right away
Access your money anytime
Set up recurring deposits to grow your savings faster

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CIBC FHSA Savings

Coming soon! Save for your first home, tax free. The First Home Savings Account (FHSA) is coming to CIBC in 2023.

Learn more about the FHSA.

Reach your savings goals faster

Grow your money tax-free

Tax-free interest is calculated on your full daily closing balance and is paid monthly.

Hassle-free deposits

Set up a recurring transfer into your account for a faster, more convenient way to save.¹ Money transfers from another CIBC personal bank account are free.

Contribute to your TFSA for life

Unlike a Registered Retirement Savings Plan (RRSP), you don’t have to close your TFSA at a set age. Plus, your unused TFSA contribution room doesn’t disappear in a year; you can carry it forward as long as you live.²

Access your money any time, for any reason

Make tax-free withdrawals³. You can re-contribute the amount you’ve withdrawn next year or later.

Tax free savings accounts at a glance

About the account

Interest rate:

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Monthly Fees⁴:

None

Minimum investment:

$25

2023 TFSA dollar limit:

$6,500

How do I qualify?

You must live in Canada, be age 18 or older and have a valid Social Insurance Number (SIN) to open a TFSA. Contribution room accumulates beginning in the year in which you turn 18.