Build your savings faster, with flexibility in our TFSA

Most of us have lots of financial goals – some this year, some next year and some way down the road. Whether you’re saving for a large purchase like a home or a smaller purchase like a car or vacation, you can accumulate money more quickly in an account that doesn’t tax the growth on your investments.

Our TFSA lets you:

  • Earn interest tax-free
  • Access your money at any time without paying taxes
  • Build your savings in secure, protected investments

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Is our tax-free savings account right for you?

Yes, if you:

  • Are at least 18 years old
  • Want to earn a high rate of interest tax-free
  • Want flexibility to withdraw your money whenever you want, tax-free
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Benefits of a TFSA

TFSA investment options

Tax-Free Advantage Account1

  • No minimum investment 

  •  All deposits earn the same high interest rate

  • No set-up or maintenance fees

Guaranteed Investment Certificate (GIC):
1-year to 5-year term

  • $2,500 minimum investment

  • Can withdraw cash before maturity (subject to fees)

  • No set-up or maintenance fees

Rates and fees


Our TFSA offers a competitive interest rate on all your money.

Tax-Free Advantage Account

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Tax-Free Guaranteed Investment Certificates


1-5 year locked-in terms, interest compounded annually to maturity. Minimum $2,500 investment. Redemption prior to maturity is subject to market value adjustment and expense recovery fees.


Tax-free savings calculator

Figure out how much your money grow can grow with a TFSA, compared to taxable accounts.


Every Canadian over age 18 accumulates TFSA contribution room. Yours is the sum of this year’s limit, unused room from previous years, and any withdrawals made in previous years. Find out how much contribution room you have through the Canada Revenue Agency’s My Account website, MyCRA mobile app or Tax Information Phone Service at 1-800-267-6999.

No, unlike registered retirement savings plan (RRSP) contributions, the contributions you make to a TFSA are not tax-deductible. However, your money grows tax-free and, unlike RRSPs, you can take out your money tax-free at any time.

If you're already a Manulife Bank customer, you can open an TFSA online. Simply sign into online banking, then select open an TFSA in the left-side column. You'll be prompted to answer a couple questions, and your account will be set up right away.

If you don't have an account with us yet, you'll need to speak to your advisor. You can find an advisor here or send us an email with your request and your postal code and we'll help you find an advisor in your area.

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Build a secure future with a Registered Retirement Savings Plan (RRSP)

Get a tax-deduction for your eligible contribution and enjoy tax-deferred investment growth as long as your money remains inside your RRSP. When you’re ready to retire, you can withdraw your money – taxed at what will likely be a lower rate – to help support your retirement lifestyle.

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Finance your retirement lifestyle with a Registered Retirement Income Fund (RRIF)

Your money keeps growing tax-deferred as long as it stays within your RRIF. Every year, you must withdraw a minimum, taxable amount, which you can use to help pay living expenses in retirement.

Girl tablet on staircase.

Get flexibility with a high-interest savings and chequing account

Choose a combined savings and chequing account with a high interest rate and free unlimited everyday banking transactions as long as you keep a minimum $1,000 balance. Bank anytime, anywhere through online and mobile banking and access your money at more than 3,500 ABMs across Canada.