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Enjoy a tax-free wayLegal Disclaimer1 to save for your first place

Open and fund your account—we’ll take care of buying and managing your investments for you.

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What is an FHSA?

An FHSA is a new registered investment account that you can use to save for your first homeLegal Disclaimer 2, without paying any tax on the money you earn or take out.Legal Disclaimer 1 At RBC InvestEase, the money you put in your FHSA will be invested in a professionally-built portfolio of exchange-traded funds (ETFs) that we manage for you.

Highlights of the FHSA:

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Numbers to Know


Annual tax-deductible FHSA
contribution limit


Lifetime FHSA
contribution limit


How much you’ll pay in taxes
on FHSA earnings
(if you make a qualifying withdrawal to use for your first home)

Benefits of an RBC InvestEase FHSA

  • A professional team to manage your investments
  • Simple way to save for your first home
  • Advice when you need it

See How Easy It Can Be to Save for Your First Home

At RBC InvestEase, we pick, buy and manage the investments in your FHSA so you don’t have to.

The first step to opening an RBC InvestEase FHSA is to share some info so that we can match you with the right professionally-built investment portfolio to hold in your FHSA. We’ll ask you about:

  • Your investing timeframe
  • How much you plan to invest
  • Your feelings about risk

Your portfolio will contain low-cost exchange-traded funds (ETFs) and align with the goal and risk comfort level you share with us. All of our portfolios come with two options to select from—a Standard Portfolio and a Responsible Investing Portfolio. Learn more about our ETF portfolios.

After accepting your portfolio recommendation and choosing either the Standard or Responsible Investing Portfolio, you can finish opening your account and make your first deposit to your FHSA. You can start with any amount you’re comfortable with—we’ll invest your money when your balance reaches $100 or moreLegal Disclaimer6.

Since the money you earn from investments you hold in an FHSA (interest, dividends or capital gains) is not taxed, it has the opportunity to grow faster than it would in a non-registered account.

To transfer money to your FHSA or check your progress, simply log in to your RBC InvestEase dashboard. (If you’re an RBC client, you can also access your account from Online BankingLegal Disclaimer7 and the RBC Mobile appLegal Disclaimer5.) Plus, you can set up ongoing deposits (weekly, monthly, etc.) into your FHSA to save without even having to think about it.

Our Portfolio Advisors will keep an eye on your investments and rebalance your portfolio as needed to help you stay on track toward buying a home. Plus, you can reach out at any time if you have questions or need a little advice.

Note: You can make tax-deductible contributions of up to $8,000 annually, up to a lifetime contribution limit of $40,000. If you don’t contribute the full $8,000 in a single year, the balance can be carried over for as long as you have the account and added to a future year’s contribution amount. Up to $8,000 of previously unused contribution room can be used annually.

One of the best things about the FHSA is that you don’t have to pay tax on the money you withdraw, as long as it’s used to buy a qualifying homeLegal Disclaimer1. While you can take money out of your FHSA at any time to use for a qualifying home purchase, it will take about 5 to 7 business days for your funds to become available.

If you withdraw only a portion of the funds from your FHSA to purchase a qualifying home, you can transfer any remaining funds to your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) on a tax-free basis on or before December 31 of the year following your initial withdrawal. Otherwise, you must withdraw the remaining balance and it will be taxed.

Tip: You can use both an FHSA and the RRSP Home Buyers’ Plan (HBP) to purchase a qualifying home. Keep in mind that you’ll have to repay any funds through the HBP, but not with an FHSA.

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RBC InvestEase is a restricted portfolio manager providing access to model portfolios consisting of RBC iShares ETFs with each model portfolio holding up to 100% of RBC iShares ETFs. RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. (RBC GAM) and iShares ETFs managed by BlackRock Canada Limited (BlackRock Canada). RBC GAM and BlackRock Canada have entered into a strategic alliance to bring together their respective ETF products under the RBC iShares brand, and to offer a unified distribution support and service model for RBC iShares ETFs.

Other products and services may be offered by one or more separate corporate entities that are affiliated to RBC InvestEase Inc., including without limitation: Royal Bank of Canada, RBC Direct Investing Inc., RBC Dominion Securities Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company. RBC InvestEase Inc. is a wholly-owned subsidiary of Royal Bank of Canada and uses the business name RBC InvestEase.

The services provided by RBC InvestEase are only available in Canada.