Registered Education Savings Plan (RESP)
Start saving for your child’s post-secondary education today and receive free government grant money to help your savings grow faster.
Grow education savings with an RESP
An RESP can hold GICs, mutual funds, stocks, bonds, ETFs, and more. Choose investments that match your child’s education timeline.
RESP GICs
Grow your savings through our RESP‑eligible short- and long-term Guaranteed Investment Certificates.
RESP mutual funds, stocks and bonds
Diversify your RESP investments like an expert with direct access to our wealth advisors.
Advantages of an RESP
A Registered Education Savings Plan lets your savings grow tax-free while government grants do some of the heavy lifting, so your child’s education fund goes further.
Get free money
The federal government adds to your RESP savings each year through the Canada Education Savings Grant.
Tax-free growth
Contributions grow tax-free inside the RESP, giving your savings more power to compound over time.
Pay less tax
When your child enrolls in post-secondary education, withdrawals are taxed at their rate, which is typically much lower than yours.
Additional grants
Families with lower incomes may also qualify for the Canada Learning Bond (CLB).
Anyone can contribute
Grandparents, relatives, and close family friends can open or contribute to an RESP in your child’s name.
Flexible if plans change
If your child doesn’t pursue post-secondary education, you have options.
RESP contribution limits
$50,000
This is the lifetime RESP contribution limit per child, regardless of how many accounts are opened or how many people contribute (parents, grandparents, relatives, or even friends).
31 years to contribute
You can make contributions to an RESP for up to 31 years from the date the plan was opened.
35 years to keep a RESP open
An RESP can remain open for a maximum of 35 years, giving your child’s savings plenty of time to grow.
Let’s plan your child’s education savings
We can help you get started with a RESP over the phone or online, and you can visit us in person at a branch.
Call us
at 1‑8006168878
Book an appointment
to meet with us virtually
Visit us
at one of our branches