CornerstoneCU - Tax Free Savings Accounts (TFSA)

A TFSA is more than a regular savings account.

TFSA's are a great way to save for both short and long term goals such as for a vehicle purchase, the vacation you have been dreaming of, and especially your retirement goals.

The annual TFSA limit for 2023 is $6,500 and the 2024 limit is $7,000. For full details about your contribution limit, please visit the CRA website.

Compare Options

You want to earn a higher rate of interest and have the freedom to access your funds if you need them.

Term Length	12 Months
Minimum Deposit	$1,000
Additional Deposits (through your Financial Advisor)*	Yes.
Automatic Renewal	Yes.
Redemption	Redeemable in full after 90 days without penalty - No interest paid if redeemed within first 90 days.
Withdrawals	Withdrawals can be made at any time after 90 days. Minimum withdrawal is $1,000. $1,000 minimum balance must be maintained.
Interest Paid	Monthly** or Annually into Investment or to a demand account.

*Conditions may apply. Speak to your Financial Advisor.

**Monthly interest offered at a reduced rate. Restrictions apply.

Are you wanting to save for your future? Or tuck away funds for that special occasion like a vacation? Our Easy Builder is a great option!

Term Length	12 Months or 18 Months
Minimum Initial Deposit	$100
Minimum Deposit	$1,000 to be reached at end of the 18-month term.
Additional Deposits	Pre-Authorized Credit Only - Conditions apply.
Pre-authorized Deposits	Yes. A minimum of $50 pre-authorized deposit must be set up.
Automatic Renewal	Yes.
Redemption	No.
Interest Paid	Annually into investment or to a demand account.

Lock-in your funds and earn a higher interest rate.

Term Length	12, 24, 36, 48, 60 months
Minimum Deposit	$1,000
Automatic Renewal	Yes.
Redemption	No.
Interest Paid	Monthly* or Annually into Investment or to a demand account.

*Monthly interest offered at a reduced rate. Restrictions apply.

The Variable TFSA is a cashable tax free investment with a competitive variable interest rate. This flexible investment allows you to deposit or redeem at any time.

No minimum balance required
Free deposits
Access to a portion or your entire balance at any time
Tiered interest rate
One free withdrawal per month - $5.00 per withdrawal after

What is a TFSA?

While many Canadians have Tax-Free Savings Accounts (TFSAs), there is still a lot of confusion around what they are actually for. Let’s clear up a common misconception: the TFSA is not designed to be just a simple cash savings account.

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RRSP vs TFSA

At some point in your life you have probably heard about an RRSP as well as an TFSA.

Let's explore the difference between the two.

Ways to Bank

Digital Banking

Our Digital Banking provides you with 24/7 online access to your accounts, allowing you to take care of your financial transactions - both personal and business - at your convenience.

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Mobile App

Our mobile app is available on iPhone and Android™ devices. With tons of convenient features, it's a fast and secure way to handle your everyday banking wherever and whenever works for you.

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Contact Centre

Enjoy the convenience of telephone banking with our friendly and knowledgeable staff, always ready to help on the other end of the line.

Branches & ATM

We love to see you walk through our doors. Stop by and let us help you! Or visit one of our ATMs for quick access to your funds anytime of the day or night.

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