Registered Retirement Savings Plan (RRSP/RRIF)
Save for your secured retirement as your taxes are deferred & sheltered today
What is an RRSP (Registered Retirement Savings Plan)?
It is a retirement savings plan that you register, to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax, and the income you earn in the RRSP is usually exempt from tax as long as it remains in the plan. You generally have to pay tax when you receive withdraw from the plan. Make sure to check your RRSP contribution limit, as it is different for everyone.
RRSP GICs
Save on taxes & earn a high interest.
- Terms: 30 days to 5 years (on a daily basis)
- No minimum deposit required
- Non-redeemable, Non-cashable
- Spousal RRSP available
- Benefits may be extended for HBP (Home Buyers Plan) & LLP (Lifelong Learning Plan)
CDIC Eligible
RRSP e-GICs
Easily earn the best rate while reducing taxes
- Terms: 30 days to 5 years (on a daily basis)
- Eligibility: Customer who registered for the personal internet banking
- No minimum deposit required
- Non-redeemable, Non-cashable
- Benefits may be extended for HBP (Home Buyers Plan) & LLP (Lifelong Learning Plan)
CDIC Eligible
RRSP Term Deposit
Risk-free investment for your RRSP
- Terms: 30 days to 5 years (on a daily basis)
- No minimum deposit required
- Spousal RRSP available
- Benefits may be extended for HBP (Home Buyers Plan) & LLP (Lifelong Learning Plan)
CDIC Eligible
RRSP Savings Account
Enjoy the flexibility within your RRSP
- No terms, No minimum balance, at your service!
- Interest rate differs from Regular Savings Account rate
- Benefits may be extended for HBP (Home Buyers Plan) & LLP (Lifelong Learning Plan)
CDIC Eligible
RRSP e-Savings Account
Contribute to your RRSP in the comfort of your home
- No terms, No minimum balance, at your service!
- Interest rate differs from Regular Savings Account rate
- Benefits may be extended for HBP (Home Buyers Plan) & LLP (Lifelong Learning Plan)
CDIC Eligible
What is a RRIF (Registered Retired Income Fund)?
RRIF is essentially a tax-sheltered continuation of your RRSP. You transfer property to the RRIF from an RRSP or another RRIF before the end of the year in which you reach age 71. The minimum amount must be paid to you in the year following the year the RRIF is entered into. Earnings in a RRIF are tax-free, but the amounts paid out of a RRIF are taxable on receipt.
RRIF Term Deposit
Your retirement funds should never stop earning interest
- Terms: 30 days to 5 years (on a daily basis)
- No tax deduction within minimum withdrawal amount
CDIC Eligible
RRIF Savings Account
Your RRSP may have ended, but the tax deferral shouldn’t
- No terms, No minimum balance, at your service!
- Interest rate differs from Regular Savings Account rate
- No tax deduction within minimum withdrawal amount
CDIC Eligible