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Types of TFSAs

Use this overview to compare Tax-Free Savings Accounts (TFSAs) and choose the investment options that are right for you.

At Vancity, deposits are 100% guaranteed. Protection provided by the Credit Union Deposit Insurance Corporation of British Columbia.

TFSA TypeOverviewKey Features

TFSA Jumpstart® High Interest Savings

Earn tax-free compound interest and withdraw your money at any time, with no minimum balance required.

  • Earn a premium rate of interest on every dollar saved
  • No minimum balance required
  • Contribute up to $5,500* per year
  • Access your money at any time with no penalty

TFSA mutual funds, stocks, and bonds¹

Enjoy tax-free investment income while growing your wealth with any combination of mutual funds, socially responsible investments, and stocks and bonds.

  • Choose from a range of TFSA-eligible mutual funds
  • Choose socially responsible options from IA Clarington Inhance
  • Access funds managed by CI Investments, Mackenzie Investments and Franklin Templeton Investments, and more
  • Purchase TFSA-eligible stocks and bonds

TFSA cashable term deposit

Get maximum flexibility with a 1-year term deposit that earns a competitive interest rate and lets you access your money at any time.

  • Minimum investment starts at $500
  • Access your money any time
  • Cash out in part or in full before 30 days and earn no interest
  • Cash out after 30 days and earn full interest on your investment amount

TFSA short term deposits

Invest your funds for less than a year, and still earn a guaranteed rate of interest.

  • Choose terms from 90 to 364 days
  • Minimum investment starts at $500
  • Cash out in part or in full before 30 days and earn no interest
  • The longer you keep your funds on deposit, the higher the rate of interest you generally earn

TFSA long term deposits

If you don’t need to access your funds during the term, you’ll typically earn a higher interest rate than a flexible term deposit.

  • Choose terms from 1 to 5 years
  • Earn a fixed, guaranteed interest rate for the full term
  • Minimum investment starts at $500
  • Interest is compounded annually
  • Accrued interest is tax free

TFSA escalating term deposit

This three-year investment offers an interest rate that escalates giving you the opportunity to earn more while keeping your investment safe.

  • Minimum investment starts at $500
  • Redeemable or convertible at each anniversary with full interest
  • Interest rates are guaranteed

Planet-Wise™ Index-Linked term deposit

Get market-linked returns and a guaranteed principal with this ESG-screened portfolio.

  • Invest for 3 or 5 years
  • Start investing with $1,000
  • For non-registered accounts, TFSA, RRSP, RRIF
  • Learn more

¹ Please read the Credential disclosure and mutual funds disclaimer.
¹ Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated. Credential Securities is a registered mark owned by Aviso Wealth Inc.

²Return is subject to a maximum cap. Ask us for more details.

* The Canada Revenue Agency has developed several questions and answers to explain the new provisions related to the TFSA dollar limit.