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 Type | Overview | Key Features |
|---|---|---|
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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. |
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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. |
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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. |
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RESP mutual funds** |
Choose from a wide range of professionally managed mutual funds to diversify your RESP achieve your investment goals. |
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*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.