TFSA - Do you make interest? ?
So I’m a little confused with TFSA (tax-free savings account) and have heard different opinions.
Does a TFSA make interest on its own when you put money in or must you have an investment with a GIC, mutual funds, etc. Through your TFSA.
Basically trying to find out how a TFSA differs from having my regular bank savings account.
- Anonymous8 months ago
Yes, but you earn less interest. Most people are better off with a taxable savings account. But it depends on your tax bracket and your state tax rate I think.