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Popular Investment Plans in Canada

Your future is important. Whether you’re here to stay or in Canada just for a while, with RBC you can invest in Canada’s popular investment plans to help you save, grow and protect your money.

Tax-Free Savings Account (TFSA)

How can I use it?

Save for anything you want in the next few years⎯an emergency fund, a car, renovation or retirement.

What is it?

A registered savings plan where investment earnings and withdrawals are tax-free41.

  • Canadian residents
  • Permanent residents/landed immigrants
  • Foreign workers42
  • International students

Eligibility requirements:

  • Have reached age of majority in your province of residence
  • Have a Social Insurance Number

Are contributions tax-deductible?

No

Do savings grow tax-free or tax-deferred?

Tax-free41

Are withdrawals taxed?

Never

What investment products can I hold in it?

  • Cash
  • GICs
  • Mutual funds
  • Savings deposits
  • Stocks, bonds, Exchange-Traded Funds (ETFs) and more46

Annual contribution limits

$6,000 for 2019 (subject to change) plus any unused contribution room from previous years54

Do I need to earn an income to contribute?

No

Registered Retirement Savings Plan (RRSP)

How can I use it?

Set money aside now, while you’re still working, to use when you retire.

What is it?

A registered investment plan where investment earnings are tax-deferred until retirement, and contributions are tax-deductible.

  • Canadian residents
  • Permanent residents/landed immigrants
  • Foreign workers44
  • International students44

Eligibility requirements:

  • Have earned income and file an income tax return in Canada
  • Under age 71 (you can contribute until December 31 of the year you turn 71)
  • Have available contribution room

Are contributions tax-deductible?

Yes⎯contributions reduce your taxable income

Do savings grow tax-free or tax-deferred?

Tax-deferred, until withdrawal

Are withdrawals taxed?

Yes⎯withdrawals are added to taxable income the year the money is withdrawn

What investment products can I hold in it?

  • Cash
  • GICs
  • Mutual funds
  • Savings deposits
  • Stocks, bonds, Exchange-Traded Funds (ETFs) and more46

Annual contribution limits

18% of previous year's earned income, less any pension adjustment, up to the maximum annual contribution limit45

Do I need to earn an income to contribute?

Yes

Registered Education Savings Plan (RESP)

How can I use it?

Save for a child’s post-secondary education costs.

What is it?

A registered investment plan where investment earnings are tax-deferred. Some contributions are eligible for government incentives.43

  • Canadian residents
  • Permanent residents/landed immigrants
  • Foreign workers44
  • International students44

Eligibility requirements:

  • Have a Social Insurance Number (Canadian residency not required)

The beneficiary of an RESP (or the student), must:

  • Be a Canadian resident or permanent resident/landed immigrant
  • Have a Social Insurance Number

Are contributions tax-deductible?

No

Do savings grow tax-free or tax-deferred?

Tax-deferred,43 until withdrawal

Are withdrawals taxed?

May be taxed at a lower rate, or not taxed at all, when paid out to the beneficiary (or student) for their education costs

What investment products can I hold in it?

  • Cash
  • GICs
  • Mutual funds
  • Savings deposits
  • Stocks, bonds, Exchange-Traded Funds (ETFs) and more46

Annual contribution limits

No annual limit, but there is a lifetime contribution limit of $50,000 per beneficiary

Note: There are also government grants and bonds that you may be able to take advantage of to grow your child’s savings faster

Do I need to earn an income to contribute?

No

Non-Registered Investment Account

How can I use it?

Save for any reason in a flexible account that gives you easy access to your money.

What is it?

A non-registered investment account that you can contribute any amount to and withdraw from when needed.

  • Canadian residents
  • Permanent residents/landed immigrants
  • Foreign workers
  • International students

Eligibility requirements:

  • Have reached age of majority in your province of residence
  • Have a Social Insurance Number

Are contributions tax-deductible?

No

Do savings grow tax-free or tax-deferred?

Investment income, interest and capital gains are taxed

Are withdrawals taxed?

Yes

What investment products can I hold in it?

  • Cash
  • GICs
  • Mutual funds
  • Stocks, bonds, Exchange-Traded Funds (ETFs) and more46

Annual contribution limits

No limit to how much you can contribute

Do I need to earn an income to contribute?

No

Note: The chart above is intended for general information purposes only. It should not be regarded as comprehensive or a substitute for professional advice. For complete details on eligibility, contributions, withdrawals and more, please talk to an advisor.

Investment Products at RBC

To protect your initial investment or explore opportunities to grow your money, you can choose from our broad lineup of products, including:

Savings Deposits

A savings deposit is simple and safe, giving you easy access to your money and guaranteeing your original investment (principal) and the interest you earn.

