Insight into the First Home Savings Account (FHSA) for New Canadians

Firstly, you must be a Canadian resident and have a valid social insurance number (SIN). Secondly, you must be at least 18 years old to open an FHSA. Finally, you must not have owned a home in the four calendar years before the year you plan to withdraw funds from your FHSA for your first home purchase.

Overall, the FHSA is a valuable tool for newcomers to Canada who are looking to save for their first home. With tax-deductible contributions, tax-free withdrawals for qualifying home purchases, and flexible investment options, the FHSA can help make the dream of homeownership a reality. By choosing TD for your FHSA, you can benefit from personalized financial advice, clear mortgage planning tools, and a range of investment options to suit your needs.

If you are considering buying your first home in Canada, opening an FHSA with TD could be a smart move. Speak to a TD personal banker today to learn more about how an FHSA can help you achieve your homeownership goals.

Are you a Canadian resident, 18 years or older, have a valid social insurance number (SIN), and looking to purchase your first home? If so, the First Home Savings Account (FHSA) could be the perfect tool to help you save for that dream home.

For newcomers in Canada, the FHSA offers tax benefits and the flexibility to invest your contributions. It’s a simple step towards achieving your goal of homeownership.

When it comes to choosing a bank for your FHSA, TD is a great option. With over 150 years of experience in providing financial solutions to Canadians, TD has a solid reputation for helping newcomers navigate the Canadian banking system. With more than a thousand branches and the ability to serve you in over 80 languages, TD is one of the largest and most trusted banks in Canada, serving 16 million Canadians.

TD offers online support and resources on topics such as Banking Basics, moving to Canada, and essential credit score information. With longer hours of operation and thousands of ATMs across Canada, TD makes it easy for you to take care of your banking needs.

Ready to bank with TD? Learn more about the TD New at Canada Banking Package today. Book an appointment to speak with a TD Personal Banking Associate about the TD New from Canada bank package. You can schedule an appointment online or visit the TD website for more information.

Please note that the information provided in this article is for informational purposes only and should not be considered financial, legal, accounting, or tax advice. Products and services offered by TD Bank Group are subject to the terms and conditions of the applicable agreement and may be changed without notice.

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