Open a Halal Tax-Free Savings Account

When you invest in a TFSA, you don't pay taxes on any investment gains and you can withdraw funds anytime without penalty. But ours is also halal!

Get Started on Your Halal TFSA

What is a TFSA?

A Tax Free Savings Account (TFSA) is a registered investment or savings account that allows for tax free gains. The amount of money that can be contributed to a TFSA is limited each year. A TFSA can be used for any savings goal and withdrawals can be made free of tax.

What Makes a TFSA Halal?

The TFSA is just an account with some tax rules around it. It is how the money that is deposited into this account gets invested that will make it halal or not. The focus here should not be the account type but the underlying investments. As long as that cash is being used to buy Shariah-compliant investments such as the Manzil Halal Portfolios then you should be able to sleep peacefully at night.

Benefits of a Halal TFSA

  • Earn investment income, tax-free

    Any gains you earn in the account is not subject to tax.

  • The ability to withdraw your savings, tax-free

    You can withdraw your money at any time and for any purpose.

  • Contribute to your spouse’s TFSA

    Keep in mind, your total contribution to any account cannot exceed the maximum amount allowed.

  • It's Halal

    The money you put in your TFSA account gets invested into the Manzil Halal Portfolios. This means your money is not just growing tax-free, but you can sleep peacefully at night knowing it's growing through halal means.

Get Started on Your Halal TFSA

Why WealthBar?

We partnered with a Robo-Advisor, WealthBar, so you can access the Manzil Halal Portfolios and get financial advice.

  • Low fees. Happy wallets

    WealthBar delivers a low fee investing service, so more of your money stays invested.

  • Smarter technology, smarter savings

    Build better savings habits with WealthBars easy automated savings and investment app.

  • Advice worth listening to

    Advice, not a sales pitch, from a Certified Financial Planner® included.

Your Money is Safe with WealthBar

Funds managed by WealthBar are held with custodian members of Canadian Investor Protection Fund (CIPF). This provides limited protection for customer accounts, in case of the custodians’ insolvency for up to $1 million per account type category.

  • WealthBar is a registered portfolio manager.
  • Advanced technology to secure your account.
  • Protecting your personal information.
  • Total transparency.

Ready to Open Your Halal TFSA?

It's fast and it's easy. In just a few minutes, you can open, fund and start growing your halal TFSA.

Get Started on Your Halal TFSA
Skip to content