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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Tax-Free Savings Account
(TFSA)

Invest up to $5,500 a year without paying tax on the interest you earn.

Important TFSA features to note:

  • If you have any unused contribution room left from previous years, it is automatically carried forward. If 2014 is the first time you are contributing to a TFSA, you can add as much as $31,000 and grow your savings tax-free!
  • If you have previously withdrawn from your TFSA, you can re-contribute in the following calendar year.

Interest Rate

Up to $5,500.00* %
Over $5,500.00* %

* = Paid on the portion of the balance within each tier.

Rates are calculated on a per annum basis. Rates are subject to change without notice.

Features

  • Invest up to a maximum of $5,500 - or more if you have any unused contribution room left from previous year.
  • Complete access to your money any time tax-free (excludes debit card access)
  • No fees for contributions, withdrawals or transfers from this account
  • Eligible for CDIC deposit insurance up to applicable limits to protect your savings
  • Semi-annual or quarterly statements

Account Fees

  • You pay no fees on TFSA Savings Account transactions.

Rates are calculated on a per annum basis. Rates shown are subject to change without notice.

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