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Earning/Saving Potential
Lowest Fees
Best Perks
Average MER
See Issuer for Details
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Savings Account?
Yes
5.0 Genius Rating
0.0 (0) User Reviews

A Scotiabank TFSA is an easy way to take advantage of tax-free savings while investing with a trustworthy big bank. You’ll get a variety of options, including GICs (4 different types, in fact), mutual funds, portfolios, and cash savings accounts. You can also invest in stocks and bonds in your self-directed TFSA through Scotia iTrade.

Pros
  • Lots of investing options
  • 4 different types of GICs
Cons
  • Lackluster return on TFSA savings account
  • No special features and not much detail on the website
Provinces
ALL
Eligibility
  • Age of majority
  • Canadian citizen
Why You Want It
Grow your money tax free + Get plenty of flexibility for your investments.
Special Features
See Issuer for Details
Self-directed TFSA Platform
Scotia iTrade
Self-directed Base Fee
N/A
TFSA GICs List
  • Cashable
  • Non-cashable
  • Market linked
  • Personal redeemable
Self-directed Available?
Yes
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Portfolios?
Yes
TFSA Savings Account?
Yes
Min TFSA Savings Account Interest Rate
0.25%
Max TFSA Savings Account Interest Rate
0.25%
Promotion
N/A
Promotion End Date
N/A
Average Mutual Fund MER
See Issuer for Details
Investment Portfolios Fees
N/A
 
Average MER
N/A
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Savings Account?
Yes
4.7 Genius Rating
0.0 (0) User Reviews

A BMO TFSA can hold a variety of investment products, including GICs, stocks, ETFs, mutual funds, and cash savings accounts. So whether you prefer a hands-off or a DIY approach to investing, BMO may have an option for you though their various TFSA products.

Pros
  • Backed by a good reputation
  • Get guaranteed returns with BMO GICs
  • Keep your money accessible with a savings account
  • BMO InvestorLine for the DIY investors
  • Leave investing to the experts with mutual funds and portfolios
Cons
  • Low interest rate on the savings account
  • Make sure you know the applicable fees of certain investment products
  • Nothing special to set BMO apart from the big bank pack
Provinces
ALL
Eligibility
  • Age of majority
  • Canadian citizen
Why You Want It
Grow your money tax free + Get backed by the trusted reputation of a big bank.
Special Features
See Issuer for Details
Self-directed TFSA Platform
BMO InvestorLine
Self-directed Base Fee
N/A
TFSA GICs List
  • Redeemable
  • Non-redeemable
  • Income Builder
  • Market-linked
Self-directed Available?
Yes
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Portfolios?
Yes
TFSA Savings Account?
Yes
Min TFSA Savings Account Interest Rate
0.25%
Max TFSA Savings Account Interest Rate
0.25%
Promotion
N/A
Promotion End Date
N/A
Average Mutual Fund MER
See Issuer for Details
Investment Portfolios Fees
N/A
 
Average MER
N/A
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Savings Account?
Yes
4.6 Genius Rating
0.0 (0) User Reviews

RBC offers an impressive spread of TFSA investment options, appealing to hands-on and laid-back investors alike. If you prefer trading your money yourself, you can open a RBC Direct Investing TFSA. But if you prefer investing to be a bit more lowkey, you can choose to invest in TFSA GICs, mutual funds, portfolios, or even a registered savings account.

