RESPs & RDSPs
A Registered Education Savings Plan (RESP) and Registered Disability Savings Plan (RDSP) are government-registered plans with special tax benefits designed to support your goals.
RESP
RDSP
Registered Education Savings Plan
An RESP helps you, your family, and friends, save for your child’s post-secondary education. Income earned within the plan is not taxed until it’s withdrawn.
With tuition costs rising, it’s a great way to give your child the best start in life – boosted by government grants!
Why invest in an RESP?
Grow your savings faster
RESPs are tax-deferred, so investment income isn’t taxed until it’s withdrawn for your child’s education.
Benefit from government grants
The federal government offers the Canada Education Savings Grant and Canada Learning Bond to boost your savings.
Less tax when withdrawn
When your child begins to withdraw funds for their education, they’ll likely have little income and therefore pay less tax.
Anyone can contribute
Grandparents, aunties, uncles and even friends can contribute to your child’s education savings.
Flexible investing options
Your RESP can hold a number of investments, including term deposits and mutual funds.
Explore your RESP investment options
Cashable 1-Year Fixed Deposits
Minimum Deposit: $5,000
Redeemable at any time
Competitive rates guaranteed for the term
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Fixed Term Deposits
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Minimum Deposit: $500
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1-5 year terms
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Non-redeemable prior to maturity
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Competitive rates guaranteed for the term
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Variable Rate Deposits
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Redeemable at any time
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Automatic RESP contributions available
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Mutual Funds
Professionally managed mutual funds are offered through our partner, Credential® Asset Management.
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Ready to get set up?
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Registered Disability Savings Plan
An RDSP helps you save up to $200,000 for future financial security. Because it’s tax sheltered, any investment growth your money earns will be tax-deferred until withdrawn, ensuring the savings grow faster.
Who is eligible?
To be named on an RDSP, the beneficiary must be a Canadian resident under 60, have a social insurance number, and be eligible for a Disability Tax Credit (DTC). The DTC is granted upon application to the Canada Revenue Agency for people with a severe and prolonged disability. In most cases, an application for a DTC must include a declaration by a medical doctor as to the severity, longevity, and impact of the disability.
Why invest in an RDSP?
Grow your savings faster
RDSPs are tax-deferred, so investment income isn’t taxed until it’s withdrawn.
Benefit from government grants
The government offers income-dependent grants to boost your savings.
No impact to disability benefits
The RDSP is exempt from most provincial disability and income assistance benefits.
No withdrawal restrictions
The savings can be withdrawn for any need the person with a disability has.
Anyone can contribute
Family, friends, and even neighbours can add funds to the savings plan.
Flexible investing options
Your RDSP can hold a number of investments, including mutual funds.
Explore RDSP mutual funds
Take advantage of professionally managed mutual funds within your RDSP, offered through our partner, Credential® Asset Management.
Ready to get set up?
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Save for your dream retirement
Whatever your retirement goals are, an RRSP will help you save the money you need to reach them.
Save faster for any goal
A car, a vacation, a home – no matter your goal, you can save faster to reach it with a Tax Free Savings Account.
Investing calculators
Explore how smart investing can help you reach your goals faster.