Young children in graduation caps

Registered Education Savings Plan (RESP)

Get help with tuition

Discover matching government contributions and tax-sheltered earnings.

Join the 59,000+ members who bank with us!

Discover the benefits of RESPs!

  • Enjoy matching government contributions
  • Pay less tax
  • Discover flexible redemption options
  • Avoid hidden fees

See how much you can save!

Discover RESP matching contributions

Through the Canada Education Savings Grant (CESG), the Government will match 20% of each dollar you put into an RESP account (up to $2,500/year to a lifetime maximum of $7,200). That’s thousands of dollars of free tuition!

Save money on tax

You won’t pay any taxes on the interest you earn in your RESP. It’s a tax-sheltered investment to help you save more for your child’s education.

Enjoy easy and flexible redemption options

Redeeming RESP funds is as simple as providing proof of enrollment. If your child chooses not to go to college after they graduate, no problem:

  • They have 35 years from the time the plan was opened to use the funds.
  • A sibling going to school can use the funds.
  • You can get your principal contributions back and roll over the interest into your RRSP. 

Enjoy free banking

There’s no charge for investing in an RESP. And you’ll always have free access to friendly advisors who can help you reach your education savings goals.


Our No-Fee Bank Account has no monthly fees and no balance requirements. Save as much as $360/year in fees!


You earn cash dividends simply by doing your everyday banking with us. The more you bank with us, the more you benefit.


Your business helps us support your community. We allocate 2% to 4% of pre-tax profits/year to our communities.

Female call centre representative

Need help?

Ask an Advisor

No jargon, no hidden fees, and no pressure - only smart advice!

RESP Frequently Asked Questions?

RESPs are available to any child who is a Canadian resident with a Social Insurance Number.

No, they’re not. However, money paid out of an RESP is paid, and taxed, to the student. Because most students make low to no income, they can usually withdraw RESP funds tax-free. 

The lifetime contribution limit is $50,000 per child. The Canada Education Savings Grant (CESG) will only match a lifetime maximum of $7,200 per child.

Added Resource

You can also view our consolidated RESP brochure (pdf).

Help your child succeed

Get thousands of dollars to help with tuition costs. Start building your child’s future today!

Rates subject to change without notice.

Calculators on the site are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please contact us directly to seek personalized advice from qualified professionals for all personal finance issues.