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Benefits
Flexibility while you save for your future
Invest at your own pace
With a low minimum investment of only $25, you can start your RRSP savings now while you decide what to do in the long term.
Safe and flexible, with easy access to your money
Your principal and interest are always guaranteed and if something comes up and you need to access the funds in your RRSP, you can make withdrawals at any time.
Grow your savings faster
Tiered interest is calculated daily and paid to you monthly. You can also set up a Regular Investment Plan to maximize your compound interest.
No fees
You don’t pay any fees on your account, unless you transfer all or part of your RRSP funds to another financial institution ($100 fee applies).
Rates and fees
How we’re helping you save
Interest
- Tiered interest rate structure with rates that increase as your savings grow
- Interest is calculated on the daily closing balance and is paid monthly
Current RRSP DISA rates
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Retirement savings calculator
Discover your retirement goal
Unsure how much you need to save for retirement? Our calculator can help bring clarity and offer tips on saving for the retirement of your dreams.
Resources
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RRSP vs TFSA
Make the most of tax-sheltered plans
An RRSP and a TFSA can help you meet your financial goals
| RRSP Registered Retirement Savings Plan |
TFSA Tax-Free Savings Account |
|---|---|
| Long-term goal, i.e. retirement | Short-term goals |
| Tax deduction for contribution | No tax deduction for contribution |
| Withdrawals are taxable income | Withdrawals are tax-free |
| Withdrawals made when you are retired will potentially be taxed at a lower rate | Withdrawals can be re-contributed in a later year |
| Each calendar year you can contribute up to your RRSP maximum contribution limit for the year; unused contribution room can be carried forward. | Each calendar year, you can contribute up to the TFSA dollar limit for the year ($5,500 in 2016); unused contribution room can be carried forward. |
For details, read "Should You Contribute to Your TFSA or Your RRSP?" Find out more about RRSPs and TFSAs.
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