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

Roll on up with 4.90%* per year on a 1-year TFSA Redeemable GIC or a Canadian dollar 1-year redeemable, non-registered GIC.

Limited time offer ends on December 31, 2023. Terms apply.*

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.

Next steps

Already an HSBC Client?

If you're new to HSBC, please visit your nearest HSBC Branch.

Or call toll-free 1-888-310-4722

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 $500 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.
  • Ideal for small, short term investments
    You can start a 1-year TFSA Redeemable GIC with a minimum investment of $500.
  • Earn daily interest
    Interest is calculated daily, not compounded, and is paid at time of redemption2 or maturity.
  • 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.

    If you transfer all or part of your TFSA funds to another financial institution, a $75 fee will apply.

  • Protection for your deposits
    TFSA GICs are eligible for CDIC Deposit Insurance.

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

TFSA Redeemable GIC
Term length
Interest rate (min. $500)
1 year term only

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

TFSA Redeemable GIC
Term length
1 year term only
Interest rate (min. $500)

Redeemable on or after 90 days with no interest penalty. No interest paid if redeemed within 1-89 days. Interest is calculated daily, non-compounded and paid at time of redemption or at maturity.

Select Term Deposits and GICs booked through HSBC's Online Banking may be eligible for special pricing. Log on to Online Banking for more details.

Rates are subject to change without notice. For information and to confirm most recent rates, please contact any HSBC branch.

* Terms and conditions apply. All rates are as of December 11, 2023 and are subject to change without notice.

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. The annual contribution limit set to $7,000 CAD for 2024. This was previous set at $5,000 CAD for 2009 to 2012, $5,500 CAD for 2013 to 2014, $10,000 CAD for 2015, $5,500 CAD for 2016 to 2018, $6,000 CAD for 2019 to 2022 and $6,500 CAD for 2023. 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.

 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.

We may make changes to the Agreement governing Term deposits (TD)/Guaranteed Investment Certificates (GIC) from time to time, to reflect changes or requirements of the law, new features, and/or changes in business practice. If we do, before the changes take effect we will tell you where the current terms and conditions can be found on our website.

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.

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