First Home Saver Account

After opening a First Home Saver Account you can deposit the amount in your account instantly. You have to keep your savings and investment in your account at least for four financial years. However it’s not compulsory that these four years must be in a row. The amount balance cap for the First Home Saver Account is $75,000.

You can invest and save your money until it reaches the balance cap. After you achieve the balance cap only outstanding Government contributions may be added to your account. Your account remains operating until you purchase a home or you turn sixty five year of age.