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Start saving today, tax-free!
Discover the ways a Tax-Free Savings Account (TFSA) can help you grow your savings:
- Pay no taxes on the interest or investment income you earn
- Contribute up to $5,500 a year
Tax-free savings accounts
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TFSA Savings and GICs
Earn guaranteed interest, tax-free
Grow your savings tax-free with the CIBC TFSA Tax Advantage Savings Account®. Or select one of our CIBC TFSA GICs – you’re guaranteed to keep what you invest while earning competitive interest on your money, tax-free.
Grow your savings, tax-free
CIBC TFSA Tax Advantage Savings Account®
Start reaching your savings goals today, no matter what you’re saving for.
- Earn RDS%rate[4].TASATF.Published(null,250000.0_and over_0.0_CAD_Balance,1,1)(#O2#)%* interest, tax free
- Withdraw your money anytime
- Set up recurring deposits to grow your savings faster
Access to your money when you need it – Cashable TFSA GICs
CIBC Flexible TFSA GIC™
This 1-year GIC lets you access your money at any time, with interest, if you redeem it 30 days or more after the issue date.- Access your money at any time
- Minimum investment of $500
- Simple interest is paid at maturity
CIBC Cashable Escalating Rate TFSA GIC™
With a CIBC Cashable Escalating Rate TFSA GIC, you deposit money with us for 3 or 5 years at guaranteed interest rates that increase each year1,2.- Access to your money on each anniversary date
- Minimum investment of $500
- Guaranteed competitive returns and rates that increase each year
CIBC TFSA GIC (Redeemable)
Enjoy a guaranteed fixed interest rate. Withdraw your money at any time at specific early redemption rates.- Option to cash out at any time
- Early redemption rates available
- Minimum investment of $500
Security and growth – Non-redeemable TFSA GICs
CIBC Escalating Rate TFSA GIC™
Competitive returns over a 3 or 5-year term, with increasing annual interest rates.- Guaranteed competitive returns and rates that increase each year
- Non-redeemable prior to maturity
- Minimum investment of $500
CIBC Bonus Rate TFSA GIC
Earn a premium interest rate above our regular rates on select terms (available periodically).- Variety of terms available on a time-limited basis
- Non-redeemable prior to maturity
- Minimum investment of $500
CIBC TFSA GIC (Non-redeemable)
Total security with guaranteed interest, plus full protection of your principal.- Terms ranging from 2 months to 5 years
- Non-redeemable prior to maturity
- Minimum investment of $500
Diversify your portfolio – Market Linked GICs (TFSA eligible)
CIBC Market Linked GICs
Take advantage of the growth potential of a market-linked return, but with full protection of your principal.- Market exposure with 100% principal protection2
- Potential for higher returns than traditional GICs based on market performance
- RRSP and TFSA eligible
- Earn RDS%rate[4].TASATF.Published(null,250000.0_and over_0.0_CAD_Balance,1,1)(#O2#)%* interest, tax free
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TFSA Mutual Funds
Mutual funds – a great option for your TFSA
When you put mutual funds in your TFSA, you pay no taxes on the investment income you earn. Choose from a wide array of CIBC mutual funds and find the right one for your TFSA.
- Low risk
- Steady level of income with focus on preserving capital
- Accessible anytime
- Low to medium risk
- Potential to generate higher income than savings funds
- Some capital growth over the long term
- Higher risk
- Long term investment
- Higher potential return than other asset classes
CIBC Portfolio Solutions
Save yourself the time and effort of constructing and monitoring your own portfolio by choosing one of our professionally managed portfolio solutions. Let our expert advisors help you find the right mix of investments for your TFSA.
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About TFSAs
What's a TFSA?
A Tax Free Savings Account (TFSA) helps you grow your savings without having to pay taxes on the interest or investment income you earn.
- Canadian residents, 18 and over, can invest up to the 2017 annual dollar limit of $5,500 and any unused contribution room from prior years can be carried forward year to year. This means from 2009 to 2017 you can save up to $52,000 – tax free!
- You pay no taxes on the interest or investment income you earn
- You pay no taxes on withdrawals from your TFSA
- You can re-contribute the amount of your withdrawal the following calendar year or any year after
- TFSA contributions are not tax-deductible, unlike RRSPs
- Choose from a wide selection of savings and investment products for your TFSA contributions. These include the CIBC Tax Advantage Savings Account and investments such as GICs, mutual funds and stocks
Get an account that offers daily interest, tax-free
CIBC TFSA Tax Advantage Savings Account®
- Earn interest on your deposits right away
- Access your money anytime
Why a TFSA?
A TFSA allows you to earn tax-free interest and investment income as you build your savings for the long, medium or short term.
Unlike an RRSP, which is not meant to be accessed until your retirement, a TFSA allows you to withdraw your savings if the need arises, without paying tax. Plus, you can re-contribute the amount of your withdrawal the very next year.
Speak with a CIBC financial advisor about how a TFSA can help you meet your savings and investment needs.
Or follow the link below and find out more about making the most of your TFSA.
Comparing TFSAs and RRSPs
Both TFSAs and RRSPs are integral pieces of a balanced portfolio. Find out more about these two important savings and investment options and how they can help you meet your goals.
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