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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.

 
 

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 Income earned within the plan is not taxed until it’s withdrawn.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?

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Grow your savings faster

RESPs are tax-deferred, so investment income isn’t taxed until it’s withdrawn for your child’s education.

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Benefit from government grants

The federal government offers the Canada Education Savings Grant and Canada Learning Bond to boost your savings.

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Less tax when withdrawn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.

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Anyone can contribute

Grandparents, aunties, uncles and even friends can contribute to your child’s education savings.

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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

  • Minimum Deposit: $500

  • 1-5 year terms

  • Non-redeemable prior to maturity

  • Competitive rates guaranteed for the term

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Variable Rate Deposits

  • Redeemable at any time

  • 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?

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Grow your savings faster

RDSPs are tax-deferred, so investment income isn’t taxed until it’s withdrawn.

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Benefit from government grants

The government offers income-dependent grants to boost your savings.

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No impact to disability benefits

The RDSP is exempt from most provincial disability and income assistance benefits.

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No withdrawal restrictions

The savings can be withdrawn for any need the person with a disability has. 

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Anyone can contribute

Family, friends, and even neighbours can add funds to the savings plan.

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Flexible investing options

Your RDSP can hold a number of investments, including mutual funds.

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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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Have questions or need support?

Don’t hesitate to reach out. Our team will happily take the time to get to know you, answer any questions and help you determine the best way to reach your goals.

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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.