MONTREAL, Nov. 24, 2011 /CNW Telbec/ - In light of the tremendous popularity of the Tax Free Savings Account (TFSA), Laurentian Bank is offering its retail clients the possibility of contributing now to their TFSA for the 2012 taxation year1. In so doing, savers can benefit from promotional rates specially created for the pre-sale period.
Terminating on December 31, 2011, this offer is available to existing and future clients who wish to take advantage of the incentive without having to wait until January to make their contribution. By acting now, they benefit from the attractive rates being offered by the Bank. Any investments made now will be transferred into the client's TFSA in January 2012.
All Canadian residents aged 18 and over can invest up to $5,000 a year in a TFSA. Laurentian Bank is advising its clients who have reached their RRSP contribution limit that the TFSA also serves to shelter savings from taxes. Investment earnings (interest, dividends and capital gains) are not taxable and will never be, even if the sums accumulated in a TFSA are withdrawn. Moreover, upon making withdrawals from a TFSA, contribution rights can be recovered for subsequent years.
Laurentian Bank has posted its rates currently in effect on its Web site at www.laurentianbank.ca.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Distinguishing itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.
Laurentian Bank is well established in the Province of Québec, operating
the third-largest retail branch network. Elsewhere throughout Canada,
it operates in specific market segments where it holds an enviable
position. Laurentian Bank of Canada has more than $24 billion in
balance sheet assets and more than $15 billion in assets under
administration. Founded in 1846, the Bank employs more than 3,800
1 Accumulated interests earned between the date of contribution and transfer within the TFSA are taxable.
Public Relations Advisor
514 284-4500, extension 4695