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Are you already a Zag client? Or are you opening your first Zag account?

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Download our Mobile App

You need to have a Zag Bank account before you can download the Zag mobile app. To open an account, click here.

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Zag Tax-Free Savings (TFSA)

Everyone has different goals for saving money and a Zag Tax-Free Savings account can help you reach them sooner. Save up to $5,500 every calendar year in this self-serve account without paying tax on the interest you earn. And since you can open, access and manage your account from any device, it’s a great way to save for the future.

It’s also good to know you can:

  • get a great rate that stays high interest with no conditions attached
  • grow your balance with our Set and Save option
  • deposit from your phone or tablet using our SnapCheque technology
  • open an account in less than 10 minutes
  • earn interest on your account - calculated daily and paid monthly
  • manage your account easily using Mobile or Online Banking

The maximum amount that you can contribute to your TFSA is limited by your TFSA contribution room. You can learn more on the Canada Revenue Agency website.

’No fees’ means you save your money— all of it.

What you get Fee
Account opening and closing Free
Mobile and Online Banking Free
Online statements Free
Retrieval of past statements through Zag Bank Online Banking Free
Deposits by using SnapCheque or by mail Free
Transfers between your Zag Bank accounts Free
Transfers between a Zag Bank account to / from another Canadian bank account 1 Free
Pre-authorized transfers to a Zag Bank account (Set and Save feature) Free
Customized, automatic alerts and notifications Free

Please note that your other financial institution might charge for funds going out of your external bank account. 

Your Zag interest is calculated daily, at the end of the day, and paid monthly into your account on the last business day of the month. Interest will be calculated as soon as the funds are received by Zag Bank and deposited in your Zag savings account. The applicable interest rate is determined on the date on which Zag Bank deposits your funds to your Zag savings account.

The interest rate on your Zag savings account is subject to change at any time without prior notice at our sole discretion.