The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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The best GIC rates in Canada for 2026 Apr 27th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
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The best GIC rates in Canada for 2026 Jul 22nd
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
We’re 10 years apart. Can we retire together? + MORE Feb 25th
Ask MoneySense
My wife and I plan to retire at the end of 2027. I am 63 and my wife is 53. All our investments are split 50/50 between RRSPs and LIRAs for a total of about $1,450,000. We anticipate needing about $110,000 a year after tax in retirement. We have a line of credit, and we are paying it .... More »
TFSA contribution room calculator
– moneysense.ca
Tax-free savings accounts (TFSAs) are one of the most popular tools for retirement savings. Since you contribute funds that you’ve already paid taxes on, you’ll enjoy tax-free growth. However, the government places limitations on how much you can contribute every year and overall. This is known as your contribution room, or limit.
Check out our contribution room calculator to see where you stand with your TFSA contributions:
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What is a TFSA?
A TFSA is a savings account that acts like an investment account, which generates tax-free income. Qualified investments include cash, guaranteed investment certificates (GICs), mutual funds, exchange-traded funds (ETFs), bonds, and stocks. The government oversees TFSAs, but banks and financial institutions administer them.
There are three types of TFSAs you can open:
Deposit TFSA: This is what most people think of when they consider a TFSA. A bank or credit union holds the savings account or GIC and you make deposits…
