Deposits held in a First Home Savings Account (FHSA)
CDIC protects eligible deposits in a First Home Savings Account (FHSA).
Example
Julie fell in love with Ottawa while on a trip and hopes to buy a house there. To save for her first home, she opened a FHSA.
This is Julie’s FHSA portfolio. Here is and what does (✓) and does not (✗) qualify for CDIC coverage:
- $4,000 in cash deposits
- $2,000 in a GIC
- $3,000 in stocks and bonds
- $1,500 in an ETF
Total portfolio
$10,500
Eligible deposits
$6,000
Protected by CDIC
$6,000
In Julie’s FHSA portfolio, the GIC and cash deposits are eligible for coverage.
Deposit insurance is free and automatic.
See how CDIC deposit protection works and explore the different coverage categories.
Explore how deposit insurance works