TFSA Redeemable GIC

Grow your investment tax-free with an HSBC TFSA Redeemable GIC

Benefit from a 1-year fixed rate GIC and earn guaranteed interest tax-free1 while still having the option to redeem early. With a 1-year TFSA Redeemable GIC, you can redeem your funds any time on or after 90 days and still earn interest on your deposit.

Is a TFSA Redeemable GIC right for you?

An HSBC TFSA Redeemable GIC may be an ideal investment option if you:

  • Prefer a guaranteed return over a 1-year period
  • Want the flexibility of being able to redeem your investment prior to maturity 2
  • Have a minimum of $1,000 to invest
Features and benefits
  • Save faster
    The income earned on your investment isn't taxed. 1 That can make a big difference to how much – and how fast – you can save
  • Redeem your GIC any time you need to access your money
    TFSA Redeemable GICs are redeemable with interest if redeemed 90 days or more after the issue date2. You can access your funds if you need to, while still earning a guaranteed rate of return
  • Ideal for small, short term investments
    You can start a 1-year TFSA Redeemable GIC with a minimum investment of $1,000
  • Earn daily interest
    Interest is calculated daily, not compounded, and is paid at time of redemption2 or maturity
  • Protection for your deposits
    TFSA GICs are eligible for CDIC Deposit Insurance

Check today's rates to see how fast your money can grow

1 Only Canadian residents, who are over 18 years of age and have a valid Social Insurance Number, can make contributions to a Tax-Free Savings Account (TFSA). The age of majority is 19 for residents of Newfoundland & Labrador, New Brunswick, Nova Scotia, British Columbia, Northwest Territories, Yukon and Nunavut, which may delay the opening of a TFSA. However, the accumulation of contribution room will start at age 18. Annual contributions to TFSAs are subject to specific limits. Generally, the maximum contribution room for a year is equal to the total of unused TFSA contribution room from previous years, distributions (withdrawals) from TFSAs made in previous years and the TFSA dollar limit for the year in question. As of 2016, the annual TFSA dollar limit is $5,500 (previous annual limits were $5,000 for 2009 to 2012, $5,500 for 2013 to 2014, and $10,000 for 2015). The maximum annual contribution applies to all of your TFSAs held with HSBC or any other financial institution. The Canada Revenue Agency (CRA) will track your contribution room. The CRA reports this amount to individuals through the “My Account” function on the CRA web site ( Provided that contribution limits are not exceeded and contributions are made while the account holder is a resident of Canada, income earned in a TFSA is generally not subject to Canadian taxes. Taxes of other countries may apply. Excess contributions to your TFSA are subject to taxes, interest and penalties. Unlike an RRSP, any money you contribute to a TFSA will not itself be tax-deductible.

2 You can access your principal on or before 89 days, however, 0% interest will be paid.

The content herein is not intended to provide specific tax advice and should not be relied upon in this regard. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these services. For full details about TFSAs and how they relate to your own income tax and financial situation, please consult your personal tax advisor.

Canadian Deposit Insurance Corporation
Some HSBC accounts and deposit products up to certain dollar amounts are eligible for insurance under the Canada Deposit Insurance Corporation Act (CDIC). Learn more about CDIC and how CDIC Deposit Insurance works:
• Visit
• Read "Protecting Your Deposits." Visit CDIC to download a copy.
Please note some products, such as foreign currency accounts, are not eligible for CDIC Deposit Insurance.

Earn tax-sheltered income with a flexible TFSA Term Deposit from HSBC

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