Tax-Free Savings Account (TFSA) GICs
Available through Peoples Trust
What is a TFSA GIC?
Get convenience and flexibility with a Tax-Free Savings Account (TFSA) GIC while saving for future goals. The investment income you earn in a TFSA is tax-free making it a great multi-purpose savings tool for every stage of life and can be a great complement to your RRSP. GICs are locked in for the duration of their term and are non-redeemable prior to maturity.
What you’ll get
- Terms from 1 to 5 years.
- Rate is fixed and guaranteed for the full term of your investment.
- Interest earned is tax-free.
- No set-up, service, or transfer fees.
TFSA GIC Rates1
Term Length |
Rates |
|---|---|
| 1 year | 2.90% |
| 2 year | 3.00% |
| 3 year | 3.25% |
| 4 year | 3.25% |
| 5 year | 3.45% |
Additional Information
- Minimum deposit is $1,000.
- Monthly statement available online.
- Eligible for deposit insurance offered by Canada Deposit Insurance Corporation (CDIC).2
- 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 on the Canada.ca website.
- 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 customers
You can use online banking to open your account.
For new customers
Start your online application to open an account.
Take a look at other products
e-Savings Accounts
Start saving with no minimum deposit and withdraw your funds at any time.
RRSP GICs
Save for your retirement with great rates and guaranteed growth.
Learn more
Account FAQs
Account Fees
Account Forms
Account Terms & Conditions
1 These rates are provided for information purposes only and are subject to change without notice. However, once you’ve purchased your GIC, your rate is guaranteed. Certificates are non-redeemable prior to maturity.
Interest is calculated daily and accrues for the entire GIC term. For GICs that have a term of:
- 1 year or less: interest is paid at maturity.
- 15 months: interest compounds annually and is paid at maturity.
- 2 years or more: you can choose to have interest paid on the anniversary date or compound annually and be paid at maturity.
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.