Loans Mortgages Cards Banking Investing Tools Locations FX Insurance Learn
★ INTERACTIVE STACK BUILDER ★ Set your fill pace. See your stack grow. Drag the sliders. Watch the year-by-year fill animate. Faster fill = more growth at first-home time.
★ YOUR FHSA AT YEAR 5 $ 49,226
$40,000 contributed + $9,226 tax-free growth
★ YEAR-BY-YEAR FILL
$40k $20k $0
★ ANNUAL FHSA LIMITS · 2023-2028 ★ $8,000/year × 5 years = $40,000 FHSA launched April 2023. Five years of $8k contributions fills the $40k lifetime cap. Carry-forward up to $8k of unused room.
$8k
2023
Account launched (April)
$0
2028
Max reached (5-year fill)
LAUNCH April 2023
ANNUAL LIMIT $8,000
LIFETIME MAX $40,000
ACCOUNT LIFE 15 yrs / age 71
★ FHSA vs TFSA vs RRSP ★ Why the FHSA is the best of both FHSA inherits the deduction from RRSP AND the tax-free withdrawal from TFSA. No other registered account does both.
Contribution tax-deductible?
✓ Yes (like RRSP)
✗ No
✓ Yes
Withdrawal tax-free?
✓ Yes for first home
✓ Always
✗ Taxable
Annual limit
$8,000
$7,000
$33,560
Lifetime limit
$40,000
$109,000+
Unlimited
Can use for first home?
✓ Yes (main purpose)
✓ Yes
✓ Via HBP ($60k)
Carry-forward room?
✓ $8k max
✓ Unlimited
✓ Unlimited
Account max age
15 yrs or age 71
No limit
Age 71 → RRIF
★ 6 TOP FHSA PROVIDERS · 2026 ★
Where to open your FHSA WS Wealthsimple FHSA Wealthsimple
AUTO-INVEST · BEGINNER CASH RATE 4.00% on uninvested
Investing Auto-invest portfolios + Self-directed
Fees $0 trades · 0.50% MER managed
First major fintech to launch FHSA. 4% interest on cash + auto-managed portfolios + commission-free trading.
Open FHSA → QT Questrade FHSA Questrade
SELF-DIRECTED INVESTOR CASH RATE 0% on cash
Investing Self-directed stocks + ETFs
Fees $4.95-9.95/trade · ETFs free
Best tool set for serious investors. Free ETF purchases. Self-directed in Canadian + US markets.
Open FHSA → EQB EQ Bank FHSA EQ Bank
CASH + GIC SAVINGS CASH RATE 3.00% on cash
Investing Cash + GICs only
Fees $0 fees
No-fee FHSA with 3% interest on cash. Can also buy GICs inside. Best if you want guaranteed return on first-home savings.
Open FHSA → NEO Neo FHSA Neo Financial
MOBILE-FIRST · APP UX CASH RATE 2.25% on cash
Investing Managed portfolios
Fees $0 fees · 0.25-0.40% MER
Mobile-first FHSA in the Neo app. Integrated with Neo Money chequing/savings. Best app UX for daily check-ins.
Open FHSA → TDD TD Direct FHSA TD
BIG-6 ACCESS · BRANCH CASH RATE 0.05% on cash
Investing Full self-directed
Fees $9.99/trade
Big-6 bank reliability + in-branch service. Higher trade fees. Good for first-home buyers who want in-person help.
Open FHSA → RBC RBC Direct FHSA RBC
WEALTH ECOSYSTEM CASH RATE 0.05% on cash
Investing Self-directed + Managed
Fees $9.95/trade · $0 with $15k
Free trades once you hit $15k. Integrates with RBC mortgage pre-approval ecosystem — useful when ready to buy.
Open FHSA → YOUR QUESTIONS
FHSA · straight answers Who qualifies as a "first-time buyer" for FHSA? − Canadian residents aged 18-71 who haven't lived in a home they (or their spouse) owned in the current year or any of the previous 4 calendar years. Important: "owned" includes part-ownership. If you owned a co-op share that you lived in, you don't qualify. Confirm with CRA before opening if uncertain. Can I really combine FHSA with HBP? + What if I don't use my FHSA for a home? + Does FHSA contribution room carry forward? + Is the contribution deduction worth more than TFSA? + What can I invest inside an FHSA? + Can I open multiple FHSAs? + When do I need to use the FHSA money? +