Give your children choices...
With the rising costs of higher education, planning now for your child or grandchild’s post-secondary education is important. A Registered Education Savings Plan (RESP) allows you to contribute to an investment portfolio that will help pay for your child’s post-secondary education.
By investing in a RESP, you can earn an instant 20% (on up to $2,500 per year per child) with the Canada Education Savings Grant.
Planning now for your child’s post-secondary education will give your family more choices in the future. Community Savings offers a variety of investment products to increase the earning power of your RESP. Talk to us today , to start saving for your child’s future.
RESP Options
Non-Redeemable GIC
Short term 6 to 11 month terms
· minimum deposit of $500
· interest compounded at maturity
· competitive fixed interest rate
Non-Redeemable GIC
Long term 1-7 year terms
· minimum deposit of $500
· interest compounded annually
· competitive fixed interest rate
Variable Savings
· no minimum initial deposit
· eligible for monthly contributions
· tiered rate of interest calculated on closing daily balance
· interest compounded quarterly
Canada Education Savings Grant (CESG)
The federal government encourages education savings by contributing to RESPs with the Canada Education Savings Grant (CESG). Your RESP earns an immediate return of 20% on contributions up to $2,500 per year, per child for children under 18 years of age. Subscribers may carry forward unused CESG amounts. The grant funds are deposited in your RESP investment. |
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