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Friday March 24, 2017

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RESP Institutions (Ontario)

Banks

Bank of Montreal (BMO)

Royal Bank of Canada (RBC)

Scotiabank

Toronto-Dominion Bank, The (TD Canada Trust)

Organizations

Canadian Scholarship Trust Foundation

Children’s Educational Foundation of Canada

Heritage Education Foundation

Bank of Montreal (BMO)

http://www.bmo.com/

You may open an RESP through the Bank of Montreal by applying online, by phone, or in person.

You will need:

your Social Insurance Number

Social Insurance Number of the beneficiary(ies)

one piece of government issued identification (a provincial health insurance card can be used to confirm identity except in those provinces where it is not permitted)

your BMO Bank of Montreal account numbers or a void cheque from non-BMO bank accounts

For more information, please visit http://www.bmo.com/home/personal/banking/investments/education-savings/open-an-resp

Royal Bank of Canada (RBC)

http://www.rbcroyalbank.com/

You can choose to invest your RESP in a basic savings deposit, GICs or mutual funds. Tailor your investment for growth potential, interest income or a balance between the two. You may change beneficiaries, and you have 25 years to use your RESP contributions.

Royal Bank also offers RESP Gift Cheques you may use to invest in a child’s future education. Gift cheques may be deposited into RBC RESP accounts.

For more information, please visit http://www.rbcroyalbank.com/resp/why-choose-rbc-resp.html

Scotiabank

http://www.scotiabank.com/ca/

The 2.00% annual interest rate will be applied from November 1, 2012 to January 31, 2013 to the excess of the daily balance in the Investment Cash portion of a Canadian dollar RESP over the closing balance in that account on October 31, 2012. For amounts not eligible for this offer, an interest rate of 0.15% will apply on Canadian dollar cash balances less than $5,000 and 0.25% on Canadian dollar cash balances $5,000 or greater.

Other conditions apply. Visit your branch for the full Terms and Conditions of this offer. Interest will be calculated daily and paid monthly. All rates are subject to change without notice.

For more information, please visit http://www.scotiabank.com/ca/en/0,,75,00.html or your local branch.

Toronto-Dominion Bank, The (TD Canada Trust)

http://www.tdcanadatrust.com/

Open a TD Registered Education Savings Plan (RESP) by visiting your local branch. Investment options available include Individual Beneficiary and Family Beneficiary plans. You may choose from fixed rates or Market-Growth GICs.

For more information, please visit http://www.tdcanadatrust.com/products-services/investing/resp/resp-index.jsp#what-does-td-offer

ORGANIZATIONS

Canadian Scholarship Trust Foundation

http://www.cst.org/en/

CST Plans

Group Savings Plan

Family and Individual Saving Plans

Group Savings Plan

The CST Group Savings Plan is available for children under 13 years of age. The plan pools your money with savings from other families on a contribution schedule designed for your budget. Once your plan is registered as an RESP, it is eligible for the Canadian Education Savings Grant (CESG). CTS invests your principal and when the plan matures, the principal can be returned right away or reinvested to earn more income. If all contributions are made and remain to maturity, CTS will return a minimum of half the enrollment fee to be paid back installments.

Qualified students are eligible for up to four education assistant payments, one for each year of post-secondary education.

Family Savings Plan

Children of any age

Can be used towards the post-secondary education of multiple beneficiaries so long as they are siblings and under the age of 21

EAPs accessible after enrollment in eligible studies

Flexible contribution amount, frequency and study options

Control timing and amount of payouts

Option to transfer income to the subscriber’s Registered Retirement Savings Account (RRSP) or receive an Accumulated Income Payment (AIP) or starting in 2014, transfer to Registered Disability Savings Plan (RDSP)1

Facilitates collection of Canada Learning Bond without obligation of further contributions

Individual Savings Plan

Children of any age

Can be used towards the post-secondary education of any beneficiary, including self

