Reach your savings goals faster

Grow your money tax-free

Tax-free interest is calculated on your full daily closing balance and is paid monthly.

Hassle-free deposits

Set up a recurring transfer into your account for a faster, more convenient way to save.1 Money transfers from another CIBC personal bank account are free.

Contribute to your TFSA for life

Unlike a Registered Retirement Savings Plan (RRSP), you don’t have to close your TFSA at a set age. Plus, your unused TFSA contribution room doesn’t disappear in a year; you can carry it forward as long as you live.2

Access your money any time, for any reason

Make tax-free withdrawals3. You can re-contribute the amount you’ve withdrawn next year or later.

Tax free savings accounts at a glance

About the account

Interest rate:

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Monthly Fees4:

None

Minimum investment:

$25

2024 TFSA dollar limit:

$7,000

How do I qualify?

Investment calculator

Find out how much you can save with a TFSA.

Calculate your savings

Learn more about TFSAs

Find out more about TFSAs and their contribution rules

Find out more about the differences between TFSAs and RRSPs

Get a CIBC TFSA Tax Advantage Savings Account

I have a CIBC bank account

Open or contribute   to a CIBC TFSA Tax Advantage Savings Account. Opens in a new window.

I don’t have a CIBC bank account

Call us at 1-800-465-3863 Opens your phone app.

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