How do I open and contribute to an FHSA?

By appointment

Like a TFSA or RRSP, the FHSA is an investment vehicle that allows you to save tax-free towards the purchase of your first property. In it, you’ll have to choose one or more investment products in which to grow your funds and reach your goals. You’ll be able to choose from one of the following: 

• Guaranteed Investment Certificate (GIC) 
  
• Cash Advantage Solution 
  
• Managed solutions and investment funds 
  

If you would like to invest your money in one of these products or discuss which option is best suited to your needs, make an appointment with a member of our team to open your FHSA.   

Once your FHSA has been opened, here's how to contribute to it:   

• If you want to invest in a GIC or the Cash Advantage Solution, you’ll have to contact an advisor to make your contribution.  
  
• If you choose the Managed solutions and investment funds, you can make your contributions directly through your online bank.  
  

 

From your online bank   

You can also open an FHSA online. However, for the time being, the only investment products available through your online bank are managed solutions and investment funds.  

Here's how to open an FHSA from your online bank: 

1. Sign in to your online bank.   
   
2. Click Products and services in the left-hand menu, then on Savings and investments.   
   
3. Under Registered plans, click on Discover our FHSA products.   
   
4. Click on Open an account or Contribute under the solution of your choice.   
   
5. Follow the instructions.   
   

Once your FHSA has been opened, you'll receive an on-screen confirmation.  

Here's how to open an FHSA from the National Bank app:  

1. Sign in to the National Bank app. 
   
2. Expand the menu and click on Products and services.  
   
3. Then click on Open an investment account.  
   
4. Click on Open an account and sign in to the web version of your online bank using your email ID and password. 
   
5. Select the FHSA option and follow the instructions.