Education Savings (RESP) Daily Interest Savings Account

Easy and affordable way to make regular contributions to your child's RESP.

Request More Information


  • Adding this item to cart will notify us to connect you with the right expertise
  • You can also call us at
    1 800 332 8383

You May Also Like

Details

Overview

Save money for your child's post-secondary education. Set it and forget it! Enjoy the ease of saving — regularly. You set the amount to save from your pay cheque, and choose from weekly, bi-weekly or monthly contributions. See your money grow with little effort!

Thanks to the Canadian Education Savings Grant (CESG), the federal government supplements RESP contributions, matching up to 20% of your annual contribution (to a maximum of $500 per beneficiary per calendar year.) Other grants are available as well.

To set up an RESP and receive government grant money, your child needs a birth certificate and a social insurance number (SIN).

Pricing

  • Interest earned
  • Fees
    No fees.
  • Investment Plan
    • An RESP is a tax-deferred savings plan that makes it easier to save money for a child's post-secondary education. Current rules allow you to contribute a lifetime maximum of $50,000 per child. There is no annual contribution limit.

Additional Information

  • Other features
    • You can choose from individual plans (one beneficiary) or family plans (multiple beneficiaries)
    • Anyone can contribute to a child's RESP, not just the parents of the child.
    • All money in the plan grows tax-free until it' s withdrawn, and when your child starts using the money for school, only the accumulated interest is taxable as income. If your child decides not to attend post-secondary, you can:
      • Designate an alternate beneficiary
      • Transfer the income earned (up to a maximum of $50,000) into an RRSP, provided there is unused contribution room in the RRSP
      • Withdraw the funds
      • Donate the income earned to a post-secondary institution

Details

Overview

Save money for your child's post-secondary education. Set it and forget it! Enjoy the ease of saving — regularly. You set the amount to save from your pay cheque, and choose from weekly, bi-weekly or monthly contributions. See your money grow with little effort!

Thanks to the Canadian Education Savings Grant (CESG), the federal government supplements RESP contributions, matching up to 20% of your annual contribution (to a maximum of $500 per beneficiary per calendar year.) Other grants are available as well.

To set up an RESP and receive government grant money, your child needs a birth certificate and a social insurance number (SIN).

Pricing

  • Interest earned
  • Fees
    No fees.
  • Investment Plan
    • An RESP is a tax-deferred savings plan that makes it easier to save money for a child's post-secondary education. Current rules allow you to contribute a lifetime maximum of $50,000 per child. There is no annual contribution limit.

Additional Information

  • Other features
    • You can choose from individual plans (one beneficiary) or family plans (multiple beneficiaries)
    • Anyone can contribute to a child's RESP, not just the parents of the child.
    • All money in the plan grows tax-free until it' s withdrawn, and when your child starts using the money for school, only the accumulated interest is taxable as income. If your child decides not to attend post-secondary, you can:
      • Designate an alternate beneficiary
      • Transfer the income earned (up to a maximum of $50,000) into an RRSP, provided there is unused contribution room in the RRSP
      • Withdraw the funds
      • Donate the income earned to a post-secondary institution

Request More Information


  • Adding this item to cart will notify us to connect you with the right expertise
  • You can also call us at
    1 800 332 8383

You May Also Like