{"id":4344,"date":"2023-12-29T00:00:00","date_gmt":"2023-12-29T08:00:00","guid":{"rendered":"https:\/\/www.nerdwallet.com\/ca\/?page_id=4344"},"modified":"2025-01-13T15:15:08","modified_gmt":"2025-01-13T23:15:08","slug":"best-high-interest-rrsp","status":"publish","type":"page","link":"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-rrsp","title":{"rendered":"Best RRSP Accounts and Rates in Canada for 2025"},"content":{"rendered":"\n<div class=\"wp-block-group is-style-disclosure is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"\">Many or all of the products featured here are from <a href=\"https:\/\/www.nerdwallet.com\/ca\/nerdwallet-partners\">our partners<\/a> who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.<\/p>\n<\/div>\n\n\n\n<p class=\"\"><strong>ALSO CONSIDER:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-savings-accounts\">Best high-interest savings accounts<\/a>&nbsp;| <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-online-savings-accounts\">Best online savings accounts<\/a> | <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-tfsa\">Best high-interest TFSAs | <\/a><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-savings-accounts\">Best savings accounts<\/a><\/p>\n\n\n\n<p class=\"\">A registered retirement savings plan (RRSP) is a tax-advantaged way to save and invest for retirement.<\/p>\n\n\n\n<p class=\"\">If you\u2019re just starting out, a high-interest RRSP account is a safe and easy way to build up your nest egg before locking away those precious funds in stocks, bonds, and mutual funds.<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\"><a href=\"#RRSP-picks\">The best high-interest RRSPs in Canada<\/a><\/li>\n\n\n\n<li class=\"\"><a href=\"#RRSP-at-a-glance\">Top high-interest RRSP rates in Canada<\/a><\/li>\n\n\n\n<li class=\"\"><a href=\"#things-to-know-RRSP\">Things to know about registered retirement savings plans (RRSPs)<\/a><\/li>\n<\/ul>\n\n\n\t<div class=\"c-block-table-of-contents nw-table-of-contents wp-block-table-of-contents \">\n\t\t<div class=\"c-block-table-of-contents__table-wrapper c-block-table-of-contents--scrollable\">\n\t\t\t<h2 id=\"summary-of-our-picks-for-the-best-rrsp-hisa\"  class=\"c-block-table-of-contents__title\">Summary of our picks for the best RRSP HISA<\/h2>\n\t\t\t<ul class=\"c-block-table-of-contents__links\">\n\t\t\t\t<li class=\"c-block-table-of-contents__link\"><a href=\"#tangerine-rsp-savings-account\">Tangerine RSP Savings Account<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#wealthone-rrsp-savings-account\">WealthONE RRSP Savings Account<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#saven-financial-rrsp\">Saven Financial RRSP<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#achieva-financial-rrsp-savings-account\">Achieva Financial RRSP Savings Account<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#outlook-financial-rrsp-high-interest-savings-account\">Outlook Financial RRSP High-Interest Savings Account<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#maxa-financial-rrsp-savings\">MAXA Financial RRSP Savings<\/a><\/li><li class=\"c-block-table-of-contents__link\"><a href=\"#steinbach-credit-union-rrsp-variable-savings\">Steinbach Credit Union RRSP Variable Savings<\/a><\/li>\t\t\t<\/ul>\n\t\t\t<div class=\"c-block-table-of-contents__show-more--wrapper\">\n\t\t\t\t<span class=\"c-block-table-of-contents__show-more\">\n\t\t\t\t\t<label class=\"show-more-label\" for=\"c-block-table-of-contents__show-more\">Show more<\/label>\n\t\t\t\t\t<label class=\"hide-more-label\" for=\"c-block-table-of-contents__show-more\">Show less<\/label>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n\n\n\n\n\n<div id=\"js-page-top\">\n\t<section class=\"c-block-product-card-list c-keto-product-cards-list__wrapper c-keto-product-cards-list__page-top container\" id=\"\">\n\t\t\n\t\t\n\t\t\n\n<div class=\"nw-block nw-block-product-card c-block-product-card c-keto-product-cards__wrapper wp-block-nerdwallet-blocks-product-card\">\n\t\n<section class=\"c-keto-product-card__wrapper offer-id__10220\" id=\"tangerine-rsp-savings-account\" data-nw-product-category-bank-accounts=\"true\" data-nw-product-category-rrsps=\"true\" data-nw-product-category-savings-accounts=\"true\">\n\t\n\t\t<div class=\"c-keto-product-card__body\">\n\t\t\t\t<h3 id=\"tangerine-rsp-savings-account\"  class=\"c-keto-product-card__title\">Tangerine RSP Savings Account<\/h3>\t\t<div class=\"c-keto-product-card__inner\">\n\t\t\t<div class=\"c-keto-product-card__cta-wrapper\">\n\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__image\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"460\" height=\"95\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-460x95.png\" class=\"attachment-cardgrid-large size-cardgrid-large\" alt=\"Tangerine RSP Savings Account\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-460x95.png 460w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-300x62.png 300w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-1024x211.png 1024w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-768x158.png 768w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-1536x317.png 1536w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-2048x422.png 2048w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-375x77.png 375w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-276x57.png 276w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-100x21.png 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-40x8.png 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/07\/Tangerine_Bank_logo.svg-150x31.png 150w\" sizes=\"(max-width: 460px) 100vw, 460px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n<div class=\"c-block-product-card-drivers-list\">\n\t\t\t\t<ul class=\"c-keto-product-card__drivers\">\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3817=\"4.50%*\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Interest Rate<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t4.50%*\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-info--wrapper js-tooltip-wrapper\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-info--icon js-tooltip-icon\" role=\"img\" aria-label=\"Driver info icon\"><\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-info--content js-tooltip-content\" role=\"dialog\" aria-label=\"More information about Interest Rate\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"c-keto-product-card__driver-info--pointer\" role=\"img\" aria-label=\"driver-info-pointer\"><\/span>\n\t\t\t\t\t\t\t\t\t\t\tRegular interest rate: 0.30%, no minimum balance. The Tangerine New Client 4.50% Interest Rate Offer (the &quot;Offer&quot;) is available to new Tangerine Clients who: (a) have a Client Number created between December 18, 2024 and March 31, 2025, and (b) open an Eligible Savings Account as the Primary Account Holder within 60 days of the date their Client Number was created.