1. Log in to CIBC Online Banking
• Go to the official CIBC Online Banking website: CIBC Online Banking
• Enter your User ID and Password to log in.
• If you’re not registered for online banking, follow the registration steps on the website.
2. Navigate to Investments Section
• Once logged in, locate the “Investments” section in the main menu or dashboard.
• Click on “Open a New Account.”
3. Select FHSA Account Type
• From the list of available accounts, choose “First Home Savings Account (FHSA).”
4. Complete the Application Form
• Fill in the required personal and financial information, including:
• Full name
• Address
• SIN (Social Insurance Number)
• Employment details
• Income and investment experience
• Verify that you meet the eligibility criteria:
• Be a Canadian resident
• Meet the age of majority in your province
• Be a first-time homebuyer
5. Choose Account Preferences
• Select the type of FHSA you want (Self-Directed FHSA or Managed FHSA)
• Choose your preferred investment strategy (e.g., savings, ETFs, mutual funds).
6. Review and Confirm
• Carefully review all entered information.
• Read and accept the terms and conditions.
• Click “Submit” to finalize your application.
7. Set Up Contributions
• After the account is opened, set up your contributions:
• One-time contributions
• Recurring automated contributions
• Ensure your contributions align with the annual FHSA limit ($8,000 per year, up to a $40,000 lifetime limit).
8. Verify and Monitor Your Account
• Once the FHSA is set up, you’ll receive a confirmation email or notification.
• Log in regularly to your CIBC Online Banking or CIBC Mobile App to monitor your FHSA balance and investments.
Alternative Option: Through CIBC Investor’s Edge or Imperial Investor Service
• If you prefer a self-directed or advisor-managed FHSA, visit:
• CIBC Investor’s Edge FHSA
• CIBC Imperial Investor Service FHSA
Need Help?
• Call CIBC Customer Service at 1-800-465-2422
• Visit your nearest CIBC branch for in-person assistance.
