haventree bank
Why Choose a Haventree FHSA?
Contributions are tax-deductible, and your investment growth and qualifying withdrawals to purchase your first home are tax-free.
Key Tax Benefits for a First Home Downpayment
The FHSA combines key advantages of both a TFSA and an RRSP.
Tax-Deductible Contributions
Eligible contributions can reduce your taxable income today.
Tax-Free Withdrawals
Qualified withdrawals used toward the purchase of your first home are tax-free.
Keep More of Your Money
With tax advantages at both the contribution and withdrawal stages, more of your savings can go toward your future home.
Product Features
First Home Savings Account
Find the FHSA That's Right for You
FHSA Savings Account
Build your down payment with flexibility and tax-advantaged growth. An FHSA Savings Account allows you to add to your savings regularly while maintaining access to your funds as your homeownership plans evolve. FHSA rules may change, please visit the Government of Canada’s FHSA homepage* for more details.
Open an FHSA Savings Account
Best for
Future homebuyers who want short-term flexibility while actively building their down payment.
Features
Tax-deductible contributions Tax-free qualifying withdrawals
Competitive 2.50%** interest rate
No monthly account fees
Easy access to your savings
Guaranteed Investment
FHSA GICs
FHSA GICs
Earn a guaranteed return while keeping every dollar of interest tax-free. Haventree FHSA GICs offer predictable growth and peace of mind, making them a smart option for medium- and long-term savings goals.
Learn More on GICs| Term | Rate |
|---|---|
| 1 Year | 4.25% |
| 2 Years | 4.00% |
| 3 Years | 4.15% |
| 4 Years | 4.20% |
| 5 Years | 4.30% |
Shorter terms are also available. See terms and conditions**.
Best for
Savers who want certainty, stability, and guaranteed returns.
Features
Guaranteed rate for the full term
Competitive interest rates
No exposure to market fluctuations
Terms to suit your savings horizon
Eligible deposits covered by CDIC insurance, within applicable limits
Find the right account for your goals
Compare registered savings options for every stage of life.
| Account details | RRSP | FHSA | TFSA |
|---|---|---|---|
| Best for | Saving for retirement | Saving for your first home | Saving for retirement, big purchases, and emergency fund |
| Tax benefits | Contributions are deductible from taxable income. | Contributions are tax deductible. Qualifying withdrawals for first home are tax-free. | Growth within account are tax free at withdrawal. |
| Choose this if... | You want to build long-term retirement savings and reduce your taxable income. | You're a first-time home buyer and want the tax advantages while saving for a home. | You want flexible savings with tax-free growth and withdrawals. |
| Contribution room | Up to 18% of previous year's earned income, subject to the annual limit. | $8,000 per year, up to $40,000 lifetime. | $7,000 annual limit in 2026, plus unused room carried forward. |
HOW IT WORKS
How an FHSA Works
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WHAT’S NEXT