Open Menu Login Open Menu TFSA (Tax-Free Savings Account) A TFSA (Tax-Free Savings Account) is a registered savings plan that lets you grow and withdraw your money, tax-free, making it a great option when saving for short and long-term goals. How does a TFSA work? You can think of a TFSA like a basket, where you can hold qualified investments that may generate interest, capital gains, and dividends, tax-free. Once you’ve opened a TFSA, you can contribute to the account at any time, and earn interest or returns, tax-free — unlike a non-registered savings account. What products can you hold in a TFSA? Your TFSA can hold a variety of income-generating investments, including cash (like a savings account), mutual funds, stocks, bonds, and GICs. The types of investments you can add to the TFSA can vary, depending on your reasons for investing and your risk appetite. How much can I contribute to my TFSA? When you contribute to a TFSA, it's important to be mindful of the TFSA contribution limit – the maximum amount that you can contribute to a TFSA in any given year. The annual TFSA contribution limit for 2021 is $6,000 and you can carry forward unused contribution room from previous years. Why invest in a TFSA? Comfort and convenience A TFSA offers you the flexibility to save for various short-term and long-term goals, usually, with easy access to your money depending on the type of investment you hold. Tax-free growth and withdrawals You pay no tax on any investment income you may earn in your TFSA and you can withdraw funds from a TFSA without paying tax. The higher the return potential on your investments, the faster your savings may grow, tax-free. Not just a savings account Your TFSA can hold a variety of qualified investments, including cash, stocks, guaranteed investment certificates (GIC's) and mutual funds. A flexible way to save If you withdraw from your TFSA, you don't permanently lose your contribution room. You can re-contribute amounts you have withdrawn in the following year (or years). Accounts that fit your goals We offer several TFSA investment options, suited to your needs, based on your investment goals and risk appetite. See which account may be right for you. TD Mutual Funds TFSA Gives you access to certain mutual funds offered through TD Investment Services Inc. Benefit from professionally managed mutual fund investments Flexible savings options through a Pre-Authorized Purchase Plan Great for: Investors comfortable with some risk. TD Canada Trust TFSA Gives you the option of investing in GIC’s while maintaining a High-Interest TFSA Savings Account Access to competitive interest rates to grow your savings tax-free Benefit from predictable returns Great for: Investors seeking reliable growth. TD GICs and Term Deposits Fully protects your principal, with the option to choose from fixed-rate or Market Growth GICs Access to a variety of GICs with different terms and features Earn a guaranteed rate of interest Great for: Investors who don't want to risk their principal. TFSA at TD Direct Investing Self-directed accounts Power to select your investments and take advantage of market opportunities in Canada and the US. Flexibility to hold a range of investment products in one account Great for: Investors looking to manage their investment strategy and portfolio. We can help you plan for the future Personalized investment advice We help you understand your options while working with you to build the right plan for your financial goals. The right options No matter what type of investor you may be, we’re ready with options to help you succeed. Convenience The advice you want, on your terms. Call us Monday to Friday from 8 am – 8 pm to speak to an investment specialist in English, French, Mandarin or Cantonese. TFSA Calculator See how investing in a TFSA can help you achieve your financial goals faster. Calculate now Articles and tips to help you get started TFSA vs. RRSP: What’s the difference? Should you invest in an RRSP or TFSA? Explore your savings and investing options by comparing the two and start saving for your future! How to maximize your savings Manage and maximize your savings with these simple saving tips. Automating saving and investing Learn more about our automated saving and investing options to help grow your savings with confidence. See more articles Ready to Invest? We can help! Book an appointment Meet with a TD Financial Advisor in person at a branch near you. Book now Give us a call Our Advisors ready to answer your questions and help you get started. 1-800-465-5463 Locate a Branch Use our branch locator tool to find a branch near you. Need to talk to us directly?Contact us Follow TD Twitter Facebook Instagram YouTube LinkedIn Privacy & Security Legal Accessibility CDIC Member About Us We're Hiring Ad Choices & Personalization Site Index