Pros
  • A big name you know and trust
  • Get guaranteed return with a wide variety of TFSA GICs
  • Take control of your investments with RBC Direct Investing
  • Invest in a professionally managed portfolio with RBC InvestEase
  • Open a TFSA mutual fund
Cons
  • High base rates for RBC Direct Investing
  • Low rates on GICs and the savings account
  • No current promotion for opening a RBC TFSA
  • Nothing much to separate it from the crowd
Provinces
ALL
Eligibility
  • Age of majority
  • Canadian citizen
  • Have a Social Insurance Number (SIN)
Why You Want It
Redeem RBC Rewards as contributions + Multiple client support options.
Special Features
  • Redeem RBC Rewards points towards contributions to your TFSA
Self-directed TFSA Platform
RBC Direct Investing
Self-directed Base Fee
$9.95
TFSA GICs List
  • Cashable
  • Non-cashable
  • Building Block
  • Market-linked
  • U.S Dollar
Self-directed Available?
Yes
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Portfolios?
Yes
TFSA Savings Account?
Yes
Min TFSA Savings Account Interest Rate
0.4%
Max TFSA Savings Account Interest Rate
0.4%
Promotion
N/A
Promotion End Date
N/A
Average Mutual Fund MER
See Issuer for Details
Investment Portfolios Fees
See Issuer for Details
 
Average MER
N/A
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Savings Account?
Yes
4.6 Genius Rating
0.0 (0) User Reviews

A TD TFSA gives you the flexibility to grow your savings tax-free while choosing from a wide range of investment options all under one roof. You can go the DIY route with TD Direct Investing and manage your own trades, or take a more hands-off approach with mutual funds, GICs, or even a simple savings account. That flexibility makes it easy to tailor your TFSA to your comfort level—whether you want guaranteed returns, a managed portfolio, or full control over your investments.

Pros
  • Backed by a name you know
  • Several investment options
  • DIY investment option for seasoned investors
  • Mutual funds available for hands-off investors
  • Keep your TFSA money liquid in a savings account
  • Get guaranteed returns with GICs
Cons
  • High base fee of $9.99 per trade for DIY investments
  • Low interest rate on TFSA savings accounts
  • Currently no promotion for signing up
Provinces
ALL
Eligibility
  • Age of majority
  • Canadian citizen
Why You Want It
Choose from several investment options + Trusted bank with expert help.
Special Features
See Issuer for Details
Self-directed TFSA Platform
TD Direct Investing
Self-directed Base Fee
$9.99
TFSA GICs List
  • Cashable
  • Non-redeemable
  • Market-linked
Self-directed Available?
Yes
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Portfolios?
See Issuer for Details
TFSA Savings Account?
Yes
Min TFSA Savings Account Interest Rate
0.4%
Max TFSA Savings Account Interest Rate
0.4%
Promotion
N/A
Promotion End Date
N/A
Average Mutual Fund MER
See Issuer for Details
Investment Portfolios Fees
N/A
 
Average MER
20%
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Savings Account?
No
3.7 Genius Rating
0.0 (0) User Reviews

Questrade is a discount online brokerage tool that not only offers Canadian traders the ability to embark on DIY investing journeys, but also offers a more laid-back robo advisor option through Questwealth. Whichever option you choose, you can opt to open a Tax-Free Savings Account (TFSA), which lets you grow your money without worrying about taxes.

Pros
  • Your money grows tax free
  • ETFs and stocks are low cost
  • Get guaranteed and tax-free return with a TFSA GIC
  • Mutual funds available
  • Let the pros do the work with Questwealth portfolios
  • Get $50 off commission fees OR $10,000 managed free for a year
Cons
  • No savings account available
  • GICs and bonds have high minimum investments of $5,000
  • Mutual funds are $9.95 a trade
Provinces
ALL
Eligibility
  • Canadian citizen
Why You Want It
Exclusive: Get $50 off commission fees + ETFs are always free to buy.
Special Features
  • Low cost investing
  • ETFs are free to buy
Self-directed TFSA Platform
Questrade
Self-directed Base Fee
N/A
TFSA GICs List
N/A
Self-directed Available?
Yes
TFSA GICs Available?
Yes
TFSA Mutual Funds?
Yes
TFSA Portfolios?
Yes
TFSA Savings Account?
No
Min TFSA Savings Account Interest Rate
N/A
Max TFSA Savings Account Interest Rate
N/A
Promotion
N/A
Promotion End Date
See Issuer for Details
Average Mutual Fund MER
See Issuer for Details
Investment Portfolios Fees
See Issuer for Details
 
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