Tax-Free Savings Account (TFSA)

Tax-free savings account (TFSA)

Plan your 2020 TFSA contribution now

Contact an advisor – TFSA

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514-CAISSES (514-224-7737 This link will launch your default phone software.)
1-800-CAISSES (1-800-224-7737 This link will launch your default phone software.)

Exclusive offer available until December 31, 2019

Contribute to your TFSA and enjoy a special rate of 2.10%

The contribution amount will be invested in a regular term savings until January 2, 2020. On this date, it will be transferred to your TFSA savings account and the interests will be paid out to your chequing account .

The special rate will be higher than the current TFSA savings account rate of 1.00%*.

Benefits of a TFSA

TFSA contributions are a great way to save money tax-free for your short- and long-term goals.

Save for what you really want

  • Accumulate your savings tax-free. You donít pay any taxes on your investment income or on your withdrawals.
  • Withdraw your money whenever you want, penalty-free, depending on what type of investment you have.
  • Your contributions donít affect your eligibility for income-tested government benefits or credits.
  • $6,000 TFSA contribution for 2019
    If youíve already contributed to a TFSA and you withdraw from it during the year, the amount withdrawn will be added to your contribution room for the following year.
  • $63,500 Cumulative limit
    Your TFSA cumulative limit has increased every year since 2009 or since the year you turned 18.
  • 44% Percentage of Canadians with a TFSA
    You can contribute to your TFSA without even thinking about it by setting up automatic transfers.

Get the most out of your TFSA

How do contributions work?

To start accumulating contribution room, you must be a Canadian resident and at least 18 years old.

Years Annual limit Total
2009 to 2012 $5,000 $20,000
2013 and 2014 $5,500 $11,000
2015 $10,000 $10,000
2016 to 2018 $5,500 $16,500
2019 $6,000 $6,000

If youíve never contributed to a TFSA and youíve been eligible since 2009, your unused contribution room for 2019 will be $63,500.

Investment options for your TFSA

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  1. The interest rate will be higher than the TFSA savings account rate in effect at the time of purchase and will be fixed for the entire term. To qualify for the promotional rate, the money must remain invested until December 31, 2019. Desjardins reserves the right to end this promotion at any time without notice.

* Rates subject to change without notice.