Save for Anything with a Self-Directed TFSA

Benefits of a TFSA

Access your money at any time for any reason

Carry forward unused contribution room indefinitely

Contribute for as long as you want—no age limit

Numbers to Know

$0

Canadian taxes you’ll pay on TFSA earnings and qualifying withdrawals^{Legal Disclaimer footnote 1}

$7,000

2026 TFSA contribution limit

$109,000

Maximum lifetime contribution limit^{Legal Disclaimer footnote 2}

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way to invest.

Introducing GoSmart by RBC Direct Investing, designed for new investors and built to make investing easy.

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Investments You Can Hold in Your TFSA

Enjoy total freedom to research and pick the investments that meet your needs.

Stocks

ETFs

Mutual Funds

GICs

Bonds

Options

Explore Investments

Why Choose a Self-Directed TFSA at RBC Direct Investing?

Expand your investing knowledge with resources designed to help you take control:

Find in-depth guides on the TFSA and other topics like stocks, options and more in the Investing Academy
Learn the basics you need to build your strategy with the Investor’s Toolkit
Watch educational videos and demos to see how to use our powerful trading platforms

Filter and choose investments using:

Powerful screeners, market research and analysis, and more (Trading Tools and Investment Research)
Economic insights on current events that could impact your investments

Automatically reinvest dividends^{Legal Disclaimer footnote 3} you earn from your equity investments
Set up pre-authorized contributions to add money to your TFSA automatically and then invest it how you want
Use the RBC Mobile^{Legal Disclaimer footnote 4} app to act fast on opportunities

Receive guest access to our Online Investing platform with a risk-free Practice Account^{Legal Disclaimer footnote 5}. It’s a great way to practice buying and selling different investments before investing your own money. Free for RBC Online Banking and Direct Investing clients.

Note: Practice TFSAs are not available. However, you can open a Practice Account as a cash, margin or RRSP account and still experience what it's like to trade online.

Enjoy benefits like real-time streaming quotes^{Legal Disclaimer footnote 6} and pre-market and after-hours trading at no additional cost:

Pay just $9.95 commission per online trade with no minimum balance or activity.^{Legal Disclaimer footnote 7}
Use your Avion points for trade commissions or turn them into cash contributions.

Discover More About the TFSA

How Real People are Using Their TFSAs

What Investments Can I Hold in My TFSA?

TFSA or RRSP: How to Find the Right Fit

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Transfer $15,000 or more and we'll cover up to $200 in fees charged by your other brokerage.^{Legal Disclaimer footnote 8} (Up to $500 in fees reimbursed for Royal Circle and Royal Distinction members.^{Legal Disclaimer footnote 9})

TFSA FAQs

A Tax-Free Savings Account (TFSA) is a registered investment plan that lets your earnings (like interest, and ) from qualified investments grow tax-free. Invest for any goal—from a new car to retirement—and never pay any Canadian tax on qualifying withdrawals^{Legal Disclaimer footnote 1}

In 2024, the contribution limit is $7,000. You can make contributions throughout the year or in a lump sum. In addition to the annual contribution limit, your unused contribution room is carried forward indefinitely. Plus, withdrawals are added back to your contribution room the following year.

No, investment income and withdrawals are not included as income for tax purposes, which means they will not affect your eligibility for income-tested government benefits and credits such as the Canada Child Tax Benefit, the Canada Workers Benefit, the Guaranteed Income Supplement, Old Age Security (OAS) or the Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit.

You can hold a wide range of investments in your TFSA, including cash, guaranteed investment certificates (GICs), bonds, stocks, exchange-traded funds (ETFs), mutual funds and options. All investments held in a TFSA must be qualified investments.^{Legal Disclaimer footnote 1}

Images presented are for illustrative purposes and may not represent the actual web pages within the RBC Direct Investing online investing site.

