Saving and banking guides
Explainers for Canada, with named sources and checked dates where available.
All 3 guides
Explainer2 min
The TFSA annual limit is $7,000 for 2026. Unused contribution room carries forward, and any amount withdrawn is restored as new room on January 1 of the following year.
Source: Canada Revenue Agency, TFSA contribution room · Checked
Explainer1 min
The Bank sets the target for overnight borrowing between financial institutions. Its changes influence commercial bank prime rates and other borrowing and saving rates.
Source: Bank of Canada, Understanding our policy interest rate · Checked
Explainer1 min
CDIC protects eligible deposits at member institutions. The limit applies separately by insurance category and member institution, including principal and interest.
Source: Canada Deposit Insurance Corporation, what is covered · Checked