Savings Accounts
We all have financial goals. Some for this year, some for next year, and some for way down the road. Whether you’re saving for a home, a vacation, or to cover unexpected expenses,
invest with high-interest on cash savings or guaranteed investment certificates (GICs) in an account that doesn’t tax the growth on your money.
1.25% Tax Free Advantage Account rate
In your TFSA, taxes don’t take a bite out of the interest you earn. Every dollar grows tax-free, and you can withdraw your money tax-free
With a Meridian Credit Union TFSA, your money is eligible for deposit insurance through the Canada Deposit Insurance Corporation (CDIC).
There's no minimum balance required to start saving, no set-up or monthly fees, and no fees to deposit or withdraw money.
The money you take out of your TFSA is added to your contribution room the following year, so you can re-contribute what you took out.
Starting when you turn 18, your TFSA contribution room grows each year. Unused room is carried forward, and unlike an RRSP, there’s no maximum age to have a TFSA.
With our Tax-Free Advantage Account, there are no fees to open an account, make deposits, or withdraw funds. With Tax-Free GICs, there are redemption fees if you want to cash out before the investment term is complete. Redemption fees depend on market value adjustments and expense recovery fees.