FHSA – Savings Account
Promotional rate
Features
This savings account, designed specifically for first home savings account (FHSA) registered plans, lets you save tax-free to buy your first home. It offers security and flexibility since you can save money and easily access it.
To open an FHSA – Savings Account, you must first register for an FHSA issued and administered by Desjardins Trust. You also need a Desjardins everyday account.
Transactions
Deposits, withdrawals, transfers permitted at all times.
However, if a withdrawal doesn't meet certain eligibility criteria, you'll have to pay taxes on that amount and you'll lose that contribution room. Ineligible withdrawals could reduce government benefits and credits that are based on income.
Overcontributions are subject to a tax of 1% per month.
Automatic transfers
Make automatic transfers into your account. You decide how much and how often (minimum of $25 per transfer).
Interest
Paid monthly and non-taxable.
See current rates.
Account statement
Monthly statement of account included in the everyday account statement you receive by mail or online.
Learn more about account statements.
Other
Eligible for potential member dividends.
Learn more about member dividends.
Calculate
How much will your investment be worth at maturity?
- Rate subject to change without notice. Certain conditions apply.
- A qualifying home is a housing unit located in Canada. This includes existing homes and those being constructed. Single-family homes, semi-detached homes, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes, or apartment buildings all qualify. A share in a co-operative housing corporation that entitles you to possess, and gives you an equity interest in a housing unit located in Canada, also qualifies. However, a share that only provides you with a right to tenancy in the housing unit does not qualify.
- To make a non-taxable withdrawal from your FHSA, you must meet the conditions described in form RC725 Request to Make a Qualifying Withdrawal from your FHSA - This link opens in a new tab..