TFSA Savings Account Tax-free make. None of the take.
Open a TFSA to earn 2.75%* tax-free interest with flexible withdrawals and zero fees.
Get started![image of woman in turtleneck set atop EQ Bank logo](/images/default-source/hero/eq_tfsa_model_550x550_v1.png?sfvrsn=73b08dd3_5)
High interest? Win. Tax-free high interest? Win-win.
Benefits of an EQ Bank TFSA:
- Earn 2.75% tax-free interest*.
- Open a TFSA online. Zero paperwork or phone calls.
- Zero fees. Free and flexible withdrawals.
- Easy set-up of recurring contributions from your Personal Account or an external one.
- All deposits are eligible for (CDIC) protection†.
Want higher tax-free interest? Lock in a TFSA GIC.
Explore our other great rates and range of term options.
Contribution limit
$7,0001: the amount you can contribute in 2024—as a combined total of TFSAs held at all institutions.
Each year, unused contribution room carries over to the next year, going back to 2009 or the year you turned 18 (whichever came later).
![phone with $7,000 contribution limit and EQ Bank logo on screen](/images/default-source/hero/eq_tfsa_phonescreen_550x550_en_v1.png?sfvrsn=25d58dd3_8)
Lifetime contribution limit
If you've never contributed to a TFSA, and you were eligible to contribute since they were introduced in 2009, you can contribute a total of up to $95,000.
![circle graphic with $95,000 in center](/images/default-source/hero/eq_tfsa_95k_550x550_en_v1.png?sfvrsn=98d58dd3_10)
Is our TFSA right for you?
It’s right for you if:
- You’ve reached the age of majority in the province you reside.
- You need an all-purpose solution with the flexibility to save for many goals in one account.
- You expect to have annual contribution room that’s not based on your earned income.
- You want your savings to grow over time tax-free, with the ability to withdraw your money whenever you need it.
- You’re looking for an account that’s eligible for CDIC protection.
- You're looking for a completely digital banking experience.
It’s not right for you if:
- You don’t have available TFSA contribution room.
- You want to make tax-deductible contributions.
Sign up in a matter of clicks
Not yet an EQ Bank customer? No problem. Start by opening a Personal Account and then open a TFSA in minutes.
Get started by opening a Personal AccountIf you’re already an EQ Bank customer, you can open a TFSA from your web browser or mobile app in a few simple steps. Sign in
You can also easily transfer money from an existing TFSA to EQ Bank (learn more about making transfers).
Visit our FAQ for more details about TFSAs.