Maybe it is a vacation or possibly home renovations? whatever you may be saving for, we can help.  With this savings account, interest is calculated daily and credited on a monthly basis.  You maintain full access to your accounts, and yet your balance will grow.  You will receive one free transaction per $500 minimum balance, excluding Interac and Plus/Cirrus. This account is designed to help you save.

Tax Free Savings Account

We are preparing to offer a ground-breaking Tax-Free Savings Account (TFSA) to you in 2009.  The purpose of the TFSA is to provide a savings vehicle for individuals to earn tax-free investment income.

Features of the new registered product:

• Available to Canadian residents age 18 and older
• Contributions will not be tax deductible
• Contributions may only be made by the owner
• Income earned and capital gains under a TFSA will be tax sheltered
• Withdrawal of contributions and/or income will not be subject to tax
• Maximum contribution limit for 2009 will be $5,000
• Unused contribution room may be carried forward and contributed in a future year
• Withdrawals (capital and income) will increase the unused contribution room
• Unused contribution room will be reported on the annual CRA Notice of Assessment

For more information click here.