FHSA – Savings Account

Introductory promotional rate

  • Rate of 5.00%
  • Account type: registered savings account
  • Fees: none
  • Deposit insurance: up to $100,000 per person per caisse
  • Savings growth in the account is not taxed and withdrawals are not taxed if used to purchase a qualifying first home and certain conditions are met


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.


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).


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.


Eligible for potential member dividends.
Learn more about member dividends.


How much will your investment be worth at maturity?

  1. Rate subject to change without notice.
  2. 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.
  3. 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..