May be right for you if:

  • You want to make a last-minute contribution to a registered plan
  • You’re not sure how you want to invest your money
  • You're looking to start saving in a registered account/plan

Guaranteed Investment Certificates (GICs)

A GIC is a secure fixed-income investment that guarantees 100% of your original investment, while earning interest at a fixed or variable rate, or based on a specific formula.

May be right for you if:

  • You want the security of knowing that 100% of your original investment is protected
  • You seek competitive rates that are guaranteed for the full term of your investment, including preferred rates for newcomers16
  • You’re looking for more growth potential than a savings deposit

Mutual Funds

A mutual fund is an easy way to invest in a pool of stocks, bonds and other investments that is managed on your behalf by a professional money manager.

May be right for you if:

  • You want to benefit from the expertise of a professional money manager
  • You’re looking to diversify your investments (a strategy to help reduce risk by holding investments across a variety of regions, sectors, industries and issuers)
  • You’re looking for more growth potential than a savings deposit or GIC
  • You want ease and convenience

Exchange-Traded Funds (ETFs)46

An ETF is similar to a mutual fund, except an ETF trades like a stock on an exchange. Like a mutual fund, you can buy ‘units’ in an ETF to own a proportional interest of a pool of assets (such as stocks or bonds).

May be right for you if:

  • You’re looking for instant diversification
  • You prefer their lower fees compared to other types of investments
  • You need the flexibility to easily buy and sell

Stocks46

Stocks (or equities) let you purchase a small part of an individual company. You can participate in and benefit from the company’s growth, and potentially receive tax-efficient dividend income and capital gains.

May be right for you if:

  • You’re comfortable with fluctuating returns
  • You want the potential for greater long-term returns compared to cash and fixed-income investments like GICs
  • You’re looking to earn dividends and capital gains

Bonds46

Bonds are conservative fixed-income investments issued by a company or government. When you buy a bond, the bond issuer pays you interest for a specific time period and repays your initial investment when the bond matures.

May be right for you if:

  • You want to reduce the overall risk in your investment portfolio
  • You want a relatively safe investment

Ways to Invest at RBC

There are a number of ways you can invest with us here at RBC. Not sure what’s right for you? No problem—we can help guide you!

With an RBC Royal Bank advisor

Whether you are saving for retirement, a big purchase, or your child’s education, RBC Royal Bank advisors and financial planners can provide you with holistic financial advice from goal planning to investment decisions. As an RBC Client you have access to MyAdvisorAnother RBC site, where you can keep an eye on all your investments, track your goals and connect with an advisor for personalized advice in person, by phone or via video chat.

With an RBC Wealth Management advisor

A dedicated RBC Wealth Management advisor can help you with your sophisticated or complex investing and wealth management needs. Advisors can create a personalized investment portfolio drawing on a complete range of investment choices, and provide customized wealth management solutions.

Visit RBC Wealth ManagementAnother RBC site

Self-directed, online investing with RBC Direct Investing

For those who want to make their own investment decisions, RBC Direct Investing offers in-depth research, a wide range of investment choices and accounts, and an innovative Community where you can learn, share ideas and connect with other investors—so you can invest online with confidence. Want to see how it works? Open a Practice Account to try online investing, risk free!

Visit RBC Direct InvestingAnother RBC site

Online with RBC InvestEase, guided by a portfolio advisor

If you want to leave the investing work to experts, RBC InvestEase can recommend an automated, online investment plan made up of a mix of ETFs in a professional portfolio. Our advisors work behind the scenes to help you stay on track.

Visit RBC InvestEaseAnother RBC site

The RBC Newcomer Advantage

We know that you and your family have unique needs. Let us help. With the RBC Newcomer Advantage1 you can get everything you need for a great financial start in Canada. We are Canada’s largest bank* and leading financial institution, and we’ve been providing advice and solutions to newcomers for over 150 years.

Why Newcomers Love Our Investment Solutions

With so many types of investments available in Canada, it can feel overwhelming to get started. We can help, with expert advice and the guidance you’ll need to create a bright future for you and your family.

  • Start investing before you have permanent residency

    If you’re in Canada under a temporary work or study permit, you can still invest for the years ahead.

  • Earn a better rate on a safe, secure investment

    We offer newcomers preferred interest rates on select Guaranteed Investment Certificates (GICs).16

  • Save for all the important things in life and track your progress

    Whether you're saving for a home or your kids’ education, we can help create a personalized investment plan.

  • Build and protect your wealth with confidence

    We make it easier to manage your more complex wealth management needs.

How to Invest

How do you want to invest? Talk to us today and we’ll help you start investing for your future in Canada.

See details on investing options under Ways to Invest at RBC.

For help making investment decisions:

For professional advice to help you invest your wealth:

Visit RBC Wealth Management

To make your own investment decisions with support from online research and tools:

Visit RBC Direct Investing

To invest online the easy, automated way:

Visit RBC InvestEase

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