New Client Offer: Earn a special 4.50% Savings rate for 5 months.²

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

Monthly fee

Minimum balance

Special Offer

Earn 4.50% for 5 months²

New Client offer: Get an awesome Savings rate with no minimum balance to help reach your goals. Learn More

Open an Account

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.

² The Tangerine New Client 4.50% Interest Rate Offer (the "Offer") is available to new Tangerine Clients who: (a) have a Client Number created between December 18, 2024 and July 31, 2025, and (b) open an Eligible Savings Account as the Primary Account Holder within 60 days of the date their Client Number was created. The 4.50% Promotional Rate will apply to deposits made to an eligible Client’s Eligible Savings Account(s) for 153 days (5 months) beginning on the date all Qualifying Conditions have been met, to a maximum of $1,000,000 (in the currency of the Eligible Savings Account) per Eligible Savings Account Type (for deposits to registered Eligible Savings Accounts made through a T2033 form, please see the full Offer Terms and Conditions). The Promotional Rate is an annualized rate, calculated daily and paid monthly. All deposits to TFSAs and RSP Savings Accounts are subject to the limits imposed by the Canada Revenue Agency (CRA) and the Client is fully responsible for ensuring any and all deposits fall within these set CRA limits.

The Offer is only applicable to Accounts where the eligible new Client is the Primary Account Holder. Offer can’t be combined with any other promotional Savings rate offers except as otherwise permitted. By accepting any Offer, you agree to the terms and conditions of this Offer. Full Offer Terms and Conditions, including definitions of any capitalized terms, are available here. Offer may be changed, extended or cancelled without notice.

^{^}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.