Education Savings (RESP) Springboard GIC

There are enough risks in life without risking your hard-earned money. Secure and grow your money with a Guaranteed Investment Certificate.

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 with the tax deferral advantages of an RESP. And create a balanced investment portfolio with the safety and security features of a Springboard GIC.

You get competitive interest rates, flexible terms and interest frequencies. And, 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
  • Term Range
    3 or 5 years.
  • Minimum Balance
    • Your original investment must be a minimum of $500.
  • Cashability
    Cashable on each anniversary date.
  • 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    • All money in the plan grows tax-free until it's withdrawn, and when your child starts using the money for school, only the accumulated interest is taxable as income.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 with the tax deferral advantages of an RESP. And create a balanced investment portfolio with the safety and security features of a Springboard GIC.

You get competitive interest rates, flexible terms and interest frequencies. And, 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
  • Term Range
    3 or 5 years.
  • Minimum Balance
    • Your original investment must be a minimum of $500.
  • Cashability
    Cashable on each anniversary date.
  • 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

Important Information

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