\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tPromotional rate\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3819=\"N\/A\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Bonus Offer<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\tN\/A\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3821=\"$0\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Monthly Fee<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\n\t<\/div>\n\n\n<div class=\"c-keto-product-card__accordion-wrapper c-block-accordion-wrapper wp-block-nerdwallet-blocks-product-card-accordion\">\n\t<div class=\"c-keto-product-card__accordion\">\n\t\t\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tOur Take\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul>\r\n<li>This flexible, no-fee RRSP comes with a generous promotional offer that will earn you cash and a high rate of return for five months.        \r\n<li>Tangerine is a subsidiary of Scotiabank and offers chequing and savings accounts, GICS, registered accounts, credit cards, mortgages, loans and investment products. Read our <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/tangerine-bank-review\">review of Tangerine<\/a> for more information. \r\n<\/ul>\t<\/div>\n<\/div>\n\n\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tProduct Details\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul><li>No monthly fee.<\/li>\n<li>Automated savings program available.<\/li>\n<li>Manage your money by phone, through online banking and a mobile app.<\/li>\n<li>Other Tangerine RSP investment options include RSP GICs, available in 90-day to 5-year terms, and investment accounts and portfolios. <\/li>\n<li>Service fees are listed online.<\/li>\n<li>Deposits and withdrawals are free. <\/li>\n<li>$50 fee to transfer your RRSP to another bank (transferring another in is free).<\/li>\n<li>No minimum balance is required.<\/li>\n<li>Eligible for CDIC deposit insurance.<\/li><\/ul>\t<\/div>\n<\/div>\n\n\t<\/div>\n<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n<div class=\"nw-block nw-block-product-card c-block-product-card c-keto-product-cards__wrapper wp-block-nerdwallet-blocks-product-card\">\n\t\n<section class=\"c-keto-product-card__wrapper offer-id__4324\" id=\"wealthone-rrsp-savings-account\" data-nw-product-category-bank-accounts=\"true\" data-nw-product-category-rrsps=\"true\" data-nw-product-category-savings-accounts=\"true\">\n\t\n\t\t<div class=\"c-keto-product-card__body\">\n\t\t\t\t<h3 id=\"wealthone-rrsp-savings-account\"  class=\"c-keto-product-card__title\">WealthONE RRSP Savings Account<\/h3>\t\t<div class=\"c-keto-product-card__inner\">\n\t\t\t<div class=\"c-keto-product-card__cta-wrapper\">\n\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__image\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"460\" height=\"73\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/11\/wealthone-460x73.png\" class=\"attachment-cardgrid-large size-cardgrid-large\" alt=\"WealthONE RRSP Savings Account\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/11\/wealthone-460x73.png 460w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/11\/wealthone-375x59.png 375w\" sizes=\"(max-width: 460px) 100vw, 460px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n<div class=\"c-block-product-card-drivers-list\">\n\t\t\t\t<ul class=\"c-keto-product-card__drivers\">\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3817=\"3.45%\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Interest Rate<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t3.45%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tNo minimum balance required\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3819=\"N\/A\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Bonus Offer<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\tN\/A\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3821=\"$0\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Monthly Fee<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\n\t<\/div>\n\n\n<div class=\"c-keto-product-card__accordion-wrapper c-block-accordion-wrapper wp-block-nerdwallet-blocks-product-card-accordion\">\n\t<div class=\"c-keto-product-card__accordion\">\n\t\t\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tOur Take\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul>\r\n<li>This RRSP savings account features a competitive interest rate and comes with access to a digital investing service with professionally managed, low-cost investment portfolios. \t\r\n<li>WealthONE Bank of Canada is a Canadian Schedule 1 bank that serves all Canadians including the newcomers. It has two offices in Toronto and Vancouver and offers online banking, a mobile app and competitive interest rates.\r\n<\/ul>\t<\/div>\n<\/div>\n\n\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tProduct Details\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul><li>No monthly fee.<\/li>\n<li>Automated savings program available. <\/li>\n<li>Manage your money by phone, through online banking and a mobile app.<\/li>\n<li>Other Wealth One RRSP investment options include spousal RRSPs, guaranteed investment certificates, available in 6-month to 5-year terms, and investment accounts and portfolios through Smart Money Invest. <\/li>\n<li>TFSAs and RRIFs are also available. <\/li>\n<li>Service fees are listed online.<\/li>\n<li>$50 fee to transfer your RRSP to another bank (transferring in another RRSP is free).<\/li>\n<li>$100 fee to close your RRSP account.<\/li>\n<li>No minimum balance is required.<\/li>\n<li>Eligible for CDIC deposit insurance.