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Give the gift of knowledge with an RESP.

One of the best ways to save for a child’s post-secondary education is through a Registered Education Savings Plan (RESP). Whether you want to save for your own children, your grandchildren, a niece, nephew, or family friend, an RESP offers flexibility, tax-deferred investment growth and direct government assistance to help you save for a child’s education.

  • Interest income and investment growth earned within an RESP are not taxed as long as the funds remain in the plan.
  • The Canada Education Savings Grant (CESG) matches 20% on the first $2,500 contributed annually to a maximum of $500 a year ($7,200 overall) for a child under the age of 18, plus possible catch-up grants.
  • Incentives are also available for qualifying families through the Alberta Centennial Education Savings (ACES) Plan and the Quebec Education Saving Incentive (QESI). Some children are also eligible for a $500 Canada Learning Bond (CLB) with an additional $100 a year up until the age of 15.

Key Benefits of an RBC RESP

Tailored Advice. Your advisor will take the time to understand the goals for your child’s education and recommend the best investment strategy to meet those goals.

Investment Choice. With an RBC RESP, you can invest in RBC Savings Deposits, RBC Guaranteed Investment Certificates (GICs) and RBC Funds, including RBC Target Education Funds.

Easy to Contribute. Saving is quick and simple when you use the RBC RESP–Matic® plan to make regular, automatic contributions.

Flexibility. An RBC RESP comes with built-in flexibility—for example, it’s easy to change beneficiaries if the original beneficiary does not pursue a post-secondary education.

Cost Savings. There is no charge to open an RBC RESP and there are no annual administration fees.


Talk to an Advisor

Call or visit us today to open an RESP or to speak with an RBC advisor about the right investment strategy for your young scholar's future.

 Call 1-800-463-3863 Visit Your Local Branch (opens new window)


Talk to an Advisor

An RBC advisor can help you plan an investment strategy for your young scholar's RESP.

Call 1-800-463-3863


Download Your FREE Guide

View our guide for information on your education savings options, including RESPs.

Download Guide (opens PDF in new window)


RBC® Target Education Funds

Which RBC Target Education Fund is right for you?

One fund. One date. One goal.
RBC Target Education Funds are a smart and easy way to save for a child’s post-secondary education. They are designed for anyone who is uncertain of the best way to invest or who does not have the time to do it themselves. To start saving, you simply select the fund that is closest to the child’s target education date.

A portfolio designed to grow and then preserve capital
RBC Target Education Funds are made up of a portfolio of RBC Funds and feature an asset mix that evolves over time, with a greater weighting in equities in the early years and a more conservative asset mix favouring fixed income investments as the child's target education date approaches. The advantage is an investment that provides growth potential up front to help keep pace with the rising cost of education and, as the target date approaches, each fund becomes more conservative, reducing both volatility and the potential for erosion of capital.




Help ensure that a child’s education receives the priority it deserves by making ongoing contributions through an RBC RESP–Matic. With an RESP–Matic, you contribute to a Registered Education Savings Plan (RESP) regularly and automatically.

Here are a few reasons to start an automatic savings plan:

  • Convenience. Your contributions are automatically debited from your bank account at RBC Royal Bank® or another financial institution.
  • Flexibility. You decide how much and how often you want to contribute–weekly, monthly, etc.
  • Growth Potential. As the chart(1) illustrates, even small monthly RESP contributions add up quickly over periods of 10, 15 and 21 years when they are supplemented by the Canada Education Savings Grant (CESG).

1) Calculations are for illustrative purposes only and are not intended to reflect future values or returns on investment from any mutual fund investment. Based on 7% annual compound return, these calculations also assume that the contributions are made at the beginning of every month, up to a lifetime maximum of $50,000 per child.