Citizens Bank TFSA Rate And Plan

Here is another bank added to the list. Citizens Bank is a division of Vancity and so it is not too surprising that the annual interest rate is virtually the same at 2.75% as you can see here:

They are dubbing this plan as the “Tax-Free Ultimate Savings Account”. Since this a virtual banking option, you will have to be prepared to do all of your banking transaction mostly through the phone or online as oppose to doing it in-branch. Another note is that on the site they indicate that if you were thinking of transferring your TFSA funds from another financial institution they will credit you up to $25 to compensate for the transfer fees.

Overall, it seems like a decent choice when it comes to a decent rate as well as flexibility.

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