Guy with a new car

Zag TFSA

 

Zag Tax-Free Savings

A Zag Tax-Free Savings account is a great way to help your money grow without committing to a specific term. The cash can be used at any time to purchase investments within your TFSA. Make contributions easily using our transfer feature, or set up recurring transfers to automatically maximize your annual contribution limit.

Zag Tax-Free Savings
Product Today’s Rate
Zag Tax-Free Savings 1.65%

What’s in it for you?

Earn high, tax-free interest on every dollar. 

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

What you get Fee
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

1Please note that your other financial institution might charge for funds going out of your external bank account.

Your Zag Tax-Free Savings 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.


Zag Tax-Free GIC

Take comfort in knowing exactly how much you’ll earn for up to five years. Choose the Zag Tax-Free GIC and you’ll know exactly how much you’ll earn and when your savings will be available.

Zag Tax-Free GIC
Term Today’s Rate
6 months 0.75%
9 months 0.80%
1 year 1.25%
2 years 1.50%
3 years 1.55%
4 years 1.60%
5 years 1.80%

What’s in it for you?

Buy online with a minimum of just $250

Choose a term from 6 months to 5 years

Automatically renew your GIC at the end of each term

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

What you get Fee
Account opening Free
Account maintenance and online statements Free
Account management with Mobile and Online Banking Free
Retrieval of past statements through Zag Bank Online Banking Free
Customized, automatic alerts and notifications Free

For the Zag Tax-Free GIC, interest is annualized, calculated daily, compounded monthly and paid at maturity for 1- to 5-year terms. You have the option to have interest paid out to your Zag Savings Account (or to the External Account from which the funds originated if you don’t have a Zag Savings Account).

For 6 and 9-month term GICs, interest is calculated daily and paid at maturity to your Zag Savings Account (or the External Account from which the funds originated if you don’t have a Zag Savings Account). Interest is calculated as simple interest on 6- and 9-month GICs and therefore is not compounded.

The applicable interest rate is determined on the date on which Zag Bank receives your funds.