President's Choice Financial|accounts and products|savings and investments|tax-free investment options

strawberry Tax-Free Interest Plus^™ savings account

start saving tax-free with a high interest rate account!

Optimize your savings cash flow with the Tax-Free Interest Plus^TM savings account and pay no tax on interest earned*! You'll get a competitive interest rate, and anniversary bonus interest². Save for what you want today, tomorrow or in the future and use your money whenever you need it, for anything you want.

how you can benefit from the Tax-Free Interest Plus savings account:

every dollar of interest earned is tax-free
interest¹ is earned on every dollar, calculated daily and paid on a monthly basis
transfer your money at any time without tax penalty and use it for any purpose³
no fixed term and no minimum deposit to open your account

                                       
                                Contributions in excess of your personal contribution room will be subject to a 1% per month penalty tax.     
                                

You can check your balance and deposit money into your Tax-Free Interest Plus savings account 24 hours a day, 7 days a week through online banking, by phone or at President's Choice Financial or CIBC bank machines — all for free.

Questions? Visit our frequently asked questions page for more information.

...or, take advantage of the Interest Plus^™ savings account or the Interest Plus^™ RRSP.

* You will not pay income taxes on any interest amount earned. Contributions in excess of your personal contribution room will be subject to a 1% per month penalty tax.

¹Interest is calculated on each day’s closing balance and is paid into your account monthly.
² Anniversary bonus interest is based on the average of your daily closing balances over the year and is paid into your account the next business day after your anniversary date. For purposes of interest calculation, your first year starts from the account creation date and ends on the anniversary date, which is one calendar year after the account creation date.
³ Funds are not taxable even when withdrawn. Any withdrawals made from your account during the year will be added to your contribution room for the next calendar year (other than withdrawals to correct overcontributions). Transfers between your own Tax-Free Savings Accounts will leave your annual contribution room unchanged. The Tax-Free Interest Plus savings account is not eligible for withdrawals through bank machine or Interac^® Direct Payment transactions. A transfer fee applies if you transfer funds to another financial institution.

^®™ PC, President’s Choice, President’s Choice Financial, Interest Plus and Fresh Financial Thinking are trademarks of Loblaws Inc. CIBC a licensee of the marks.

^®Interac is Trademark of Interac Inc. CIBC authorized user of the Trademark.

^†President's Choice Financial services are provided by the direct banking division of CIBC. President's Choice Financial MasterCard is provided by President's Choice Bank