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A safe, guaranteed way to start saving for your first home
Get guaranteed returns with a GIC
Invest for your first home without the risk, a Guaranteed Investment Certificate (GIC) offers a guaranteed rate of return over a specific period of time.
Start saving, tax-free
Our FHSA GIC account can help you grow your savings tax-free, so you can invest that money into your first home whenever you’re ready.
Have easy access
You can redeem your GIC at any time with no fees or penalties3.
Key product details
| Eligibility | You must be: - A resident of Canada - At least 18 years old - A first-time home buyer1 |
| Interest earned | See current rates |
| Fees | No fees, including no fees or penalties for early withdrawals2 |
| Term | 1 year - 5 years |
| Minimum investment | Your original investment must be a minimum of $500 |
| Maximum investment | $8,000 per calendar year, up to a lifetime maximum of $40,000 |
| Redeemable during investment | Yes3 |
| Investment plan type | Registered |
Start saving, tax-free for your first home
Open your First Home Savings Account GIC now and start saving for your first home.
Frequently asked questions
A Guaranteed Investment Certificate (or GIC) is an investment that offers a guaranteed rate of return over a specific period of time. This helpful article can help you learn more about a GIC, and if it is the right investment product for you.
To open a FHSA GIC, you can visit your local ATB branch or book an appointment with one of our advisors online when and where it works for you.
Please note, to open a FHSA GIC, you must first open a FHSA Daily Interest Account. That way, when your GIC matures, it can be deposited into the FHSA Daily Interest Account without you incurring any withdrawal fees or taxes3.
No, with our FHSA GIC you need to make a minimum deposit of $500.
However you are able to open our FHSA Daily Interest Account, without an initial deposit. Learn more about this FHSA account type here.
You will get notified by mail 30 days prior to your GIC maturity date. Within this time you will be able to give us new investment instructions, or allow an auto-renew into a similar product. However, without reinvestment instructions on your maturity date your FHSA GIC will be transferred into your FHSA Daily Interest Account.
You can redeem the FHSA GIC before the maturity date. The FHSA GIC has no fees or penalties for early withdrawals at any time. Please note, you will first need to redeem your FHSA GIC into your FHSA Daily Interest Account. Once your investment is in your FHSA Daily Interest Account you will be able to make a withdrawal from that account2.
You can contribute up to $8,000 per calendar year, up to a lifetime maximum of $40,000. Your contribution room starts in the year you first open an FHSA. You can carry up to $8,000 of unused room forward to the next calendar year. Please note, if you hold multiple FHSA plan’s at different banks the total amount you contribute annually across all FHSA plans cannot exceed the $8,000 contribution room.
Yes—with certain limitations.
Any unused contribution room can be carried forward, but it can only be carried forward to the next calendar year. The maximum amount of unused FHSA contribution room that can be carried forward to the next year is $8,000. Beyond that, it is not cumulative.
For example, if you open your FHSA in December 2023 and contribute $3,000, your FHSA carryforward will be $5,000 ($8,000 minus $3,000). Your FHSA participation room in 2024 will be $13,000, calculated as follows:
$8,000 (current year) plus $5,000 (FHSA carry forward from 2023) = $13,000
You can learn more about our available FHSA options here.
Read our extensive list of FHSA FAQs here. Or, contact us and we'd be happy to answer any questions you have.
Start investing for your first home
Open your First Home Savings Account GIC, so you can invest for your first home with peace of mind.
Learn more about saving for and buying a home
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Grow your savings for your first home
First Home Savings Account Daily Interest Account
This account is a simple and guaranteed way to save for your first home by making regular contributions with tax deferral benefits.
This means you or your spouse or common-law partner did not own a qualifying home that you lived in as a principal place of residence at any time in the year the account is opened or the preceding four calendar years.
There are currently no service fees or charges payable to ATB Financial for the operation of the Account or for conducting any transactions. However, fees may be payable to your Dealer. ATB Financial may impose fees in the future on the Account, but you will be provided with notice prior to fees being added or changed. You will be required to pay taxes on withdrawals not used for the purchase of your first home. Any such fees and any taxes, interest or penalties payable by you may be deducted from your funds in the Account.
Redeem your GIC at any time with no fees or penalties time into your FHSA Daily Interest Account. Note, you will be required to pay taxes on withdrawals from your FHSA Daily Interest Account not used for the purchase of your first home. Any such fees and any taxes, interest or penalties payable by you may be deducted from your funds in the Account.
Related documents: Little Book of FHSA (PDF)
ATB Wealth® (a registered trade name) consists of a range of financial services provided by ATB Financial and certain of its subsidiaries. ATB Investment Management Inc. and ATB Securities Inc. are individually licensed users of ATB Wealth. ATB Securities Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization.
The information contained herein has been compiled or arrived at from sources believed to be reliable, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness, and ATB Wealth (this includes all the above legal entities) does not accept any liability or responsibility whatsoever for any loss arising from any use of this document or its contents. This information is subject to change and ATB Wealth does not undertake to provide updated information should a change occur. This document may not be reproduced in whole or in part, or referred to in any manner whatsoever, nor may the information, opinions and conclusions contained in it be referred to without the prior consent of the appropriate legal entity using ATB Wealth. This document is being provided for information purposes only and is not intended to replace or serve as a substitute for professional advice, nor as an offer to sell or a solicitation of an offer to buy any investment. Professional legal and tax advice should always be obtained when dealing with legal and taxation issues as each individual’s situation is different.