Which Canadian banks are offering the tax-free First Home Savings Account?

Two of Canada’s major banks are now offering the new tax-free First Home Savings Account (FHSA), weeks after the government launched the banking option for prospective homeowners.

National Bank of Canada and Royal Bank of Canada both announced last week that they are offering the option for customers.

WHAT IS A FHSA

Announced in the 2022 federal budget, the tax-free savings account “combines the best features of an RRSP (Registered Retirement Savings Plan) and a TFSA (Tax-Free Savings Account),” according to RBC.