<\/li><\/ul>\t<\/div>\n<\/div>\n\n\t<\/div>\n<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n<div class=\"nw-block nw-block-product-card c-block-product-card c-keto-product-cards__wrapper wp-block-nerdwallet-blocks-product-card\">\n\t\n<section class=\"c-keto-product-card__wrapper offer-id__74842\" id=\"saven-financial-rrsp\" data-nw-product-category-bank-accounts=\"true\" data-nw-product-category-rrsps=\"true\" data-nw-product-category-savings-accounts=\"true\">\n\t\n\t\t<div class=\"c-keto-product-card__body\">\n\t\t\t\t<h3 id=\"saven-financial-rrsp\"  class=\"c-keto-product-card__title\">Saven Financial RRSP<\/h3>\t\t<div class=\"c-keto-product-card__inner\">\n\t\t\t<div class=\"c-keto-product-card__cta-wrapper\">\n\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__image\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"123\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial.png\" class=\"attachment-cardgrid-large size-cardgrid-large\" alt=\"Saven Financial RRSP\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial.png 409w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial-300x90.png 300w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial-375x113.png 375w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial-276x83.png 276w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial-100x30.png 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial-40x12.png 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2024\/10\/saven-financial-150x45.png 150w\" sizes=\"(max-width: 409px) 100vw, 409px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n<div class=\"c-block-product-card-drivers-list\">\n\t\t\t\t<ul class=\"c-keto-product-card__drivers\">\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3817=\"3.15%\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Interest Rate<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t3.15%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3819=\"N\/A\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Bonus Offer<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\tN\/A\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3821=\"$0\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Monthly Fee<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\n\t<\/div>\n\n\n<div class=\"c-keto-product-card__accordion-wrapper c-block-accordion-wrapper wp-block-nerdwallet-blocks-product-card-accordion\">\n\t<div class=\"c-keto-product-card__accordion\">\n\t\t\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tOur Take\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul>\r\n<li>Saven Financial RRSP earns you an attractive interest rate with an option to grow your retirement savings in a GIC.\r\n<li>Saven Financial is a division of FirstOntario Credit Union. The credit union offers attractive perks and interest rates on savings accounts and GICs. Not available to Quebec residents.\r\n<\/ul>\t<\/div>\n<\/div>\n\n\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tProduct Details\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul><li>No minimum deposit required.<\/li>\n<li>Interest is calculated daily and paid on a monthly basis.<\/li>\n<li>Contribution and withdrawal rules apply.<\/li>\n<li>Potentially earn higher returns with a GIC.<\/li>\n<li>Eligible deposits covered under the Financial Services Regulatory Authority of Ontario\u2019s (FSRA) deposit insurance program.<\/li><\/ul>\t<\/div>\n<\/div>\n\n\t<\/div>\n<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n<div class=\"nw-block nw-block-product-card c-block-product-card c-keto-product-cards__wrapper wp-block-nerdwallet-blocks-product-card\">\n\t\n<section class=\"c-keto-product-card__wrapper offer-id__4328\" id=\"achieva-financial-rrsp-savings-account\" data-nw-product-category-bank-accounts=\"true\" data-nw-product-category-rrsps=\"true\" data-nw-product-category-savings-accounts=\"true\">\n\t\n\t\t<div class=\"c-keto-product-card__body\">\n\t\t\t\t<h3 id=\"achieva-financial-rrsp-savings-account\"  class=\"c-keto-product-card__title\">Achieva Financial RRSP Savings Account<\/h3>\t\t<div class=\"c-keto-product-card__inner\">\n\t\t\t<div class=\"c-keto-product-card__cta-wrapper\">\n\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__image\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"174\" height=\"68\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Achieva-Financial-logo.png\" class=\"attachment-cardgrid-large size-cardgrid-large\" alt=\"Achieva Financial RRSP Savings Account\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Achieva-Financial-logo.png 174w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Achieva-Financial-logo-100x39.png 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Achieva-Financial-logo-40x16.png 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/Achieva-Financial-logo-150x59.png 150w\" sizes=\"(max-width: 174px) 100vw, 174px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n<div class=\"c-block-product-card-drivers-list\">\n\t\t\t\t<ul class=\"c-keto-product-card__drivers\">\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3817=\"2.50%\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Interest Rate<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t2.50%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tNo minimum balance required\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3819=\"N\/A\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Bonus Offer<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\tN\/A\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3821=\"$0\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Monthly Fee<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\n\t<\/div>\n\n\n<div class=\"c-keto-product-card__accordion-wrapper c-block-accordion-wrapper wp-block-nerdwallet-blocks-product-card-accordion\">\n\t<div class=\"c-keto-product-card__accordion\">\n\t\t\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tOur Take\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul>\r\n<li>This online-only high-interest RRSP features a competitive rate and the ability to set up spousal RRSPs. \r\n<li>Achieva Financial is an online division of Manitoba\u2019s Cambrian Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs). \r\n<\/ul>\t<\/div>\n<\/div>\n\n\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tProduct Details\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul><li>2.50% variable interest rate. Interest is calculated on the daily closing balance and added to the principal on the last day of each month. <\/li>\n<li>No monthly fee.<\/li>\n<li>To open this account, you must agree to become a member of Cambrian Credit Union Limited, which requires a $5 share. Your share is considered an investment and is fully refundable should you decide to cancel your membership. <\/li>\n<li>Earn $1 per month when you choose electronic documents. <\/li>\n<li>Ability to set up recurring contributions.