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Tax-Free Savings Account

Save and invest for your future with a TFSA from HSBC

Roll on up with 5.00% 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.*

Invest, save, and build your wealth with a Tax-Free Savings Account

For most Canadians, TFSAs are a great way to save and invest for the future. Your money can grow faster because income and capital gains accumulate tax-free.1

Plus, TFSAs encourage you to start and keep saving with no limits on withdrawals if you need to access your money. Contribution room increases each year.2

Ready to open a TFSA?

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Discuss your options

Benefits and features1,2

  • Earn money tax-free
    Income earned on deposits and investments is not taxed.1
  • Contribution room accumulates
    Unused TFSA contribution room can be carried forward indefinitely. For example, on January 1st, 2023, the total contribution amount for a Canadian resident who had never contributed to a TFSA would be up to $88,000, if the individual was 18 or older in 2009 and therefore had accumulated all the available contribution room since TFSAs were introduced.
  • Withdraw money without penalties
    You can take money out of your TFSA whenever you like, for whatever you like, with no taxes. The amount you withdraw can be placed back at the start of the following year.1
  • Flexibility and choice
    Choose from several different TFSA options – including mutual funds, individual stocks, GICs and more.

As of 2023, you can contribute:

  • Up to $6,500 per year or more (previous annual limits were $6,000 CAD from 2019 to 2022, $5,500 CAD for 2016 to 2018, $10,000 CAD for 2015, $5,500 CAD for 2013 to 2014 and $5,000 CAD for 2009 to 2012), plus
  • any unused contribution room from previous years, plus
  • the amount of any withdrawals made in previous years.

Annual maximums apply to all TFSAs you hold at all financial institutions and excess contributions are subject to tax, interest, and penalties.

The Canada Revenue Agency (CRA) will track your contribution room. Find your individual amount through the “My Account” function on the CRA website or call 1-800-267-8272 for full details on TFSAs.

Build the TFSA that’s right for you

HSBC offers a wide range of TFSA-eligible products to help you grow your wealth and save for the future.

HSBC Mutual Funds3

Maximize the long-term performance potential of your TFSA holdings with locally and globally diversified HSBC Mutual Funds. Not insured by the CDIC.

HSBC Managed Solutions

Benefit from broad diversification across asset classes and markets with the expertise of global portfolio managers who make the day-to-day investment decisions for you. Not insured by the CDIC.

Individual stocks, bonds, ETFs and more

Manage your investment of choice for your TFSA with HSBC InvestDirect4, our self-directed online brokerage. Access a wide variety of securities from major international markets and pay low trading commissions. Not insured by the CDIC.

Private Investment Counsel service5

A boutique, discretionary service designed for high-net-worth clients offering tailored solutions and specialized attention from HSBC's worldwide network of research analysts and money managers.


Savings and term products

Enjoy peace of mind with redeemable Guaranteed Investment Certificates (GICs), Term Deposits, and cash savings in your TFSA.

How to apply

Open a new TFSA

Open a mutual funds TFSA online with 

HSBC Wealth Compass

Open a new TFSA savings or term product, or speak to a representative about your options

Open a self-directed TFSA online with
HSBC InvestDirect

Already have a TFSA with HSBC?

Contribute to your existing TFSA savings account

Contribute to your TFSA mutual fund account online through HSBC Wealth Compass

What kind of investor are you?

No matter your personality or comfort level with investing, there’s an approach that’s right for you.

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