Rate guide · data as of 2026-10-16
Best FHSA rates in Canada
An FHSA is a registered account for first-time buyers, not an investment itself. It's uniquely efficient: contributions are tax-deductible like an RRSP, and withdrawals for a qualifying first home are tax-free like a TFSA. These are the highest GIC and savings rates you can hold inside one, across the Canadian banks and credit unions we track.
All GIC rates · HISA · TFSA · RRSP · FHSA
FHSA GIC rates in All Canada
1-year GIC rates
- 1Pathwise Credit Union5.00%
- 2Northern Birch Credit UnionPromo4.00%
- 3Steinbach Credit Union3.90%
- 4Hubert Financial3.85%
- 5Outlook Financial3.85%
- 6Access Credit Union3.80%
- 7Saven Financial3.80%
- 8Assiniboine Credit Union3.75%
2-year GIC rates
- 1Pathwise Credit Union4.50%
- 2Saven Financial4.25%
- 3EQ Bank4.00%
- 4Steinbach Credit Union4.00%
- 5Hubert Financial3.95%
- 6Access Credit Union3.90%
- 7Outlook Financial3.90%
- 8Assiniboine Credit Union3.80%
3-year GIC rates
- 1Saven Financial4.30%
- 2Pathwise Credit Union4.20%
- 3EQ Bank4.15%
- 4Steinbach Credit Union4.10%
- 5Hubert Financial4.05%
- 6Outlook Financial4.05%
- 7Access Credit Union4.00%
- 8Meridian Credit Union4.00%
4-year GIC rates
- 1Weyburn Credit Union4.50%
- 2Saven Financial4.35%
- 3EQ Bank4.20%
- 4Steinbach Credit Union4.20%
- 5Hubert Financial4.15%
- 6Access Credit Union4.10%
- 7Outlook Financial4.10%
- 8Pathwise Credit Union4.10%
5-year GIC rates
- 1Weyburn Credit UnionPromo5.00%
- 2Saven Financial4.50%
- 3Steinbach Credit Union4.30%
- 4EQ Bank4.25%
- 5Hubert Financial4.25%
- 6Outlook Financial4.25%
- 7Access Credit Union4.20%
- 8Assiniboine Credit Union4.15%
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Get rate alertsFHSA savings account rates
Liquid registered savings — the rate can change, but there's no lock-in.
- 1Affinity Credit UnionDaily interest4.00%
- 2HMECUDaily interest4.00%
- 3Accent Credit UnionDaily interest3.45%
- 4Rosenort Credit UnionDaily interest · min $250,0003.35%
- 5FirstOntario Credit UnionDaily interest3.20%
- 6OPPA Credit UnionDaily interest3.00%
- 7VancityHigh-interest3.00%
- 8Saven FinancialHigh-interest2.85%
- 9Meridian Credit UnionDaily interest2.75%
- 10Public Service Credit UnionDaily interest2.75%
The FHSA, explained
Why hold a GIC in an FHSA?
You deduct the contribution now and pay no tax on the growth or the withdrawal when you buy your first home. A GIC adds a guaranteed rate on top, useful if your purchase is a year or more out.
Contribution limits
You can contribute up to $8,000 a year, to a $40,000 lifetime maximum. Unused annual room carries forward once you've opened the account.
Match the term to your timeline
Pick a GIC term that matures around when you expect to buy. If the timing is uncertain, a shorter or cashable term keeps you flexible.
FHSA questions
Is an FHSA the same as a GIC?
No. An FHSA is a registered account; a GIC is one of the investments you can hold inside it, alongside savings, mutual funds and others.
Who can open an FHSA?
A first-time home buyer who is a Canadian resident and at least 18. You generally can't have lived in a home you owned in the current year or the prior four calendar years.
What's the tax benefit?
It's the only account that is both deductible going in, like an RRSP, and tax-free coming out, like a TFSA, as long as the withdrawal is for a qualifying first home.
What if I don't buy a home?
You can transfer the FHSA to your RRSP or RRIF without using RRSP room, keeping the tax deferral. Otherwise a non-qualifying withdrawal is taxable.