Join us

Types of RESPs

Use this overview to compare Registered Education Savings Plans (RESPs) and choose the RESP investment option that’s right for you.

RESP TypeOverviewKey Features

RESP savings account

A good choice for short-term education savings, an RESP savings account lets you accumulate savings and earn a competitive interest rate until you decide on a longer-term investment.

  • No investment minimum
  • Earn a higher interest rate as your deposit grows
  • Make deposits or access your cash at any time

RESP non-redeemable term deposit

With a minimum $500 investment, you can earn a guaranteed return and competitive interest rates in exchange for locking your investment into this RESP term deposit.

  • Minimum investment of $500 required
  • Enjoy a competitive interest rate compounded annually
  • Choose terms from 1 to 5 years

RESP escalating term deposit

This 3-year or 5-year investment offers an interest rate that escalates every year, giving you the opportunity to earn more while keeping your investment safe.

  • Get 100% protection for your investment principal*
  • Minimum investment of $500 required
  • Choose from a 3 or 5-year investment
  • Could earn a higher interest rate than a regular term deposit of the same length

RESP mutual funds**

Choose from a wide range of professionally managed mutual funds to diversify your RESP achieve your investment goals.

  • Get expert, unbiased advice from qualified investment professionals
  • Enjoy the potential for higher returns than those offered by other RESP investments

*By the Credit Union Deposit Insurance Corporation of British Columbia
**Please read the Credential disclosure and mutual funds disclaimer.

** Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.