Tax-Free Savings Account (TFSA)

Grow your savings to achieve your goals

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Open a TFSA

Are you already a National Bank client and have access to your online bank? Sign in and start investing today.

Open a TFSA from your online bank

Complete our secure online form to contribute to your TFSA.

Open an account

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Open a TFSA via our direct brokerage platform

Are you a self-directed investor? Complete our secure online form and contribute to your TFSA via your brokerage account.

Open an account

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Our team is always available to find the right solution for all your needs.

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At a glance

What is a Tax-Free Savings Account (TFSA)?

A TFSA is a government-registered account that allows you to grow your savings tax-free, whatever your annual income. You pay no tax on interest, income, or withdrawals.

Perfect if you are looking to:

  • Save for your medium- and long-term projects
  • Grow your money tax-free
  • Save for retirement beyond the RRSP contribution limit
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Save effortlessly with systematic savings. Your payments are automatically deposited into your TFSA. You can also access your online bank and contribute directly to an existing TFSA.

Save systematically

Minimum age to open an account

The age of majority, either 18 or 19, depending on the province*

TFSAs are offered to all Canadian residents who have reached the age of majority* and have a valid social insurance number (no maximum age).

* The age of majority per province:

18 years old: Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island

19 years old: British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia, Yukon, Nunavut, Northwest Territories

Tip

You haven’t reached the age of majority yet? Put your money in a high-interest savings account.

Annual contribution limit

$7,000

Your unused contribution room can be carried forward.

However, you begin earning contribution room from the age of 18, regardless of the age of majority in your province or territory.






 

Tip

Hit your contribution limit? Keep saving tax-free with an RRSP.

 

Perfect if you're looking to:

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Build a financial cushion

Your family

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Buy a home

Your home

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Travel

Your vacation

Our investment products for your TFSA

Grow your TFSA by investing your money in investment products that match your goals.

Cash Advantage Solution

Ideal for protecting your savings while benefiting from an interest rate that increases across different tiers.

Discover this solution

Guaranteed Investment Certificate (GIC)

Ideal if you’re looking for a secure investment that offers a pre-determined return.

Discover our GIC

Portfolio Solutions

Ideal for investing in a full, diverse ronge of mutual funds.

Discover our portfolios

Responsible investment

Discover our NBI Sustainable Portfolios and invest in a diversified turnkey solution that aligns with your values and financial goals.

Learn more

Other tax-free plans

RRSP

Save and reduce your annual taxable income, and you could save on taxes in the year you contribute.

Discover the RRSP

FHSA

The FHSA (Tax-Free First Home Savings Account) is a new savings account that will allow first-time homebuyers to save up for a home.

Discover the FHSA

RESP

Save for your children’s education and receive up to $12,800 in government grants.

Discover the RESP

Explore all our savings plans and learn how they differ from investments.

Discover our plans

Make the most of your savings with our expert advice.

Make an appointment

Little details that matter

Ready to start saving?

Talk to an investment specialist or choose a plan online.

Open your TFSA

Make an appointment

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1-888-270-3941
Monday to Thursday,8 a.m. to 6 p.m. (ET)
Friday, 8 a.m. to 5 p.m. (ET)

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National Bank’s virtual assistant

When using our Virtual Assistant Service (the "Chatbot"), you accept these Terms of Use, which are subject to change without notice. Furthermore, you agree to consult these Terms of Use from time to time and acknowledge that your continuing use of the Chatbot means that you have accepted any changes that may have been made. Your continued use of the Chatbot means that you’ve read, understand and agree to these Terms of Use, the Terms of Use for our website, our Online transaction services, and to our privacy policy. You also understand any other agreements that you have with us will continue to apply when you use the Chatbot.

1. Our Services and your responsibilities

The Chatbot is an automated service which is integrated into our online banking platform.

The Chatbot is preprogrammed to answer general questions concerning the use of our online banking platform solely for informational purposes. The Chatbot is not able to answer questions on personal monetary transactions or products you hold with us.

By using the Chatbot, you understand and agree that:

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  • The Chatbot may not be able to answer all your questions. Therefore, it may not be able to provide you with the information you require. You must judge whether the answer provided responds to your question accurately. In the case of uncertainty, a customer service representative would be happy to help you. You can call us toll free at 1-888-483-5628 or 514-394-5555.
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You acknowledge that we won’t be liable for any losses or damages that you may suffer as a result of your use of the Chatbot, including if the Chatbot is unavailable for any reason.

We cannot guarantee that the results obtained via the Chatbot will be accurate and reliable and that the answers provided will meet your expectations.

We will not be held liable for damages you incur as a result of:

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You have requested that these Terms of Use, and related documents be drawn up in English.

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These Terms of Use are governed and must be interpreted in accordance with the laws in force in the province or territory where you reside. If you reside outside Canada, the laws in force and the courts of competent jurisdiction are those of the province of Quebec.

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