Two more major Canadian banks begin offering first-home savings account

The First Home Savings Account (FHSA) program was launched earlier this year by the Canadian government to help more Canadians enter home ownership. Two of Canada’s Big Six banks, Scotiabank and TD Bank, are now offering the FHSA, a tax-free account that allows first-time home buyers aged 18-71 to save up to $40,000 for a down payment. The program has been met with overwhelming success, with more Canadians availing of the FHSA than expected.

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