Tax-Free Savings Account (TFSA)
Available through Peoples Trust
What is our Tax-Free Savings Account (TFSA)?
The Peoples Trust Tax-Free Savings Account (TFSA) is a registered investment account that allows your savings to grow tax-free. While contributions aren’t tax-deductible, the interest you earn is not taxed, making it a powerful tool for building wealth. A TFSA is a great complement to an RRSP with different tax benefits.
What you’ll get
- Interest earned is tax-free – funds can be withdrawn at any time without incurring tax penalties
- Great rate with interest calculated daily and paid monthly.
- No set-up, service or transfer fees
- No minimum deposit
Current Tax-Free
Savings Account Rate
1.20%1
Additional Information
- Eligible for deposit insurance offered by Canada Deposit Insurance Corporation (CDIC)2
- View your transactions online with convenient access to online banking.
- Easily transfer funds between linked accounts at other financial institutions
- Ability to designate a successor holder (except in Quebec).
- Contributions are subject to an annual limit and unused contribution room from previous years can be carried forward. Check your contribution room here.
- Income earned does not generally impact eligibility for government benefits and credits such as Old Age Security (OAS), Guaranteed Income Supplement (GIS), Employment Insurance (EI), Canada Child Benefit (CCB), or the goods and services tax / harmonized sales tax (GST / HST) credit. Learn more.
How to open an account
For existing Peoples Trust customers
You can use online banking to open your account.
For new customers
Start your online application here
Learn more
Account FAQs
Answers to common questions
Account Fees
Overview of applicable charges
Account Forms
Documents and applications
Account Terms & Conditions
Key policies and agreements
Take a look at other products
e-Savings Accounts
Start saving with no monthly fees and no minimum deposit.
GICs
Lock in a great rate for the full term of your investment.
1 Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
2 Peoples Trust is a trade name of Peoples Trust Company and Peoples Bank is a trade name of Peoples Bank of Canada. Peoples Trust Company and Peoples Bank of Canada are each members of the Canada Deposit Insurance Corporation (CDIC). Eligible deposits held in each entity are protected separately for up to $100,000, per insured category, per depositor. Learn more about CDIC coverage.