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Earn 1 Avion point for every $2 dollars invested, plus 12,500 bonus points — up to 500,000 Avion pointsLegal Disclaimer footnote *
How to Get This Offer (opens modal window)
This new registered plan lets you contribute up to $8,000 per year to save towards a qualifyingLegal Disclaimer footnote 1 home, with built-in features to help you get there faster. The best part? Your investment earnings—including interest, and — grow tax-free.
Access your money at any time to buy a qualifying homeLegal Disclaimer footnote 1
Reduce your tax bill—contributions are tax-deductible
Participate in both the Home Buyer’s Plan (HBP) and FHSA
Taxes you’ll pay on FHSA earnings and qualifying withdrawalsLegal Disclaimer footnote 1
Annual FHSA contribution limit, plus unused contribution room (lifetime limit of $40,000)
Number of years you can contribute to your FHSA once you open it
Expand your investing knowledge with resources designed to help you take control:
Filter and choose investments using:
Receive guest access to our Online Investing platform with a risk-free Practice AccountLegal Disclaimer footnote 5. It’s a great way to practice buying and selling different investments before investing your own money. Free for RBC Online Banking and RBC Direct Investing clients.
Note: Practice FHSAs are not available. However, you can open a Practice Account as a cash, margin or RRSP account and still experience what it's like to trade online.
Enjoy benefits like real-time streaming quotesLegal Disclaimer footnote 6 and pre-market and after-hours trading at no additional cost:
Enjoy total freedom to research and pick the investments that meet your needs.
A First Home Savings Account (FHSA) is a new type of registered plan that is designed to help Canadians contribute up to $40,000 on a tax-free basis to use towards the purchase of their first home.
You can open a self-directed First Home Savings Account (FHSA) at RBC Direct Investing and make tax-deductible contributions of up to $8,000 annually, to a lifetime maximum of $40,000. If you don’t contribute the full $8,000 in a single year, the balance can be carried forward and added to next year’s contribution amount. You can use up to $8,000 of your contribution room from last year, in addition to the $8,000 annual contribution limit. That means you could contribute a maximum of $16,000 in a given year.
At RBC Direct Investing, you have the freedom to pick, buy and manage the investments you want to hold in your FHSA. Your funds and any investment earnings can stay in the FHSA and grow tax-free with every contribution you make until you’re ready to buy your first home. As long as you use the funds for your qualifying first home, you won’t have to pay any taxes on your FHSA withdrawal(s).
The funds in your FHSA have to be used by December 31 of the 15th year after opening the account, or by December 31 of the year you turn 71, whichever comes earlier. If you have not used the funds in your FHSA by that time, you can transfer the funds from your FHSA on a tax-free basis to your Registered Retirement Savings Plan (RRSP) without impacting your RRSP contribution room, or to your Registered Retirement Income Fund (RRIF). Otherwise, you can withdraw funds from your FHSA, but your withdrawal will be taxed.
No, you can use both your First Home Savings Account (FHSA) as well as make a withdrawal from your Registered Retirement Savings Plan (RRSP) under the Home Buyers’ Plan (HBP) to purchase a qualifying home. Keep in mind that with an HBP withdrawal, you’ll have to repay any funds you withdraw from your RRSP. There is no repayment requirement for withdrawals from an FHSA.
You can also transfer funds tax-free from your RRSP to your FHSA, up to your contribution limit. However, transfers from an RRSP to an FHSA will not be tax deductible and won’t reinstate your RRSP contribution room.
It depends on your savings goals. A Registered Retirement Savings Plan (RRSP) is the go-to choice for most Canadians saving for retirement, and you can save on a tax-deferred basis until retirement. A Tax-Free Savings Account (TFSA) can be used to save for any purpose—including retirement or short-term goals. A TFSA also lets you invest in qualified investments, tax-free, and you can contribute and withdraw funds at any time. A First Home Savings Account (FHSA) can help you save for your first home, tax-free. You’ll pay no taxes on contributions or withdrawals, as long as you the funds to buy a qualifying home.
Keep in mind, you don’t have to pick just one—you can save for each of your goals in different accounts. Best of all, at RBC Direct Investing, you have the freedom to research and pick the investments that you want to hold in each of these accounts!