<\/li>\n<li>Manage your money by phone, through online banking and a mobile app.<\/li>\n<li>Other Achieva RRSP investment options include spousal RRSPs, RRSP GICS, available in one to five-year terms, and Qtrade Direct Investing online investment accounts. <\/li>\n<li>TFSAs, RRIFs, Locked-In Retirement Accounts (LIRAs) and Life Income Funds (LIFs) are also available. <\/li>\n<li>Service fees are listed online. <\/li>\n<li>$15 fee to close the account within six months of opening. <\/li>\n<li>No minimum balance is required.<\/li>\n<li>Eligible for Deposit Guarantee Corporation of Manitoba deposit insurance.<\/li><\/ul>\t<\/div>\n<\/div>\n\n\t<\/div>\n<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n<div class=\"nw-block nw-block-product-card c-block-product-card c-keto-product-cards__wrapper wp-block-nerdwallet-blocks-product-card\">\n\t\n<section class=\"c-keto-product-card__wrapper offer-id__4342\" id=\"outlook-financial-rrsp-high-interest-savings-account\" data-nw-product-category-bank-accounts=\"true\" data-nw-product-category-rrsps=\"true\" data-nw-product-category-savings-accounts=\"true\">\n\t\n\t\t<div class=\"c-keto-product-card__body\">\n\t\t\t\t<h3 id=\"outlook-financial-rrsp-high-interest-savings-account\"  class=\"c-keto-product-card__title\">Outlook Financial RRSP High-Interest Savings Account<\/h3>\t\t<div class=\"c-keto-product-card__inner\">\n\t\t\t<div class=\"c-keto-product-card__cta-wrapper\">\n\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__image\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"321\" height=\"157\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/outlook-financial.png\" class=\"attachment-cardgrid-large size-cardgrid-large\" alt=\"Outlook Financial RRSP High-Interest Savings Account\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/outlook-financial.png 321w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/outlook-financial-300x147.png 300w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/outlook-financial-276x135.png 276w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/outlook-financial-100x49.png 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/outlook-financial-40x20.png 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/outlook-financial-150x73.png 150w\" sizes=\"(max-width: 321px) 100vw, 321px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n<div class=\"c-block-product-card-drivers-list\">\n\t\t\t\t<ul class=\"c-keto-product-card__drivers\">\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3817=\"2.20%\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Interest Rate<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t2.20%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tNo minimum balance required\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3819=\"N\/A\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Bonus Offer<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\tN\/A\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3821=\"$0\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Monthly Fee<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\n\t<\/div>\n\n\n<div class=\"c-keto-product-card__accordion-wrapper c-block-accordion-wrapper wp-block-nerdwallet-blocks-product-card-accordion\">\n\t<div class=\"c-keto-product-card__accordion\">\n\t\t\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tOur Take\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul>\r\n<li>This easy-to-use high-interest RRSP savings account offers a competitive interest rate and flexible options for new savers. \t\r\n<li>Outlook Financial is an online division of Assiniboine Credit Union and offers savings accounts, GICS, TFSAs, Registered Retirement Savings Plans (RRSPs), and Registered Retirement Income Funds (RRIFs).\r\n<\/ul>\t<\/div>\n<\/div>\n\n\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tProduct Details\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul><li>2.20% variable interest rate. Interest is calculated daily and paid back monthly. <\/li>\n<li>No monthly fee.<\/li>\n<li>To open this account, you must agree to become a member of Assiniboine Credit Union membership, which requires a $5 share. Your share is considered an investment and is fully refundable should you decide to cancel your membership. <\/li>\n<li>Manage your money by phone or through online banking. <\/li>\n<li>Start saving to reach the $1,000 minimum needed to invest in an RRSP Fixed GIC, which may earn higher rates.<\/li>\n<li>Other Outlook Financial RRSP investment options include spousal RRSPs and guaranteed investment certificates, available in one to five-year terms. <\/li>\n<li>TFSAs and RRIFs are also available. <\/li>\n<li>Service fees are listed online. <\/li>\n<li>$50 fee to transfer your RRSP to another bank (transferring in another RRSP is free).<\/li>\n<li>$15 fee to close the account within three months of opening. <\/li>\n<li>No minimum balance is required.<\/li>\n<li>Eligible for Deposit Guarantee Corporation of Manitoba deposit insurance.<\/li><\/ul>\t<\/div>\n<\/div>\n\n\t<\/div>\n<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n<div class=\"nw-block nw-block-product-card c-block-product-card c-keto-product-cards__wrapper wp-block-nerdwallet-blocks-product-card\">\n\t\n<section class=\"c-keto-product-card__wrapper offer-id__10159\" id=\"maxa-financial-rrsp-savings\" data-nw-product-category-bank-accounts=\"true\" data-nw-product-category-rrsps=\"true\" data-nw-product-category-savings-accounts=\"true\">\n\t\n\t\t<div class=\"c-keto-product-card__body\">\n\t\t\t\t<h3 id=\"maxa-financial-rrsp-savings\"  class=\"c-keto-product-card__title\">MAXA Financial RRSP Savings<\/h3>\t\t<div class=\"c-keto-product-card__inner\">\n\t\t\t<div class=\"c-keto-product-card__cta-wrapper\">\n\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__image\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"460\" height=\"183\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-460x183.png\" class=\"attachment-cardgrid-large size-cardgrid-large\" alt=\"MAXA Financial RRSP Savings\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-460x183.png 460w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-300x119.png 300w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-375x149.png 375w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-276x110.png 276w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-100x40.png 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-40x16.png 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial-150x60.png 