Haventree Bank FHSA Savings Account
Monthly Fee
$0
Account Overview
The Haventree Bank First Home Savings Account (FHSA) helps eligible first-time home buyers save a down payment without a monthly account fee. Eligible contributions are generally tax-deductible, and qualifying withdrawals for a first home are tax-free.
You can keep your savings in the account or buy a GIC within the FHSA. Haventree Bank says contributions are made from its Everyday Growth Account and it currently does not accept direct transfers from other financial institutions.
The account is available in Canada outside Quebec. Eligible deposits are covered by CDIC insurance, subject to coverage limits. Check Haventree Bank’s product page for the current rate.
Pros & Cons
Pros
- No monthly fee
- Competitive interest rate (2.5%)
Cons
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Account Features
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