Not at all. A First Home Savings Account (FHSA) can help you save for your first home, even if you plan to buy in the next few years. You can contribute up to $8,000 each year, tax-free, towards your down payment. When you open an FHSA at RBC Direct Investing, you have the freedom to buy investments that make the most sense for your timeline.
To open a First Home Savings Account (FHSA), you must be:
At RBC Direct Investing, you can hold the following investments in an FHSA:
More products will become available over time.
You can complete your account application online in minutes and you’ll be able to start investing in your account within 24 hours.
Open your account now.No, the First Home Savings Account (FHSA) is an individual account and cannot be held jointly. However, you and your spouse could each have an FHSA and can combine your savings to buy a qualifying home.
Plus, attribution rules will not apply to amounts that you receive from your spouse or common-law partner that you contribute to your FHSA—and vice versa. This means that any investment earnings in your FHSA will not be added to your or your spouse’s taxable income regardless of whether you or your spouse fund the contribution, as long as they are used to purchase a qualifying home.
You can hold multiple First Home Savings Accounts (FHSAs), but your total contribution room will remain the same as if you had only one FHSA. Plus, your maximum participation period of 15 years will be based on the date you open your first account.
The lifetime contribution limit for the First Home Savings Account (FHSA) is $40,000.
The annual contribution limit for the First Home Savings Account (FHSA) is $8,000. You may also be able to contribute up to $8,000 of unused contribution room from the previous year. That means you could contribute up to $16,000 in a given year, if you have contribution room left from the year prior.
Note: You do not start accumulating contribution room until you open an FHSA account.
Yes, you can carry forward any unused FHSA contribution room from the prior year up to a maximum of $8,000 (subject to your lifetime contribution limit of $40,000). This means that if you contribute less than $8,000 in a given year, you can contribute the unused amount next year in addition to the $8,000 annual contribution limit.
For example, if you contribute $5,000 to your FHSA in 2023, you would be allowed to contribute $11,000 in 2024 (i.e., $8,000 plus the remaining $3,000 from 2023).
You can only make contributions to your own First Home Savings Account (FHSA). Your spouse or partner can also have their own FHSA and make contributions to their account.
Attribution rules will not apply to amounts that you receive from your spouse or common-law partner that you contribute to your FHSA—and vice versa. This means that any investment earnings in your FHSA will not be added to your or your spouse’s taxable income regardless of whether you or your spouse fund the contribution, as long as they are used to purchase a qualifying home.
If you over contribute to your First Home Savings Account (FHSA), you’ll pay a 1% tax on the overcontributed amount each month until the excess amount is withdrawn, or until more contribution room becomes available.
For example, if you contribute $12,000 to your FHSA in December (and you had no unused FHSA contribution room carried forward), you’ll pay $40 (1% x $4,000 x 1 month). More contribution room would become available January 1, so at that time, the additional $4,000 would no longer be considered an overcontribution.
At this time, we do not offer RRSP-to-FHSA transfers. We’re working to make them available this summer. Thank you for your patience.
It depends. If you make a qualifying tax-free withdrawal, no taxes will be deducted from the amount, and you will not have to include the amount in your taxable income that year.
To make a qualifying withdrawal from your First Home Savings Account (FHSA) you must meet the following conditions:
You can also transfer funds from your FHSA to another FHSA, Registered Retirement Savings Plan (RRSP), or Registered Retirement Income Fund (RRIF) on a tax-free basis.
If you make a withdrawal from your FHSA for any other purpose, your withdrawal will be subject to withholding tax and the amount you withdraw will be added to your taxable income. Plus, your FHSA contribution room will not be re-instated.
Once you make a qualifying withdrawal, you will need to close your account and transfer or withdraw all funds left in your FHSA by December 31 of the following year. If you make a non-qualifying withdrawal, you will not have to close your account (unless you have had it for 15 years or are turning 71)—but your contribution room will not be reinstated.
You can make a withdrawal from your First Home Savings Account (FHSA) at any time.
Once you make a qualifying withdrawal, you can no longer make contributions. Plus, you will need to close your FHSA and transfer or withdraw all remaining funds in your FHSA by December 31 of the following year.
If you make a non-qualifying withdrawal, you will not be required to close your account, but your contribution room will not be reinstated.