150w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/08\/maxa-financial.png 500w\" sizes=\"(max-width: 460px) 100vw, 460px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n<div class=\"c-block-product-card-drivers-list\">\n\t\t\t\t<ul class=\"c-keto-product-card__drivers\">\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3817=\"2.20%\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Interest Rate<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t2.20%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tNo minimum balance required\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3819=\"N\/A\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Bonus Offer<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\tN\/A\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3821=\"$0\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Monthly Fee<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\n\t<\/div>\n\n\n<div class=\"c-keto-product-card__accordion-wrapper c-block-accordion-wrapper wp-block-nerdwallet-blocks-product-card-accordion\">\n\t<div class=\"c-keto-product-card__accordion\">\n\t\t\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tOur Take\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul>\r\n<li>This High-Interest Savings Account offers competitive rates, the convenience of no minimum balance and added savings through zero monthly fee.        \r\n<li>MAXA Financial is an operating division of Westoba Credit Union Ltd. and offers a high-interest savings account, GICs, and TFSA, RRSP and RRIF products.\r\n<\/ul>\t<\/div>\n<\/div>\n\n\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tProduct Details\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul><li>The High-Interest Savings Account offers exceptional rates with the convenience and flexibility to make meeting your financial goals easy.<\/li>\n<li>Deposits are guaranteed 100% by Deposit Guarantee Corporation of Manitoba.<\/li>\n<li>No minimum balance is required.<\/li>\n<li>No monthly maintenance fee.<\/li>\n<li>Interest is calculated on the daily closing balance and paid monthly.<\/li>\n<li>MAXA MemberCard for ATM and Point-of-Sale transactions.<\/li>\n<li>Account information is available online or by phone.<\/li>\n<li>Contributions can be easily transferred from your MAXA High-Interest Savings account online or by phone.<\/li>\n<li>You can set up recurring transfers from your MAXA High-Interest Savings account online or by phone.<\/li><\/ul>\t<\/div>\n<\/div>\n\n\t<\/div>\n<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n<div class=\"nw-block nw-block-product-card c-block-product-card c-keto-product-cards__wrapper wp-block-nerdwallet-blocks-product-card\">\n\t\n<section class=\"c-keto-product-card__wrapper offer-id__36294\" id=\"steinbach-credit-union-rrsp-variable-savings\" data-nw-product-category-bank-accounts=\"true\" data-nw-product-category-rrsps=\"true\" data-nw-product-category-savings-accounts=\"true\">\n\t\n\t\t<div class=\"c-keto-product-card__body\">\n\t\t\t\t<h3 id=\"steinbach-credit-union-rrsp-variable-savings\"  class=\"c-keto-product-card__title\">Steinbach Credit Union RRSP Variable Savings<\/h3>\t\t<div class=\"c-keto-product-card__inner\">\n\t\t\t<div class=\"c-keto-product-card__cta-wrapper\">\n\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__image\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"328\" height=\"154\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/06\/steinbach.png\" class=\"attachment-cardgrid-large size-cardgrid-large\" alt=\"Steinbach Credit Union RRSP Variable Savings\" srcset=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/06\/steinbach.png 328w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/06\/steinbach-300x141.png 300w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/06\/steinbach-276x130.png 276w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/06\/steinbach-100x47.png 100w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/06\/steinbach-40x19.png 40w, https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2023\/06\/steinbach-150x70.png 150w\" sizes=\"(max-width: 328px) 100vw, 328px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n<div class=\"c-block-product-card-drivers-list\">\n\t\t\t\t<ul class=\"c-keto-product-card__drivers\">\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3817=\"3.50%\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Interest Rate<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t3.50%\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-info--wrapper js-tooltip-wrapper\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-info--icon js-tooltip-icon\" role=\"img\" aria-label=\"Driver info icon\"><\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-info--content js-tooltip-content\" role=\"dialog\" aria-label=\"More information about Interest Rate\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"c-keto-product-card__driver-info--pointer\" role=\"img\" aria-label=\"driver-info-pointer\"><\/span>\n\t\t\t\t\t\t\t\t\t\t\tFor balances for $100,000 or less.\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3819=\"N\/A\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Bonus Offer<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\tN\/A\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<li class=\"c-keto-product-card__driver\" data-nw-product-driver-3821=\"$0\">\n\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-label\">Monthly Fee<\/div>\n\t\t\t\t\t\t<div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-fee\">\n\t\t\t\t\t\t\t\t$0\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"c-keto-product-card__driver-details\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t<\/ul>\n\t\t\t\n\t<\/div>\n\n\n<div class=\"c-keto-product-card__accordion-wrapper c-block-accordion-wrapper wp-block-nerdwallet-blocks-product-card-accordion\">\n\t<div class=\"c-keto-product-card__accordion\">\n\t\t\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tOur Take\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul>\r\n<li>This RRSP variable savings account earns a healthy regular interest rate on your daily minimum balance while reducing your taxable income.\r\n<li>Steinbach Credit Union, or SCU is one of Manitoba\u2019s largest credit unions offering personal and business solutions online, by phone and in person.