Registered Education Savings Plan (RESP)
BMO Target Education PortfoliosThese portfolios are designed to meet the needs of people saving for their child’s education.
Just match your child’s year of birth to the portfolio date closest to when they plan to attend school - we look after the rest!
BMO Mutual FundsChoose from a wide range of professionally managed, diversified BMO Mutual Funds for an RESP – the funds you need to reach your goals.
Guaranteed Investment Certificates (GICs)GIC’s offer the combined benefit of principal protection and growth. The return of your original investment is guaranteed, and you’ll receive a guaranteed rate of return.
Other financing options that can lend a helping hand
What’s an RESP beneficiary and subscriber?
The beneficiary is the person who the RESP is set up for, and the subscriber is the person who first establishes the RESP and makes contributions to it.
What’s the age limit of an RESP beneficiary for adding contributions to their plan?
On a family plan, contributions can be made until the beneficiary turns 31. On an individual plan, contributions can be made up to the end of the 31st year of the plan’s existence, regardless of the beneficiary’s age.
Does the beneficiary have to be my child?
The beneficiary may be anyone in an Individual Plan and doesn’t have to be related at all to the subscriber. A subscriber could also be the beneficiary of their own plan.