Tax-Free Savings Account (TFSA)

Build your savings to help finance your projects

Sign in

 

Photo of a person watering their plants

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

Learn more

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

Learn more

Want to talk with us?

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

Make an appointment

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
Icon of a shining light bulb

 

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:

Family icon

Build a financial cushion

Your family

House icon

Buy a home

Your home

Plane icon

Travel

Your vacation

Which products should you hold in a TFSA?

Choose products based on your investor profile, transfer your savings and start earning interest tax-free.

Eligible products

Guaranteed Investment Certificate (GIC)

Grow your savings and protect your initial investment.

See our GICs

Managed solutions and investment funds

Trust our team of experts with your savings.

See our managed solutions and investment funds

Self-directed investments

Take an active role in managing your investments.

Discover National Bank Direct Brokerage

Cash Advantage Solution

Enjoy ready access to your money and get a competitive interest rate.

See Cash Advantage Solution

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

Telephone icon

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

Picto of a question mark in a circle

Find answers

Member of Canada Deposit Insurance Corporation (CDIC)

Logo of CDIC
Back
Terms of use
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:

  • The Chatbot does not provide financial advice or financial planning services.
  • The Chatbot does not conduct any banking transactions.
  • 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.
  • The Chatbot is not a complaint service. You cannot use the Chatbot to file complaints. If you have any complaints, you can contact us at the number indicated above.
  • We monitor, record and store the discussion that you have with the Chatbot to improve our interactions with our clients.
  • You will not provide the Chatbot with any confidential, personal, or private information. For example, you will not provide the Chatbot with your login information, PIN or other personal banking information.

2. Limitation of Liability

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:

  • Any delay, error, interruption or omission on our part or any other event beyond our control.
  • Any deficiency or technical error or any unavailability of our systems and wireless networks.
  • Your failure to meet any of your obligations.
  • Any amendment to or suspension, refusal or blockage of the Chatbot.
  • Any decision or measure you take in response to information and data obtained via the Chatbot.
  • Any other damages you may incur that are not caused by negligence on our part.

3. Language

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

4. Governing Law

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.

Virtual assistant