Mackenzie TFSA High Interest Cash Builder is a savings option that can be employed within a Tax-Free Savings Account (TFSA). It features a premium rate of interest, capital protection, no minimum deposit and no account fees. And, because it’s held within a TFSA, investors’ money can grow faster, since interest earned in the plan is not taxed – ever.
How it works
Interest earned is based on posted rates, which will change from time to time without notice. Interest is credited at the beginning of the month for the previous month’s balances and is based on investors’ daily closing balances.
Benefits of Mackenzie TFSA High Interest Cash Builder
- Higher rate of interest than traditional bank accounts and many short-term GICs
- Interest is calculated daily on the closing balance and paid monthly
- Eligible for insurance by the Canada Deposit Income Corporation (CDIC)
- No monthly fees or fees to deposit or withdraw funds
- No minimum deposit or account balance requirement
- More flexibility than a GIC – can be withdrawn at any time without penalty
Mackenzie TFSA High Interest Cash Builder is a great option for investors who are:
- Looking for a guaranteed investment with a competitive rate for TFSAs
- Looking for a place to temporarily invest money while deciding which Mackenzie Investments fund to purchase for a TFSA.
- Mackenzie TFSA High Interest Cash Builder – Advisors PDF(Locked) 53 KB
* Rate is as of July 22nd 2022
Important: The Mackenzie TFSA High Interest Cash Builder is offered by B2B Bank®, a Schedule I Canadian bank that guarantees and is solely responsible for repayment of Mackenzie TFSA High Interest Cash Builder. B2B Bank is a member of the Canada Deposit Insurance Corporation (http://www.cdic.ca). B2B Bank is not affiliated with Mackenzie Financial Corporation or its affiliates.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
The content of this web page (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.
This should not be construed as legal, tax or accounting advice. This material has been prepared for information purposes only. The tax information provided in this document is general in nature and each client should consult with their own tax advisor, accountant and lawyer before pursuing any strategy described herein as each client’s individual circumstances are unique. We have endeavored to ensure the accuracy of the information provided at the time that it was written, however, should the information in this document be incorrect or incomplete or should the law or its interpretation change after the date of this document, the advice provided may be incorrect or inappropriate. There should be no expectation that the information will be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise. We are not responsible for errors contained in this document or to anyone who relies on the information contained in this document. Please consult your own legal and tax advisor.