\r\n<\/ul>\t<\/div>\n<\/div>\n\n\n<div class=\"c-block-accordion-item\">\n\t<div class=\"c-block-accordion-item__header\" role=\"button\">\n\t\t<div>\n\t\t\tProduct Details\t\t<\/div>\n\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"23\" height=\"23\" fill=\"\" viewBox=\"0 0 256 256\"><path d=\"M213.66,101.66l-80,80a8,8,0,0,1-11.32,0l-80-80A8,8,0,0,1,53.66,90.34L128,164.69l74.34-74.35a8,8,0,0,1,11.32,11.32Z\"><\/path><\/svg>\n\t<\/div>\n\n\t<div class=\"c-block-accordion-item__content\">\n\t\t<ul><li>Offers a competitive, variable interest rate.<\/li>\n<li>No introductory rates that expire after a few months \u2014 Steinbach Credit Union offers high-interest rates right from dollar one.<\/li>\n<li>Interest is calculated on your minimum monthly balance and paid annually on December 31st.<\/li>\n<li>Manage your accounts on the go with free access to online banking and our mobile app anytime, anywhere.<\/li>\n<li>Automate your contributions by setting up a monthly preauthorized debit to your RRSP so you can save without even thinking about it.<\/li>\n<li>Deposits can be added to your savings at any time without paying a fee.<\/li>\n<li>All deposits are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba.<\/li><\/ul>\t<\/div>\n<\/div>\n\n\t<\/div>\n<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\t\t<a class=\"js-scroll-to\" href=\"#js-page-top\">Back to Top<\/a>\n\t<\/section>\n<\/div>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"RRSP-at-a-glance\">Top high-interest RRSP rates in Canada<\/h2>\n\n\n<div class=\"c-tablepress-table-wrapper\" style=\"overflow-x: auto;\">\n<table id=\"tablepress-65\" class=\"tablepress tablepress-id-65\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\"><strong>Savings Account<\/strong><\/th><th class=\"column-2\"><strong>Interest Rate<\/strong><\/th><th class=\"column-3\"><strong>Monthly Fee<\/strong><\/th><th class=\"column-4\"><strong>Insurance<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">Achieva Financial RRSP Daily Interest Savings Account<\/td><td class=\"column-2\">2.60%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">Deposit Guarantee Corporation of Manitoba<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">Alterna Bank RRSP HISA<\/td><td class=\"column-2\">1.45%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">EQ Bank RSP Savings Account**<\/td><td class=\"column-2\">2.00%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">Hubert Financial Happy RRSP HISA**<\/td><td class=\"column-2\">1.90%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">Deposit Guarantee Corporation of Manitoba<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\">ICICI Bank Retirement Savings Plan (RSP) Savings Account<\/td><td class=\"column-2\">1.25%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-7 odd\">\n\t<td class=\"column-1\">Manulife Bank Registered Advantage Account<\/td><td class=\"column-2\">4.80%*<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-8 even\">\n\t<td class=\"column-1\">MAXA Financial RRSP High Interest Savings Account<\/td><td class=\"column-2\">2.20%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">Deposit Guarantee Corporation of Manitoba<\/td>\n<\/tr>\n<tr class=\"row-9 odd\">\n\t<td class=\"column-1\">Meridian Credit Union RRSP HISA <\/td><td class=\"column-2\">1.05%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">Financial Services Regulatory Authority of Ontario<\/td>\n<\/tr>\n<tr class=\"row-10 even\">\n\t<td class=\"column-1\">Motive RRSP Savings Account**<\/td><td class=\"column-2\">0.25% - 1.25%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-11 odd\">\n\t<td class=\"column-1\">Motusbank RRSP High interest savings account<\/td><td class=\"column-2\">1.05%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-12 even\">\n\t<td class=\"column-1\">National Bank of Canada Cash Advantage Solution RRSP<\/td><td class=\"column-2\">0.60% - 3.25%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-13 odd\">\n\t<td class=\"column-1\">Outlook Financial RRSP High-Interest Savings Account<\/td><td class=\"column-2\">2.20%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">Deposit Guarantee Corporation of Manitoba<\/td>\n<\/tr>\n<tr class=\"row-14 even\">\n\t<td class=\"column-1\">Saven Financial RRSP HISA<\/td><td class=\"column-2\">3.15%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">Financial Services Regulatory Authority of Ontario<\/td>\n<\/tr>\n<tr class=\"row-15 odd\">\n\t<td class=\"column-1\">Steinbach Credit Union RRSP Variable Savings<\/td><td class=\"column-2\">2.45%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">Deposit Guarantee Corporation of Manitoba<\/td>\n<\/tr>\n<tr class=\"row-16 even\">\n\t<td class=\"column-1\">Tangerine RSP Savings Account<\/td><td class=\"column-2\">up to 4.50%*<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<tr class=\"row-17 odd\">\n\t<td class=\"column-1\">WealthONE RRSP Savings Account<\/td><td class=\"column-2\">3.45%<\/td><td class=\"column-3\">$0<\/td><td class=\"column-4\">CDIC<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n\n\n\n<p class=\"\"><em>**Not available to Quebec residents.&nbsp;<\/em><\/p>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-trust-card is-style-alt\"><div class=\"c-block-trust-card\"><h3 id=\"methodology\"  class=\"c-block-trust-card__title\">Methodology<\/h3><div class=\"c-block-trust-card__description\"><p>NerdWallet Canada selects the best high-interest registered retirement savings accounts based on several criteria. Factors in\u00a0<a href=\"https:\/\/www.nerdwallet.com\/ca\/financial-product-evaluation-methology#bnkmethod\">our evaluation methodology<\/a>\u00a0include annual percentage yields, minimum balance requirements, fees, digital features, access to other investment products, and more. Only RRSPs from financial institutions available in more than one province are considered for this list.<\/p><\/div><ul class=\"c-block-trust-card__bullet-points\"><\/ul><\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"things-to-know-RRSP\">Things to know about registered retirement savings plans (RRSPs)<\/h2>\n\n\n\n<p class=\"\"><strong>By Helen Burnett-Nichols<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-is-an-rrsp\">What is an RRSP?