A wide range of investments can be made in a TFSA, such as, mutual funds, securities listed on a designated stock exchange, Guaranteed Investment Certificates (GICs) and bonds.
Watch Investments Grow Tax-FreeWhatever investments you choose in your TFSA, you can watch these investments grow tax-free. For example, an individual contributing $200 a month to a TFSA for 20 years (assuming an average annual return of 5.5 percent) will accumulate about $11,045 more in savings than if the investment had been made in a taxable savings vehicle.
Learn more about what a TFSA might mean to you by using the online TFSA calculator.