Do you know the difference between RRSPs and TFSAs?

Everyone has a different reason for investing in his or her future but having the financial freedom to enjoy life is at the heart of it all. At Casera, we offer a wide range of investment options, including RRSPs and TFSAs.


RRSPs (Registered Retirement Savings Plans) are like financial blueprints for your future. Your contributions, within limits, are tax deductible and the income earned is tax sheltered. There is no maximum amount of money a member may accumulate in an RRSP.

Casera offers a variety of terms from 30 days to 5 years:

Variable Rate (Minimum of $25)
Fixed Rate (Minimum of $500)

3 Great Reasons to Contribute to an RRSP

1. contributions are tax-deductible
2. interest income compounds and accumulates tax-free until you withdraw from your RRSP
3. build up a comfortable retirement fund during your peak earning years

Click here for current rates.


TFSAs (Tax-Free Savings Accounts) are great alternatives for retirement savings, but you can also use them to save for anything you dream up. Annual contributions up to $6,000 are not deductible for tax purposes, and withdrawals and earnings from the account are not taxable.

Casera offers a variety of terms from 1 to 5 years

Variable Rate (Minimum of $25)
Fixed Rate (Minimum of $500)

3 Great Reasons to Contribute to a TFSA

1. earn tax-free investment income
2. There are no restrictions on the way TFSA funds can be used — you can buy a car, go on a vacation, or renovate your home
3. the contribution limit for 2021 is $6,000

Click here for current rates.

Unused TFSA Contribution Room

Unused contribution room is carried forward indefinitely, allowing you to “catch up” by contributing more than the maximum contribution limit in a future year.

A TFSA withdrawal will increase your contribution room for any year after the year of withdrawal.

TFSA Over-Contribution

You are responsible for ensuring your maximum contribution limit is not exceeded.

Up to date information about your TFSA transactions and your available TFSA contribution room is available from the Canada Revenue Agency (CRA) online or on the phone:

  • access “My Account” on MyCRA app or CRA website at
  • call the Tax Information Phone Service (TIPS) at 1-800-267-6999

An excess contribution will result in a penalty tax of 1% per month for each month that the excess contribution amount remains in the TFSA.

Not Sure What Investment Product is Right for You?

Call Casera today for expert investment advice. Based on your objectives, family situation and tax scenario, our service specialists can help determine the type of investment products that are right for you.

Just call or drop by your neighbourhood Casera branch, or check out to set up your FREE 10-minute, no-obligation consultation.