Manulife lowered TFSA rate to 2% | Manulife Bank | Discussion forum

I think People's Trust and Canadian Direct Financial has the highest TFSA at the moment at 3% Malquin. Watch out for the withdrawal and redepositing it in the same calender year. The CRA will charge you a penalty if you go over your limit.

I believe you can transfer it to another TFSA like a RRSP. It is a registered account with the CRA. But I am not 100% sure though. I only know about the withdrawal and redepositing penalty in the same calendar year that I read about. I never transfered it as of yet with the TFSA since its rather new with me. It started in 2009 and I didnt start contributing to it until the fall of 2010 and I usually just withdraw it in December back into my regular savings account if I am not happy with the rates and make a decision in January where to put it again for another year since every January the CRA adds another $5000 to your limit. Some banks charges for the Transfer of the funds but I think ING is free. I notice the TFSA rate with Peoples Trust is 3%. You will have to call them as I am not a client as of yet as to how their transfers work.