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Tax-Free Savings Account (TFSA)

A flexible, tax-free way to save and grow your money.

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With an Outlook Financial Tax-Free Savings Account (TFSA), you can earn interest on your High-Interest Savings Account for accessible funds or invest in fixed-term GICs to grow your savings over a set period.

As a registered account in Canada, a TFSA helps you keep more of your earnings while your money grows tax-free.

Why open a Tax-Free Savings Account?

  • Tax-free growth: Contributions, interest and withdrawals are all tax-free. 
  • Flexible access: Withdraw as much or as little as you want, anytime, for any purpose. 
  • Variety of investment options: Hold High-Interest Savings Accounts and GICs in your TFSA. 
  • Accessible for all Canadians: Open a TFSA if you’re over 18 years of age with a valid SIN, no maximum age limit. 
  • Protect your benefits: Withdrawals and income do not affect eligibility for federal income-tested benefits, including OAS, GIS or EI. 

A TFSA is one of the most flexible and tax‑efficient ways to grow your savings at any stage of life. 

Benefits of Outlook Financial’s TFSA

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Flexible ways to save

Choose from high-interest savings or GIC options within your Tax-Free Savings plan to match your savings goals and timeline. Both options allow you to grow tax-free earnings while keeping your savings aligned with short- or long-term plans.

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Strong, competitive rates

Your money grows faster with Outlook’s consistently competitive interest rates.

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Guaranteed protection

Your deposits and earned interest are fully guaranteed by the Deposit Guarantee Corporation of Manitoba (DGCM).

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Convenient digital access

Check balances, transfer funds and manage your investments easily through secure online and mobile banking.

TFSA contribution rules

  • Contribute up to the annual limit ($7,000 in 2026).
  • Unused contribution room rolls over to future years.
  • Withdraw funds anytime, unless held in a locked GIC.
  • Re-contribution rules: withdrawn amounts can be re-contributed in future years, or immediately if you have available contribution room.

For more information about TFSA contribution rules, visit the Canada Revenue Agency’s Tax Free Savings Account page

How do I open a Tax-Free Savings Account?

New to Outlook Financial?

Your membership starts here.

To start saving and investing with a Tax-Free Savings Account, you’ll first need an Outlook Financial membership. Your membership begins with a High-Interest Savings Account (HISA), which acts as the foundation for transferring funds and holding your registered or investment products. Once your HISA is open, you can open your TFSA and begin contributing or purchasing TFSA GICs to grow tax-free savings.

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For existing members

If your an Outlook Financial member, open a TFSA is simple!

1. Complete the TFSA Application Form. We’ll open your TFSA plan within 2 business days of receiving your application.

2. Once opened, contribute to your TFSA savings account or purchase a TFSA GIC using our online Deposit Form.

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For existing members

If you’re an Outlook Financial member, opening a TFSA is simple! 

1. Complete the TFSA Application Form. We’ll open your TFSA plan within 2 business days of receiving your application.
2. Once opened, contribute to your TFSA savings account or purchase a TFSA GIC using our online Deposit Form.
3. Use secure online and mobile banking to manage your TFSA—check your balance, set up transfers, and stay on top of your savings.

Helpful Resources for Your TFSA

Take full advantage of your Tax-Free Savings Account with tools and information designed to help you save, invest, and manage your money with confidence. Explore the links below for easy access to forms and resources that support your savings goals. 

Find out how to transfer in your TFSA

Transfer an existing TFSA

Buy a Guaranteed Investment Certificate

Invest in a TFSA GIC

Manage your beneficiary and successors

Update your TFSA beneficiary and successors

Estimate your tax free savings

Tax-free savings calculator