Open Canada's most powerful first-home savings account with code XVJHLJ and claim a $25 CAD bonus.
The First Home Savings Account (FHSA) was introduced in 2023 and combines the best features of both the TFSA and RRSP specifically for first-time homebuyers.
RRSP benefit ✓
Contributions are tax-deductible — reduce your taxable income in the year you contribute
TFSA benefit ✓
Qualifying withdrawals for a first home purchase are 100% tax-free
You must be a Canadian resident, age 18+, with a SIN, who has not owned a principal residence this year or in the past 4 calendar years.
Click below — code XVJHLJ is pre-applied. Select FHSA during account setup.
Photo ID and SIN required. Typically 5–10 minutes.
Link an external Canadian bank account and transfer at least $100. This is both your FHSA contribution and the qualifying deposit for the bonus.
Credited within 24 hours of deposit clearing. Investable immediately, withdrawable after 180 days.
Check all items that apply to confirm your eligibility.
Code XVJHLJ · Opens in Wealthsimple
Yes. Referral code XVJHLJ applies to any new Wealthsimple account including the First Home Savings Account (FHSA). Deposit $100 from an external bank within 30 days to qualify for the $25 bonus.
The FHSA is available to Canadian residents who are at least 18 years old, have a SIN, and have not owned a principal residence in the current year or the preceding four calendar years. The FHSA has an annual contribution limit of $8,000 and a lifetime limit of $40,000.
Yes, Questrade also offers an FHSA. However, Wealthsimple's FHSA has $0 commissions on all trades, while Questrade charges $4.95–$9.95 to sell ETFs or buy stocks. Wealthsimple also offers a $25 referral bonus that Questrade does not match.