The funds in your First Home Savings Account (FHSA) have to be used by December 31 of the 15th year after opening your first FHSA account or the year you turn 71, whichever comes first. If you have not used the funds in your FHSA by that time, they can be transferred tax-free to your Registered Retirement Savings Plan (RRSP) without impacting your RRSP contribution room, or to your Registered Retirement Income Fund (RRIF); otherwise, your withdrawal will be taxed.
If you withdraw only a portion of the funds from your First Home Savings Account (FHSA) to purchase your first home, you can transfer any remaining funds to your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) on a tax-free basis on or before December 31 of the year following the initial withdrawal. Otherwise, you can withdraw the remaining balance, but it will be taxed.
Check out Inspired Investor Trade and visit the Investing Academy to learn more about trading and investing in stocks, options, ETFs and more.
Take control your investments and save for absolutely anything.
You're Protected. Get 100% reimbursement for any unauthorized transactions conducted through the Online Investing platform or the RBC Mobile app.
See the GuaranteeThe Travel Value of $10,000 is based on an Air Travel Redemption from the Air Travel Redemption Schedule that is only available to Avion Elite Members. Air Travel Reward redemptions from the Air Travel Redemption Schedule start at 15,000 Avion points for a round trip short-haul flight within or to an adjacent province/territory or within or to an adjacent U.S. State with a maximum ticket price of $350. All applicable taxes, service fees and surcharges are the responsibility of the traveller.
All Avion Rewards members with the exception of Personal ION Accounts, Avion Rewards Core Product Accounts and Avion Select members may redeem Points for an RBC Travel Reward at the rate of 100 Points per $1.00 CAD to pay for all or part of your booking, including associated taxes and fees. A minimum of 1,000 Points must be redeemed. A service charge and other conditions may apply.
If you have a Personal ION Account or an Avion Rewards Core Product Account, you may redeem your Points for an RBC Travel Reward at the rate of 100 Points per $0.58 CAD to pay for all or part of your booking, including associated taxes and fees. A minimum of 2,500 Points must be redeemed. A service charge and other conditions may apply. Please refer to the Avion Rewards Terms and Conditions for a list of eligible products and respective travel redemption rates.
Redemption rates vary depending on redemption category. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, please visit avionrewards.com or call 1-800 ROYAL 1-2 (1-800-769-2512).
You must be "Eligible Client", who:
Is a resident of Canada and of the age of majority in the province or territory in which they reside as of the date the Eligible Investment Account is opened; and
Is a new investment client for:
Royal Bank of Canada ('RBC') or Royal Mutual Funds Inc. ('RMFI') and opens a new Eligible Investment Account with either RBC or RMFI within the Qualifying Period. A new investment client to RBC or RMFI is a person who does not hold a personal investment account with RBC or RMFI before the first day of the Qualifying Period.
AND/OR
RBC Direct Investing Inc. (RBC Direct Investing) and opens a new Eligible Investment Account with RBC Direct Investing within the Qualifying Period. A new investment client to RBC Direct Investing is a person who does not hold a personal investment account with RBC Direct Investing before the first day of the Qualifying Period; and
is an Avion Rewards member before May 29, 2026. For more information on eligibility visit https://www.avionrewards.com/eligibility.html
Open one or more new "Eligible Investment Account(s)" with RBC, RMFI or RBC Direct Investing between December 1, 2025, and March 31, 2026, inclusive (the "Qualifying Period"). Eligible Investment Accounts means any one of the following personal investment accounts:
| For RBC & RMFI Inc. | For RBC Direct Investing Inc. |
|---|---|
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You must meet the "Qualifying Criteria":
You must transfer or deposit at least $5,000 in Net Qualifying Contributions (defined below) to your new Eligible Investment Account(s) considered collectively across RBC, RMFI and RBC Direct Investing though:
Qualifying Net Contributions means the total of all lump sum contributions collectively deposited or transferred into your Eligible Investment Account(s) by the Contribution Deadline, less any withdrawals from any Eligible Investment Account(s) on or before February 28, 2027. For PACs, the Qualifying Net Contributions will be the annualized amount of the PAC as of the Contribution Deadline. Contributions or transfers from non-RBC affiliated legal entities and RBC Personal Banking Accounts will qualify but contributions or transfers-in from other RBC-affiliated legal entities do not qualify (including but not limited to Royal Mutual Funds Inc., RBC Direct Investing Inc., RBC InvestEase Inc., RBC Dominion Securities Inc., RBC Dominion Securities Global Inc., Phillips, Hager & North Investment Services, RBC Phillips, Hager & North Investment Counsel Inc, Royal Trust Corporation of Canada and the Royal Trust Company). If your Qualifying Net Contributions fall below the minimum required under the Offer at any time on or before February 28, 2027, you will cease to qualify to receive Avion Points under the Offer.
