Top of main content

Tax-Free Savings Account

Save and invest for your future with a TFSA from HSBC

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.1

Ready to open a TFSA?

Invest online with advice

Best Robo Advisory Experience – 2021 Digital CX Awards, presented by The Digital Banker

Best Robo Advisory Experience – 2021 Digital CX Awards, presented by The Digital Banker*

Self-directed3

Discuss your options

Benefits and features

  • 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, 2022, the total contribution amount for a Canadian resident who had never contributed to a TFSA would be up to $81,500, 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 2022, you can contribute:

  • Up to $6,000 per year or more (previous annual limits were $6,000 CAD from 2019 to 2021, $5,000 CAD for 2009 to 2012, $5,500 CAD for 2013 to 2014, $10,000 CAD for 2015 and $5,500 CAD for 2016 to 2018), 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.1

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 Funds2

Maximize the long-term performance potential of your TFSA holdings with locally and globally diversified HSBC Mutual Funds. 

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.

Individual stocks, bonds, ETFs and more

Manage your investment of choice for your TFSA with HSBC InvestDirect3, our self-directed online brokerage. Access a wide variety of securities from major international markets and pay low trading commissions.

Private Investment Counsel services4

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.

Listening to what you have to say about services matters to us. It's easy to share your ideas, stay informed and join the conversation.