Benefits of an RESP

An RESP is a tax-sheltered plan to help you save for your child’s post-secondary education.

  • Contribute up to 50,000 per child until 31 years after having opened the account
  • Supplement your contributions with federal government grants
  • Grow your investment tax-free until withdrawn

Why open a CIBC Investor Services RESP

Build your portfolio with your advisor

Pay no annual administration fees

Get access to government grants

Government grants





Basic Canada Education Savings Grants (CESG)

  • 20% on the first $2,500 contributed to an RESP each year (maximum $500 per beneficiary)
  • CESG can be carried forward up to a maximum of $1,000 per year
  • Lifetime maximum of $7,200 per beneficiary

Additional CESG


  • 10% or 20% on the first $500 contributed to an RESP each year, depending on family income
  • Paid in addition to Basic CESG

Canada Learning Bond (CLB)


  • $500 when you open an RESP
  • $100 in subsequent years for up to 15 years

Quebec Education Savings Incentive


  • 10% of the net contributions paid into it over the course of the year up to $250
  • Some families may qualify for an additional amount of up to $50

How do I open a CIBC Investor Services Account


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Frequently asked questions