Flexible contribution amount, frequency and study options

EAPs accessible after enrollment in eligible studies

Control timing and amount of payouts

Option to transfer income to the subscriber’s Registered Retirement Savings Account (RRSP) or receive an Accumulated Income Payment (AIP) or starting in 2014, transfer to Registered Disability Savings Plan (RDSP)1

Facilitates collection of Canada Learning Bond without obligation of further contributions

For more information, please visit http://www.cst.org/en/our-plans

Children’s Educational Foundation of Canada

http://www.cefi.ca/

CEFI Plans

Group Plan

Achievers Plan

Self-Initiated Option Plan

Group Plan

Your contributions will be pooled with those of other Subscribers whose Beneficiaries have a common year of eligibility. Contribution options include, online banking, preauthorized payments from any bank account, credit card – Visa, MasterCard, or American Express, cheque, money order or draft.

The Group Option Plan is best suited to investors willing to make a long-term financial commitment.

Principal less fees is returned

Receive all eligible Government Grants plus income earned

Receive all benefits with either a 2, 3 or 4 year program

Achievers Plan

This is an individual pooled plan, that allows you to receive all of your net principal, investment income, grants, investment income on grants, and discretionary top up and discretionary return of enrollment fee in one lump sum upon enrollment in a recognized post-secondary institution. However, discretionary payments are not guaranteed.

You may enroll a beneficiary at any age but substitution of the beneficiary is subject to the Income Tax Act. If not used for education, roll-over interest to RRSP or withdraw as income as per Income Tax Act.

Many optional insurance benefits available

Eligible to receive Government Grants

Earn and redeem AIR MILES® reward miles

Eligible for part-time studies. Minimum 3 week course of not less than 10 hours per week

Self-Initiated Option Plan

Individual plan with the most flexibility. Allows deposits at any time and any denomination up to $50,000. This plan allows you to receive all of your net principal, investment income, grants, and investment income on grants in one lump sum upon enrollment in a recognized post-secondary institution. Beneficiaries may be enrolled at any age but substitution of beneficiary is subject to the Income Tax Act. If not used for education, roll-over interest to RRSP or withdraw as income as per Income Tax Act.

Eligible to receive Government Grants

Earn and redeem AIR MILES® reward miles

Eligible for part-time studies. Minimum 3 week course of not less than 10 hours per week

For more information, please visit http://www.cefi.ca/en/cet-group-plan

Heritage Education Foundation

http://www.heritageresp.com/

Heritage Education RESP Plans

Heritage Plan

Impression Plan

Group/Employee Plan

Heritage Plan

The Heritage Plan is the Registered Education Savings Plan taking all contributions made by subscribers and pooling them together with applicable government grants. The funds are then invested to earn a return.

The applicable government grants that may be available, depending upon your residency through a Heritage Plan include the Canada Education Savings Grant (CESG), the Canada Learning Bond (CLB) and provincial programs, such as the Alberta Centennial Education Savings Grant (ACES) and the Quebec Education Savings Incentive (QESI).

Impression Plan

May be started for a beneficiary of any age. Make contributions at any time to the The Impression Plan is a Canadian RESP. Once the beneficiary is ready for post-secondary education, withdraw your principal, all government grant money, and all interest you've earned.

The Impression Plan invests your contributions into investments including Guaranteed Investment Certificates, Federal, Provincial and Municipal Bonds, Corporate Debt Securities, Term Deposits, Government Treasury Bills, Mortgage-backed Securities and Variable Rate Securities.

If the beneficiary doesn't pursue postsecondary education then your contributions will be returned to you, and any interest you earn may be transferred to your Canadian RRSP or your spousal RRSP.

Group/Employee Plan

For employers wishing to give employees a Group/Employee Option for an RESP. This is a pooled fund to plan for their children’s post-secondary education.

For more information, please visit http://www.heritageresp.com/resp-plans/choose-your-plan

 
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