Learn about Canadian savings accounts
Earn interest while you save for your goals
Saving money is a smart way to plan for your financial goals and build your life. When your savings are easily accessible, you can use them for emergencies, travel or a down payment on a home. A savings account is one of the most convenient places to grow your savings. It offers many helpful benefits.
- It is a secure place to keep your money
- You can choose from different savings options depending on your needs
- You have easy access to your money when you need it
As a newcomer to Canada, you will need to visit a local TD branch to open a savings account.
Save your money
There are many safe and secure ways to save money and earn interest.
Whatever your need, we have the solutions
Whether you need access to your funds at any time, or are looking for a premium interest rate, we have an account for you.
TD can help by setting up a Pre-Authorized Transfer Service from your chequing to your savings account. You decide how much you want to save each month and the funds are transferred for you automatically. It’s free to set up
A good way to save for future educational costs is to open a Registered Education Savings Plan (RESP). With an RESP, the money in your plan grows tax-deferred. Plus, the Government of Canada provides grants to help your savings grow.
We’ve been serving newcomers to Canada
for over 100 years
When you bank with TD, your money and personal information are always protected.
More than 1,150 branches — open later and longer than other Canadian banks, with 400 open on Sundays.2
Service in over 200 languages.
Explore these other solutions for newcomers to Canada
Our New to Canada package
Our banking package for newcomers to Canada includes a savings account.
When you visit a TD branch, you’ll need to bring 2 pieces of identification:
(1) One of the following documents:
- Permanent Resident Card
- Confirmation of permanent residence (IMM Form 5292)
- Temporary Permit (IMM Form 1442, 1208, 1102)
(2) One of the following documents:
- A valid passport
- Canadian Driver’s Licence
- Canadian Government Identification card
Other identification documents may be acceptable or required. Please visit a TD branch for details.
To qualify for the New to Canada banking package:
- You are either a Permanent Resident or Temporary Resident of Canada for 2 years or less
- You provide proof of your status through your Permanent Resident Card or Temporary Permit.
- You have never opened or held a TD Chequing Account
- You are the age of majority in your Province or Territory of Residence.
1Individual branch hours vary
