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How much can you save using a tax-free savings account (TFSA)?

How much can you save using a tax-free savings account (TFSA)?

Calculate your tax savings when you use a tax-free savings account.

 

One of the main benefits of a tax-free savings account is that the interest you earn on your contribution is tax-exempt!

 

Make the most of your tax savings by investing your TFSA in a term deposit investment product. For instance, with our Enhanced Growth Term Deposit, you could earn up to 22% over the next five years (that’s the cumulative possible maximum return). Now do the math on that!

 

Use the TFSA calculator to determine your tax savings.

 

 

  • The amount of funds in a pre-existing TFSA account (if available)

  • Monthly contribution you had in mind

  • Annual rate of return

Calculate

 

The Legal Stuff:

Rates are updated daily and subject to change without notice. These calculators are made available to you as tools for independent use and are not intended to provide investment advice. Book an appointment at your nearest branch to seek personalized advice from qualified professionals for all personal finance issues, aligned to your personal situation.

Total contribution limits from the introduction of Tax Free Saving Accounts in 2009 through 2017 should not exceed $52,000.