Reach your savings goals faster

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

  • 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.

  • 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

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 You can re-contribute the amount you’ve withdrawn next year or later.

About the account:

  • Interest rate: RDS%rate[4].TASATF.Published(null,5000.0_-_24999.99_CAD_Balance,1,1)(#O2#)% + %rate[4].TASATF.Published(null,5000.0_-_24999.99_CAD_Bonus,1,1)(#O2#)% for a limited time
  • Monthly Fees4: none
  • Minimum investment: $25
  • 2021 TFSA dollar limit: $6,000

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.

Find out how much you can save with a TFSA by using our TFSA Calculator.

Learn more about TFSAs

Get a CIBC TFSA Tax Advantage Savings Account