Scotiabank becomes latest Canadian bank to offer FHSA

Scotiabank has launched the First Home Savings Account (FHSA), making it the latest Canadian bank to offer the new banking option geared to help Canadians enter the red-hot housing market.

The federal government created the FHSA to address housing affordability challenges, combining elements of the Registered Retirement Savings Plan as well as the Tax-Free Savings Account. 

Banks could start offering FHSAs as of April 1, but most did not make it available right away.

Scotiabank announced Wednesday that the account is now available.