TFSA Term Deposit

A registered investment account where members can deposit money for a determined length of time at a guaranteed rate of return.

Cost Savings/Earnings: Expand/Collapse

"You will benefit from earned interest, which won't be taxed."
- Interest earned in a TFSA is not taxable.

"At maturity you are not taxed when you withdraw from this account."
- Tax-free withdrawals.

Growth: Expand/Collapse

"You know what your growth will be."
- Competitive, premium rates.

"Your rate of return is guaranteed."
- Guaranteed rates until maturity.

Affordable: Expand/Collapse

"You can start with a small amount."
- No minimum required.
- Maximum contribution limit is $6,000 per year.*

Flexible: Expand/Collapse

"You have many different options to choose from."
- Terms available for 12 to 71 months.
- Annual interest.

"You can start to contribute to a TFSA at age 18."
- No age maximum.
- Minimum age of 18 years old with a valid social insurance number (SIN).

"You can carry over the unused amount to future years."
- Carry-over amounts do not expire and accumulate year to year.*

"If you withdraw your investment at maturity you can reinvest that amount in future years."
- Withdrawal amounts can be reinvested in following year(s).

Peace of Mind: Expand/Collapse

"You can rest assured knowing your money is safe."
- Deposits fully guaranteed by Credit Union Deposit Guarantee Corporation.

Additional Information:

*Regarding your maximum deposit limit per year, you may have carry-over room available from previous years. Contact the Canada Revenue Agency (CRA) for more details.

- Contributions are not tax deductible.
- Over-contribution is subject to a 1% per month penalty until withdrawn.
- View TFSA rates.

Who might benefit from this product/ service?

Any person 18 years of age or older with a valid SIN who wants to save money tax-free with a guaranteed competitive rate of return.

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