Legal Disclaimer footnote

The Avion Rewards program is offered by Royal Bank of Canada and is subject to the Avion Rewards Terms & Conditions. You may only use your Avion points through RBC DI to: (1) pay for trade commissions on your eligible RBC Direct Investing accounts; or (2) transfer points for cash contributions to your eligible RBC Direct Investing accounts. It is your responsibility to make sure you have sufficient contribution room within your registered plan when redeeming points for cash contributions to your registered accounts and/or when you use your Avion points to pay for trade commissions on a registered account. The Canada Revenue Agency may apply tax penalties for overcontributions. RBC Direct Investing is not responsible for any such penalties.

Legal Disclaimer footnotes‡

All other trademarks are the property of their respective owner(s).

Legal Disclaimer footnote 1

Assets in a TFSA must be qualified investments under the Income Tax Act. If the TFSA holds non-qualified investments or carries on a business, it could be subject to Canadian tax. If the TFSA holds foreign securities (including U.S. publicly listed), it could be subject to withholding tax in the foreign jurisdiction.

Legal Disclaimer footnote 2

The maximum contribution room of $109,000 applies if you open your first TFSA in 2026, provided you were at least 18 years old, and a Canadian resident in 2009, and have remained a Canadian resident since then. If you have more than one TFSA, your contribution room is shared across all accounts. It is your responsibility to ensure that you do not exceed your contribution limit each year. If you over-contribute to your TFSA, you may have to pay a penalty tax.

Legal Disclaimer footnote 3

Dividends earned pursuant to DRIP may be subject to requirements imposed by the Income Tax Act (Canada). It is your responsibility to ensure that any associated tax requirements or obligations are satisfied.

Legal Disclaimer footnote 4

RBC Mobile is operated by Royal Bank of Canada, RBC Direct Investing Inc. and RBC Dominion Securities Inc.

Legal Disclaimer footnote 5

Practice Accounts are only available as cash, margin and RRSP accounts.

Legal Disclaimer footnote 6

Real-time streaming quotes are available automatically to all clients for exchange listed equities, ETFs and most over-the-counter (OTC) securities. Real-time streaming quotes for options and grey market OTC securities are available to all clients upon accepting the terms and conditions of all exchange agreements on the RBC Direct Investing online investing site.

Legal Disclaimer footnote 7

A commission fee of $9.95 (CAD or USD) per trade is applicable to Canadian and U.S equity trades placed online or via RBC Mobile, with the exception of trades eligible for commission-free trading. A lesser fee of $6.95 (CAD or USD) per trade applies when you complete 150 or more commission-paid Canadian or U.S equity trades per quarter online or via RBC Mobile. Additional terms and conditions apply. For complete details, including commissions on international trades or trades placed with an Investment Services Representative, visit Pricing or call 1-800-769-2560.

Legal Disclaimer footnote 8

Up to C$200 in transfer fees will be covered when you transfer C$15,000 or more to RBC Direct Investing from an investment account held at a financial institution that is not affiliated with RBC. Clients must provide proof of transfer fee payment to RBC Direct Investing within six months of transfer to be eligible for reimbursement. Please contact an RBC Direct Investing representative for more details at 1 800-769-2560.

Legal Disclaimer footnote 9

For Royal Circle and Royal Distinction members up to C$500 in transfer fees will be covered when you transfer C$15,000 or more to RBC Direct Investing from an investment account held with a financial institution that is not affiliated with RBC. Clients must provide proof of transfer fee payment to RBC Direct Investing within six months of transfer to be eligible for reimbursement.

Self-Directed TFSA

A Tax-Free Way to Save for Anything.

Benefits of a TFSA

Numbers to Know

$0

$7,000

$109,000

A new, smart way to invest.

Investments You Can Hold in Your TFSA

Why Choose a Self-Directed TFSA at RBC Direct Investing?

Learn and explore at your own pace.

Feel confident about the investments you choose for your TFSA.

Save for your goal by keeping your money at work.

Practice investing before investing real money in your TFSA.

Get more for your money with no-strings-attached pricing.

Discover More About the TFSA

Build Your Knowledge with Inspired Investor Trade

Open an account in minutes

TFSA FAQs

What is a TFSA?

What is the TFSA contribution limit?

Will TFSA contributions and withdrawals affect my eligibility for government benefits?

What kinds of investments can I hold in my TFSA?

A new, smart
way to invest.