I made a mistake, I equated Savings Account with a GIC (which is like a cashable certificate of deposit). In Canada they can both be referred to as a TFSA, or T

I made a mistake, I equated Savings Account with a GIC (which is like a cashable certificate of deposit). In Canada they can both be referred to as a TFSA, or Tax-Free Savings Account. However the GIC is not like a savings account where there are minimum balance requirements to get an advertised rate.