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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.
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 You can re-contribute the amount you’ve withdrawn next year or later.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:
RDS%rate[4].TASATF.Published(null,5000.0_-_24999.99_CAD_Balance,1,1)(#O2#)%
Monthly Fees4:
None
Minimum investment:
$25
2023 TFSA dollar limit:
$6,500
How do I qualify?
Get a CIBC TFSA Tax Advantage Savings Account
I have a CIBC bank account
I don’t have a CIBC bank account
Call us at 1-800-465-3863 Opens your phone app.