<\/h3>\n\n\n\n<p class=\"\">An <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-an-rrsp\">RRSP<\/a> is a savings plan registered with the Canadian government that you can contribute to until age 71. The plan allows you to hold investments and put money aside for retirement on a tax-deferred basis. You can deduct contributions made to the account annually from your <a href=\"https:\/\/www.nerdwallet.com\/ca\/personal-finance\/what-is-income-tax\">taxable income<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"types-of-rrsps\">Types of RRSPs<\/h3>\n\n\n\n<p class=\"\">There are three different types of RRSPs:<\/p>\n\n\n\n<p class=\"\">An <strong>individual RRSP<\/strong> is a plan held in your name, and you receive tax benefits. This type of plan is the most common and offers the most flexibility for investment decisions, such as the <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/rbc-rrsp-review\">RBC RRSP account<\/a> \u2014 if you\u2019re someone who likes big banks.<\/p>\n\n\n\n<p class=\"\">A <strong>spousal RRSP<\/strong> allows one partner \u2014 usually earning a higher income \u2014 to contribute to an RRSP in their spouse\u2019s name. The contributor receives the tax deduction, but the benefiting spouse owns the investments inside the RRSP. <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/spousal-rrsp\">Spousal RRSPs<\/a> also offer tax advantages to families during retirement by letting spouses split income more evenly.<\/p>\n\n\n\n<p class=\"\">A <strong>group RRSP<\/strong> is an employer-managed plan which involves holding an individual RRSP at a financial institution. Contributions come from your pay, and, in some cases, your employer may match. You will likely have limited choices over the investments held in the plan.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/defined-benefit-vs-defined-contribution-pension\">What are registered pension plans?<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-is-the-best-way-to-invest-in-an-RRSP\">&nbsp;What is the best way to invest in an RRSP?<\/h3>\n\n\n\n<p class=\"\">An RRSP can hold different investments, including mutual funds, stocks and cash. The <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-interest-rate\">interest<\/a> or returns you earn depend on the type of RRSP account and how you choose to hold your investments.<\/p>\n\n\n\n<p class=\"\">You can elect to have investments managed by an advisor at a financial institution, like a <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-a-credit-union\">bank or credit union<\/a>. Or, you could choose a self-directed plan, where you make your own investment decisions, often for a lower fee. Both full-service or discount brokerages typically offer <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/self-directed-rrsp-sdrsp\">self-directed RRSPs<\/a>.<\/p>\n\n\n\n<p class=\"\">An RRSP can hold several types of qualified investments, including:<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\">Cash, often held in a high-interest RRSP savings account<\/li>\n\n\n\n<li class=\"\">Canadian and foreign equities<\/li>\n\n\n\n<li class=\"\">Exchange-traded funds (ETFs)<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-a-gic\">Guaranteed investment certificates (GICs)<\/a><\/li>\n\n\n\n<li class=\"\">Savings bonds, <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/understanding-canada-savings-bonds\">government bonds<\/a> and corporate bonds<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/what-is-a-t-bill\">Treasury bills<\/a><\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/what-are-mutual-funds-in-canada\">Eligible mutual funds<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"\">The rates of return on the investments vary greatly, depending on what you choose to hold in your plan. Furthermore, the value of your RRSP may not be guaranteed to go up and may decrease in value, especially if you own stocks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"what-is-a-high-interest-RRSP-savings-account\">What is a high-interest RRSP savings account?<\/h3>\n\n\n\n<p class=\"\">High-interest RRSP savings accounts help account holders save regularly for retirement. They are essentially just like a regular high-interest savings account but offer a better interest rate than non-registered accounts.<\/p>\n\n\n\n<p class=\"\">This option is ideal for those looking to put money aside while considering what they want to do with their funds over the longer term.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb See our picks:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-savings-accounts\">The best high-interest savings accounts in Canada<\/a><\/p>\n\n\n\n<h4 id=\"how-high-interest-rrsps-work\"  class=\"wp-block-heading\">How high-interest RRSPs work<\/h4>\n\n\n\n<p class=\"\">High-interest RRSPs may not charge any <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/bank-fees-and-charges\">monthly fees<\/a> or require a minimum balance or contribution but still provide tax benefits.<\/p>\n\n\n\n<p class=\"\">Some high-interest RRSPs provide a tiered interest rate structure that offers higher rates as your savings increase. <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-compound-interest\">Compounding interest<\/a> rates (calculated daily and paid monthly) on RRSP savings accounts vary by financial institution.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-to-open-an-RRSP\">How to open an RRSP<\/h3>\n\n\n\n<p class=\"\">You\u2019re eligible to open and contribute to an RRSP until December 31 of the year you turn 71, as long as you earned income and filed an income tax return in Canada the previous year. Children under 18 are also eligible to open an RRSP with the consent of their parent or legal guardian if they have created RRSP contribution room by earning income and filing a tax return with the CRA.<\/p>\n\n\n\n<p class=\"\">Opening an RRSP involves filling out an application, which many providers will allow you to do online. The institution will probably ask you about your investment knowledge and financial goals. You will need your previous tax year\u2019s <a href=\"https:\/\/www.nerdwallet.com\/ca\/personal-finance\/what-is-notice-of-assessment\">Notice of Assessment<\/a> and information about who you\u2019d like to select as your <a href=\"https:\/\/www.nerdwallet.com\/ca\/personal-finance\/what-is-a-beneficiary\">beneficiary<\/a>.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/personal-finance\/what-is-a-tax-return\">What is a tax return?<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-to-choose-and-compare-RRSPs\">How to choose and compare RRSPs<\/h3>\n\n\n\n<p class=\"\">Before choosing an RRSP, consider what you\u2019re looking to include in the plan and how hands-on you would like to manage your investments. For example, are you looking to self-direct your portfolio, or would you like an advisor to manage funds on your behalf? Are you interested in a plan that operates like a savings account, or would you prefer access to a full suite of investment products?