Tax-Free Savings Account (TFSA)

Open a TFSA, start saving today for tomorrow’s projects

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Open a TFSA

Already a client with access to your online bank? Sign in and start investing today. 

Open a TFSA in your online bank

Complete our secure online form to contribute to your TFSA.

Open a TFSA via our direct brokerage platform

Self-directed investor? Complete our secure online form and contribute to your TFSA via your brokerage account.

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Speak with an advisor to find a tailored solution for you.

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
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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.

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


You haven’t reached the age of majority yet? Put your money in a high-interest savings account.

Annual contribution limit


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.



Hit your contribution limit? Keep saving tax-free with an RRSP.


Perfect if you're looking to:

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Build a financial cushion

Your family

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Buy a home

Your home

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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


Save and reduce your annual taxable income, and you could save on taxes in the year you contribute.

Discover the RRSP


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


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

For information on fees related to TFSAs, refer to our Fee Guide.

For information on rate increases or our new fee notification procedure, refer to our Fee Guide.

Also see the procedure for settling complaints about TFSA fees.

See the new NBI TFSA agreement and NBC TFSA application form.

The elements presented in this text are given for information purposes only. These elements do not create any legal or contractual obligation for the National Bank and/or the entities of its group. You agree to validate the applicability and the advantageous nature of these elements with your advisor, accountant, tax specialist, or other tax planner, as the case may be.

© 2017 National Bank of Canada. All rights reserved. Any reproduction in whole or in part is strictly prohibited without prior written authorization.

Ready to start saving?

Talk to an investment specialist or choose a plan online.

Open a new TFSA

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Monday to Thursday,
8 a.m. to 6 p.m. (ET)
Friday, 8 a.m. to 5 p.m. (ET)

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