Here are some of the best TFSA interest rates, as of July 2014.
TFSA contribution room for 2014 is $5,500. The maximum amount that can be invested in a TFSA is now $31,000 (assuming that you have never contributed to a TFSA before).
Tangerine Bank (ING Direct Canada) offers $100 Bonus for new clients who open a TFSA account by July 31, 2014.
Also you get 2.5% interest until July 31, 2014 for new money deposited into your TFSA account.
Here are the steps to get the $100 Bonus and 2.5% interest rate:
- Enroll for ING Tax-Free Investment Savings Account using the Orange Key 41451118S1 (go to http://www.tangerine.ca/en/saving/savings-accounts/tax-free-savings-account/index.html to enroll)
- Make an initial deposit of $250. The bonus money will be deposited into your account.
To “clean up” your TFSA contribution room if you had many withdrawals or contributions during current year:
- - At the end of December 2013 withdraw (do not close the account!) all your TFSA deposits
- - in January 2014 you can contribute up to $31,000 without the stress of penalties.
Want to know how much you could be saving by investing in a TFSAs? Check out the Government of Canada’s TFSA calculator.
Do you want to establish or improve your credit rating?
One of the best No Fee Secured Visa credit card from Canada is offered by Home Trust Canada. And almost everyone is approved.
Here are the steps to apply for a No Fee Secured Visa Credit Card from Home Trust Canada:
- Download and print the Application Form – Home Trust Secured Visa No Fee
- Fill out the application form and get : no annual fee, free additional authorized user, and free insurance against theft and damages for 90 days from the date of purchase for most items.
- Mail the application and the security deposit cheque as instructed on the application form.