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The best TFSA GIC rates

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  1. Featured

    5.75%$288 total return based on$5,000 investment
    Term
    1 Year
    Type
    TFSA
    Minimum investment
    $1,000
  2. Featured

    5.50%$275 total return based on$5,000 investment
    Term
    1 Year
    Type
    TFSA
    Minimum investment
    $1,000
  3. Featured

    5.45%$273 total return based on$5,000 investment
    Term
    1 Year
    Type
    TFSA
    Minimum investment
    $100
  4. TD Bank

    5.35%$268 total return based on$5,000 investment
    Term
    1 Year
    Type
    TFSA
    Minimum investment
    $1,000

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The best overall GICs in Canada

FAQ

What is a tax free savings account?


How does a GIC TFSA withdrawal work?


Can any GIC be held in a TFSA?


Are registered GICs taxed?


Investing your TFSA

Investing within a Tax Free Savings Account (TFSA) can be a powerful strategy for Canadians looking to grow their wealth while minimizing taxes. TFSAs can be used as an investment account and your investment strategy within a TFSA should align with your overarching financial goals. Are you saving for retirement, a major purchase, or just building long-term wealth? 

 TFSAs offer a wide range of investment options, including:

  • Guaranteed investment certificates (GICs)
  • Bonds
  • Stocks
  • Exchange-traded funds (ETFs)
  • Mutual funds

Determining your financial objectives will help you select the right investment vehicle for your TFSA. 

It is also important to stay within your annual TFSA contribution limits. Over-contributing to your TFSA can result in penalties and tax implications. 

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