No-Fee TFSA | CIBC Investor's Edge

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Illustration of a couple imagining their financial goals, including savings, education, travel, a car and sports.

Earn more with a TFSA

A Tax-Free Savings Account (TFSA) is designed to meet your short- or long-term financial goals.

Open an account

Make the most of your money by growing it tax-free with a CIBC Investor's Edge TFSA.
There's no annual administration fee, regardless of your balance, which means you can make the most of your savings.

Benefits of a CIBC Investor's Edge TFSA

You don’t pay tax on any income, dividends, or capital gains earned in the account.
Unused contribution room can be carried forward to future years.
You can withdraw money tax-free at any time, though some restrictions apply.
A wide range of investment options can be held in the account, including stocks, mutual funds, bonds, ETFs, options and GICs.
If you need to withdraw money, this amount is added on to your contribution room the following year, except if you withdrew to correct an over-contribution.

Contributions
- Any Canadian resident 18 years of age* and older with a Social Insurance Number can open and contribute to a TFSA. Contribution room is based on the TFSA dollar limit and accumulates each year, even if you do not file an income tax return, and unused contribution room from previous years is carried forward.
- TFSA contributions are not tax-deductible, but you won't pay tax on any income or growth earned within the account, even when you make a withdrawal.
- With a CIBC Investor's Edge TFSA, you can invest in the same wide range of investment options that are permitted in a Registered Retirement Savings Plan (RRSP), including stocks, exchange-traded funds (ETFs), options, mutual funds, bonds and more. Plus you'll pay our flat fee of only $6.95 per online equity trade¹.
- To make TFSA contributions even easier, you can set up a Regular Investment Plan - you tell us how much and when, and we'll automatically debit your bank account.
Withdrawals
- You can withdraw funds from your TFSA at any time, for any reason. Unlike an RRSP withdrawal, you do not have to add the withdrawal amount to your income for tax purposes. Amounts withdrawn will be added back to your TFSA contribution room in the following calendar year (unless you withdrew to correct an over-contribution).
- It's important to keep track of your contribution room to avoid over-contributing, especially if you're withdrawing frequently from your TFSA. The penalty from CRA for over-contributing is a 1% charge per month on the excess amount, until the over-contribution is withdrawn or you accumulate sufficient additional contribution room. You can look up your contribution room through My Account on CRA's website.

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Questions?

Earn more with a TFSA

Save with a CIBC Investor's Edge TFSA

Benefits of a CIBC Investor's Edge TFSA

Learn more