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Online appointment booking

A quick, easy, and secure way to connect with a Scotiabank advisor matched to your needs.

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Have a question?

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To qualify for the Offer:

  1. Open your first eligible RRSP or TFSA between December 1st, 2021 and January 31, 2022;

  2. By March 1, 2022, contribute or transfer-in a minimum of $3,000 across your first eligible Investment Plan(s) and maintain that minimum amount until April 30, 2022;

  3. By January 31, 2022, set up a monthly recurring pre-authorized contribution (PAC) of at least $100 in any one of the eligible Investment Plan(s) which must have recurred monthly for a minimum of 3 consecutive months by April 30, 2022.

Following the satisfaction of the above and all other Terms & Conditions, the $150 cash bonus will be paid into your eligible Investment Plan by June 30, 2022

See our terms and conditions‡ for the full details

Tax-Free Savings Account (TFSA)

Grow your money tax-free and take it out whenever you want without penalty. 1

Special offer

For a limited time, earn $150‡ on your first eligible TFSA

Why invest your money in a TFSA

A TFSA is a flexible way to grow your money. You can use it to save for your short and long-terms goals, such as retirement, a car, vacation, wedding, buying a home, or going to school.

What is a TFSA?

A TFSA is an all-purpose savings account that offers the flexibility to save for many goals in one account. Your savings grow over time tax-free, and you can withdraw your money whenever you need it.

How do you invest inside a TFSA?

Your TFSA is a registered account that can hold a variety of savings and investment products within that account, such as cash, GICs, mutual funds, and even stocks and bonds. 

What about contribution limits?

Every year you gain contribution room in your TFSA. As of January 2020, you can contribute $6,000 annually in your TFSA, plus any unused contribution amount you may have accumulated. However, it’s important to make sure you don’t over-contribute. 2

TFSA FAQs See more TFSA FAQs

TFSA contribution amounts

Year Amount Total
2009 $5,000 $5,000
2010 $5,000 $10,000
2011 $5,000 $15,000
2012 $5,000 $20,000
2013 $5,500 $25,500
2014 $5,500 $31,000
2015 $10,000 $41,000
2016 $5,500 $46,500
2017 $5,500 $52,000
2018 $5,500
$57,500
2019 $6,000 $63,500
2020 $6,000
$69,500
2021 $6,000
$75,500

If you were 18 or older* in 2009, have been a tax resident of Canada and opened a TFSA in 2021, you could contribute up to $75,500.

Refer to TFSA FAQs for additional information


The Investment Companion Booklet includes important information about our products, services, and fees.


Building your TFSA

ScotiaFunds® Portfolio Solutions

Our Portfolio Solutions offer a diversified mix of mutual funds in the convenience of single investment to help you grow your savings while carefully managing risk.  Whether you are seeking regular income or long-term growth, there’s a portfolio solution designed to help you achieve your goals.

Mutual Funds

Mutual funds deliver instant diversification and professional money management in a cost-effective and convenient solution.

Special Offer

Savings Accelerator Account

For a limited time, earn 1.30% interest on new deposits into your RRSP or TFSA.

Guaranteed Investment Certificates (GICs)

A worry-free investment product that keeps your principal investment safe and has a guaranteed rate of return.

Build a plan for your future with Scotiabank

Get personalized advice from our team of advisors and investment specialists across Canada. 

Connect with us in a way that’s convenient for you. Scotia advisors are available in every branch to help you understand, plan, and execute the right financial plan.

Monitor your investments digitally with online and mobile banking. Our digital banking guides show you how to take care of your banking using your mobile phone, tablet, or computer.

Open a TFSA

Start growing your money tax free with our TFSA options. 

scotiabank branch

Online appointment booking

A quick, easy, and secure way to connect with a Scotiabank advisor matched to your needs.

scotiabank advisor

Have a question?

We’re ready to give you advice.