Royal Bank of Canada

Benefits of an RESP are tax deferral and government’s assistance. Tax deferral means that interest income and investment growth will not be taxed as long as the funds remain in the plan. When someone withdraws from an RESP, it is taxed in hand of the student which shows that there will be either little tax or no tax at all. From this plan, I will get direct help from the government, which the government will match 20% on the first $2500 contributed annually to an RESP. the maximum of money that the government will give us as a student is up to $7200, this worth a lot. CLB as know as Canada Learning Bond would also provide a $500 for children and families who are under the national child benefit supplement and the ones born after December 2003. Even though it is only $500, but as we keep invest in RESP, more money will come out of it because of the original amount. I would choose RBC RESP is because RBC fund and RBC target education fund work well with longer term investment goals like saving for a children’s education. Plus it gives a flexible time period. As well as, RBC provide an RESP gift cheque which can invest in a student’s future. Not only this, RESP-Matic helps RESP grow faster and as a benefit back, we will earn more in this plan. I would suggest choosing RBC RESP and talk to an RBC advisor for more detail.I’m a great place for you to tell a story and let your users know a little more about you.