Does RBC charge fees for TFSA?

Investment tax rates are pretty low, allowing individuals 18 and older to save or invest up to $5,000 per year without paying taxes on any gains. TFSAs may be simple or complex, depending on the individual's needs. Banks' TFSAs will generally have no annual administration fees or withdrawal costs, although some exceptions.

Your TFSA savings account may earn you a return of 1.10 percent per year, which is essentially tax-free. There's no charge each month; there's no minimum balance to maintain; you can make unlimited transactions, and your deposits are guaranteed by the Canada Deposit Insurance Corporation (CDIC) up to $100,000.