Enjoy a high interest rate and flexibility
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
Is our Tax-Free Advantage Account right for you?
Yes, if you:
- Are at least 18 years old
- Want to invest within a TFSA
- Don’t want your money locked-in
Benefits of a TFSA
Our Tax-Free Advantage Account offers a high interest rate on all your money:
With our Tax-Free Advantage Account, there are no fees to open an account, make deposits or withdraw funds. Other services and fees include:
|Transferring money from your account at another financial institution||no charge|
|Mail in a cheque||no charge|
|Transferring money to your account at another financial institution||no charge|
|Registered fund transfer||no charge|
Additional services such as an Official Cheque (in lieu of a certified cheque) are also available. Please review our Services and Fee Guide for a complete list of all services and associated fees.
All fees are presented on a per item basis, unless otherwise stated.
1The variable annual interest rate is applied to all funds in the account. Interest is calculated daily on the total closing balance and paid monthly. Rate is subject to change.
2Individual tax situations and tax deductibility will vary. Tax laws are subject to change and therefore, tax treatment of Manulife Bank products cannot be guaranteed. Clients should consult their own tax and legal advisors with respect to their particular circumstance.
Manulife Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means your deposits are eligible for CDIC deposit insurance protection. Visit cdic.ca for information on eligible deposits.
There are three ways you can deposit money into your Tax-Free Advantage Account. You can link an account from another bank and transfer funds, you can mail us a cheque, or you can ask your advisor to make your deposit for you. There are no fees for deposits.
There are two ways you can withdraw money from your Tax-Free Advantage Account. You can link an account from another bank and transfer funds or you can ask us to write you a cheque. There are no fees for withdrawals.
We will send you a statement every six months, listing all your transactions during the period. You can choose e-statements or paper statements. There are no fees for either type of statement.
Registered advantage account
Reduce investment ups and downs and keep your money accessible within your registered retirement savings plan (RRSP). The Registered Advantage Account has no minimum investment, and no fees for set-up, maintenance, deposits or withdrawals. Keep in mind that withdrawals from an RRSP are taxable so we may withhold an amount for taxes when you withdraw.
Retirement Income Advantage Account
Convert your retirement savings into a steady stream of income to help support you in retirement. Held within your registered retirement income fund (RRIF), the Retirement Income Advantage Account has no fees for set-up, maintenance or withdrawals.
Get a high interest rate with guaranteed investment certificates (GIC)
If you don’t need to access your money in the near future, consider a short-term deposit or long-term GIC. Choose a term between 30 days and 5 years – in general, the longer the term, the higher your interest rate.