Planning for their future.

A Registered Education Savings Plan (RESP) is a government approved plan for the purpose of providing post-secondary education funding for a beneficiary. Income earned within these plans is not taxed until it is withdrawn.

Eligible deposits (up to $2,500 annually) may qualify for a 20% matched CESG government grant (up to $500 annually).

Funds are invested in a high-interest, variable rate account which includes the following features: 

• minimum amount is $500
• interest calculated on daily closing balance
• interest paid to plan semi-annually; June 30 and December 31
• funds are transferable at any time, subject to a fee
• any new/subsequent deposits are processed twice a year; May 15 and November 15
• applications for matching CESG grant funds are processed automatically; grant funds usually received in June and December

Have you heard about the Canada Learning Bond? Click here to learn more and see if you are eligible.