FHSA loans

FHSA loans

Saving up for your first home? This loan lets you borrow funds to maximize your FHSA contributions. You could save on taxes while earning additional investment income.

Why take out an FHSA loan?

If you don't have enough cash to max out your FHSA contributions, you can use this loan to borrow what you need. Just like with RRSPs, contributing the annual limit will help maximize your tax refund, which you can use to pay back your loan.

Advantages of FHSA loans

  • Attractive interest rates

    Lower than personal loan rates

  • Flexible loan term and repayment

    6 months to 10 years, choose your payment frequency and method

  • Deferred payment option

    Don't make any payments for up to 6 months

Features of FHSA loans

Interest rate

Fixed rate

Amount available

  • Borrow up to $8,000 the first year
  • Contribute up to $16,000 per year after the second year


  • Payment schedule: weekly, every 2 weeks, or monthly
  • Payment deferral available for up to 6 months
  • Prepayment possible at any time, in part or in full, without being charged extra fees
  • Use your tax return to repay your loan

Loan term

Up to 10 years, depending on the amount

Annual interest rates

Current rates on April 17, 2024

Fixed rate

Term Interest rate
1 year 7.20%
2 years 7.25%
3 years 7.30%
4 years 7.35%
5 years 7.40%
6 years 7.50%
7 years 7.60%
8 years 7.70%
9 years 7.80%
10 years 7.90%

Apply for an FHSA loan

Documents to bring to your meeting with an advisor:
Proof of income, investment statements, other loan statements, tax bills or leases, last federal notice of assessment

By phone

Monday to Friday: 8:30 AM to 8 PM
Saturday and Sunday: 8:30 AM to 5 PM

Montreal area:

Elsewhere in Canada:

In person

Make an appointment at a caisse or branch near you.

Find a location

Get the most out of your investments

Rates may:

  • Change without notice
  • Vary depending on your credit rating, amount borrowed, guarantees provided or other factor

Certain conditions apply.

Interest rates recommended by Fédération des caisses Desjardins du Québec to all its caisses.

  1. Borrowing to invest is leveraging. The risk associated with using borrowed money to buy securities is higher than when using your own cash. If you borrow to buy securities, you're required to pay back what you've borrowed plus the interest stipulated in the terms of the loan, even if the securities you bought drop in value. Talk to your mutual fund representative for more information about leveraging.
  2. The term offered is for a maximum of 6 months. You will have to repay your loan no later than the date set out in your loan contract through a single payment that will reimburse all the principal borrowed and interest due.
  3. In Ontario, the annual percentage rate (APR) is equal to the posted interest rate, assuming there are no additional charges applicable to the loan. Should there be such charges, the APR might be different.