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. 

1 Answer

  • Anonymous
    8 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.

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