Tax-Free Savings Account and Tax-Free GICs

A new way to save:

Tax-Free Savings Account and Tax-Free GICs are registered accounts offered by ICICI Bank Canada in response to new legislation introduced by the Federal Government in the 2008 Budget. They are available to any Canadian resident who is 18 years of age or older and has a valid Social Insurance Number. Investment income in these accounts will grow tax-free.

Tax-Free Savings Account (TFSA)

To give you flexibility when you don’t want to lock in your funds for a fixed term or interest rate, a TFSA is the ideal solution. You also receive your interest credited monthly.

• High Interest Rate: Earn 2.00% p.a. interest. Interest is calculated daily and paid monthly.
• No Fees: Keep all of your money. There are no monthly or annual administration fees, so you can watch your money grow faster.
• Flexible: No minimum balance.
• Convenient Banking: You may do your banking online or by phone at your convenience
• Safe and Secure: ICICI Bank Canada is a member of CDIC. Only deposits held in Canadian currency, having a term of five years or less and payable in Canada are insurable under the Canada Deposit Insurance Corporation Act.

Tax-Free GICs

Tax-Free GIC is the right choice when you want to invest at a guaranteed interest rate for a fixed term. Nothing to worry about.

• Attractive Interest Rates: Highly competitive interest rates. Interest is compounded annually and paid at maturity.
• Guaranteed Return: The interest rate is guaranteed for the term of the deposit.
• Low Minimum Investment: You don't need a lot to invest. Only a minimum of C$1,000 is required to open a Tax-Free GIC account.
• Various Terms: Invest for the term of your choice - from 1 to 5 years.
  

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