An RESP is available in both short and long terms and requires a minimum investment of $500. 

What you need to know 

• Non-Redeemable, registered

• Short term: 30-59, 60-89, 90-179, 180-269 or 270-364 days

• Access to funds at maturity only¹

• Short term interest is paid at maturity, long term interest is paid annually and at maturity date

• Automatic reinvestment at current rate²

• No annual contribution limits

• Federal government grant contributions are available 

• Earn tax sheltered, compound interest at a guaranteed rate

• Beneficiaries must be Canadian residents and have a valid Social Insurance Number

• There is a lifetime contribution maximum of $50,000 for each beneficiary

• Plans must be terminated by the 35th year that the plan was opened

Rates 

Short term

• ​​30 - 59 days → 0.10%

• ​​60 - 89 days → 0.20% ​

• ​​90 - 179 days → 0.25% ​

• ​​180 - 269 days → 0.30% ​

• ​​270 - 364 days → 0.35%​

Long term

• ​​1 year → 3.65% ​

• ​​2 years → 3.85% ​

• ​​3 years → 3.85% ​

• ​​4 years → 3.85%​

• ​​5 years → 3.85%​

Fees

• Transfer out: $100 

• Partial transfer out⁴: $195

This non-redeemable, registered RESP requires no minimum investment.

What you need to know

• Access to funds: fully or partially cashable at any time¹

• Interest is calculated on the daily closing balance³ and is paid semi-annually on June 30 and December 31

• No annual contribution limits

• Federal government grant contributions are available

• Earn tax sheltered interest

• Beneficiaries must be Canadian residents and have a valid Social Insurance Number

• There is a lifetime contribution maximum of $50,000 for each beneficiary

• Plans must be terminated by the 35th year that the plan was opened

Rates

• ​​Variable Rate → 1.50%​

Fees 

• Transfer out: $100 

• Partial transfer out⁴: $195