Chequing
RIF Savings Account
When you’re ready to start drawing income from your retirement savings, a Tangerine RIF Savings Account gives you a great rate with no minimum balances or unfair^ fees while you save with us.
[[SAVINGS_RIF.RATE]]
Interest rate
$0
Monthly fee
$0
Minimum balance
Great rate
Our rates are great at [[SAVINGS_RIF.RATE]] since [[SAVINGS_RIF.DATE]].
No minimum balance
Earn the same great rate on every dollar in your Account.
No unfair^ fees
Because we know that every penny counts, you won’t pay any unfair fees or service charges while you save with us.
What’s a RIF?
With a Tangerine RIF Savings Account, you can draw the retirement income you need while enjoying the benefits of our Tangerine Savings Account.
RIF withdrawals and taxes
Interest earned in your RIF isn't taxed. You’ll have to pay income taxes on the mandatory minimum RIF Payment Amounts you’ll receive every year. You can make withdrawals on top of your minimum RIF Payment Amounts, which will be subject to government withholding taxes in addition to income taxes.
Your security matters
Keeping your banking info safe isn’t the only thing required to keep your Accounts protected. Discover expert tips and 24/7 security features for peace of mind all year long.
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Take a look at our other RIF options
RIF Investment Fund Account
Draw the income you need from your retirement savings while continuing to grow your investments.
RIF Guaranteed Investment (GIC)
The guaranteed benefits of a GIC join forces with all the great features of a RIF.
^Fair fees mean they are disclosed and agreed to in advance, and the amount makes sense relative to the benefit received. Registered Accounts have no fees while your funds are with us. If at some point you decide to transfer your funds to another financial institution, a fee will apply. View the complete list of Account fees.
† Savings Account, Chequing Account, and GIC interest rates expressed on this website are annual interest rates and are current as of today's date. Interest rates are subject to change without notice. Interest is calculated daily and paid monthly on our Savings and Chequing Accounts. GIC terms of one year or longer have interest calculated on the basis of 365/366 days and compounded and/or paid annually. GIC terms of less than one year have interest calculated on the basis of 365/366 and paid at maturity.