For new Eligible Investment Accounts held at RBC and RMFI, your Qualifying Net Contributions may only be held in "Eligible Product(s)". Eligible Product(s) means RBC Registered Savings Deposit, RMFI distributed Mutual Funds or RBC Non-Redeemable Guaranteed Investment Certificate (GICs) with terms of 2 years or longer. Canadian and US dollar Mutual Funds and GICs that are transferred to RBC and RMFI will qualify as Qualifying Net Contributions where allowed. If you contribute to multiple Eligible Products during the Qualifying Period, all the contributions and/or transfers-in (net of withdrawals and/or transfers-out) will be added together to assess the qualification for the Offer.
Securities transferred in-kind to new Eligible Investment Accounts to RBC Direct Investing, will only count towards 'Qualifying Net Contributions' if the securities are listed on a US or Canadian exchange. Options and securities not listed on a Canadian or U.S marketplace will not qualify towards Qualifying Net Contributions.
Clients will receive four payments of Avion points. One Avion points payment will be made within eight weeks after May 31, 2026, August 31, 2026, November 30, 2026, and February 28, 2027, respectively, provided the Eligible Client continues to meet the Qualifying Criteria at the time of the payment.
This offer is only available to the primary account holder of a joint account, and is only available once per Eligible Client.
This Offer may be modified, restricted, withdrawn or extended at any time without notice at the sole discretion of RBC Direct Investing, RBC & RMFI and is subject to the full terms and conditions of the Offer.
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You may only use your Avion points through RBC DI to: (1) pay for Canadian or
U.S. equity trade commissions on your eligible RBC Direct Investing accounts; or
(2) transfer points for cash contributions in CAD to your eligible RBC Direct
Investing accounts. It is your responsibility to make sure you have sufficient
contribution room within your registered plan when redeeming points for cash
contributions in CAD to your registered accounts and/or when you use your Avion
points to pay for Canadian or U.S. equity trade commissions on a registered
account. The Canada Revenue Agency may apply tax penalties for
over-contributions. RBC Direct Investing is not responsible for any such
penalties.
Earn 1 point for every $2 dollars invested plus 12,500 bonus points —up to 500,000 Avion points.
As an Avion Rewards member, you can redeem Avion points for:
Offer ends March 31, 2026. Conditions apply.
How to Get this Offer
Open one or more by March 31, 2026.
Ways to contribute:
Be an Avion Rewards member by May 29, 2026 (if you're not already a member). It’s free and easy to join.
Maintain your minimum contribution balance and/or pre-authorized contributions until February 28, 2027.
We’ll deposit your Avion points into your Avion Rewards account in four payments. Each payment will be made within eight weeks after: May 31, 2026; August 31, 2026; November 30, 2026; and February 28, 2027.
Earn 1 Avion point for every $2 dollars invested, plus 12,500 bonus points —up to 500,000 Avion points!
| Qualifying Net Contributions (CAD): | Avion points you will receive: | Value (CAD): |
|---|---|---|
| $5,000 (minimum) | 15,000 | $350 (round-trip flight for a quick getaway) |
| $45,000 | 35,000 | $750 (round-trip flight to explore North America) |
| $105,000 | 65,000 | $1,300 (round-trip flight to visit Europe) |
| $975,000 | 500,000 | $10,000 (5 round-trip flights to see the world) |
You can also redeem points for hotels, car rentals, gift cards, merchandise, cash contributions to an RBC Direct Investing account, to pay for trade commissionslegal disclaimer 9 and more!
Terms and Conditions apply. See full offer terms and conditions.
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