<\/p>\n\n\n\n<p class=\"\">Once you\u2019ve determined how you approach RRSP investing, you can compare providers and accounts. Be sure to look at account fees, the investment types offered, and the rates of return.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-to-use-an-RRSP\">How to use an RRSP<\/h3>\n\n\n\n<h4 id=\"rrsp-contributions\"  class=\"wp-block-heading\">RRSP contributions<\/h4>\n\n\n\n<p class=\"\">Once you have opened an RRSP account, you can contribute to your plan through your bank account or investment account online, or via your advisor. You can also set up regular pre-authorized debits or make a lump sum contribution before the RRSP deadline.<\/p>\n\n\n\n<p class=\"\">Your annual <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/rrsp-contribution-limit-explained\">RRSP contribution room<\/a> will be made up of 18% of your earned income in the previous year, up to a maximum contribution amount that changes yearly (for the 2023 tax year, this amount is $30,780). If you didn\u2019t make your maximum contribution in previous years, you\u2019re able to carry any unused contribution room forward to use this year or in future tax years until age 71.<\/p>\n\n\n\n<p class=\"\">You can also have more than one RRSP, but your annual contribution limit stays the same, whether you\u2019re contributing to one plan or three.<\/p>\n\n\n\n<p class=\"\">If you over-contribute to your RRSP, the Canada Revenue Agency will tax the excess amount at 1% per month. You can overcontribute by $2,000 without a penalty. However, you won\u2019t get a tax break on the extra contribution.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb Get ready:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/rrsp-contribution-deadline\">How to prepare for the 2023 RRSP deadline<\/a><\/p>\n\n\n\n<h4 id=\"rrsp-and-taxes\"  class=\"wp-block-heading\">RRSP and taxes<\/h4>\n\n\n\n<p class=\"\">Each year you contribute to your RRSP, your financial institution will send you two statements. These statements will show your contributions \u2014 from March 2 to December 31 of the previous year and for the first 60 days of the current year \u2014 which you can claim on line 20800 of your tax return to reduce last year\u2019s net taxable income. You can also choose to claim your contributions in future tax years.<\/p>\n\n\n\n<h4 id=\"rrsp-withdrawals\"  class=\"wp-block-heading\">RRSP withdrawals<\/h4>\n\n\n\n<p class=\"\">RRSPs are designed to help <a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/how-much-money-to-retire\">save for retirement<\/a>, so taking money out of an RRSP earlier than intended will cost you unless the funds are for the <a href=\"https:\/\/www.nerdwallet.com\/ca\/mortgages\/what-is-the-home-buyers-plan\">Home Buyer\u2019s Plan<\/a> or the Lifelong Learning Plan.<\/p>\n\n\n\n<p class=\"\">First, early withdrawals are subject to withholding tax of 10%-30% (or 5%-15% in Quebec), which your financial institution will remit to the government on your behalf. The withdrawn amount is also considered taxable income, which you must declare on your tax return.<\/p>\n\n\n\n<p class=\"\">Your RRSP reaches maturity on December 31 of the year you turn 71. At this point, you must withdraw the funds. You have a few options regarding what to do next:<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\">Take a lump sum payment, which will be subject to withholding tax and added to your income for the year.<\/li>\n\n\n\n<li class=\"\">Convert your RRSP to a <a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/what-is-rrif\">registered retirement income fund (RRIF)<\/a>, which will require you to make annual minimum withdrawals that are included in your taxable income each year but are not subject to withholding tax.<\/li>\n\n\n\n<li class=\"\"><a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/annuities-in-canada-explained\">Purchase an annuity<\/a>, which offers a guaranteed income for life or for a specified period, not subject to withholding tax, but you may have to pay tax on the income payments.<\/li>\n<\/ul>\n\n\n\n<p class=\"\"><strong>\u00bb Just because you can doesn\u2019t mean you should:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/rrsp-withdrawal-explained\">What you should know about RRSP withdrawals<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"RRSP-benefits-advantages\">RRSP benefits\/advantages:<\/h3>\n\n\n\n<p class=\"\">One of the main advantages of an RRSP is the tax benefits it offers, both when you contribute and when you withdraw the funds in retirement. For example, each RRSP contribution reduces your net taxable income.<\/p>\n\n\n\n<p class=\"\">Money held within an RRSP \u2014 both the amount you contribute and any capital gains, dividends or interest on those funds \u2014 is also sheltered from tax until you take it out of the plan. If you withdraw RRSP funds when you retire, you may be in a <a href=\"https:\/\/www.nerdwallet.com\/ca\/personal-finance\/tax-brackets-in-canada\">lower tax bracket<\/a> than when you contributed the money and will therefore pay less tax on the withdrawal.<\/p>\n\n\n\n<p class=\"\"><strong>\u00bb MORE:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/rrsp-benefits\">10 ways to make the most of your RRSP<\/a><\/p>\n\n\n\n<h4 id=\"rrsp-benefitsadvantages-compared-to-the-tfsa\"  class=\"wp-block-heading\">RRSP benefits\/advantages compared to the TFSA<\/h4>\n\n\n\n<p class=\"\">While RRSPs and <a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/how-to-invest-in-tfsa\">tax-free savings accounts (TFSAs)<\/a> are both registered savings vehicles, they offer investors different benefits, especially tax perspectives.<\/p>\n\n\n\n<ul class=\"\">\n<li class=\"\">Whereas RRSP contributions are tax-deductible, any money you put into your TFSA is not.<\/li>\n\n\n\n<li class=\"\">When you withdraw money from your RRSP, you pay tax, though possibly at a lower rate if you\u2019re retired. TFSA withdrawals are always tax-free, as you\u2019ve already paid tax on the money you\u2019ve invested.<\/li>\n\n\n\n<li class=\"\">With the rules around withdrawals, RRSPs are designed for retirement savings, while you can use TFSAs for any savings goal.<\/li>\n<\/ul>\n\n\n\n<p class=\"\"><strong>\u00bb See our picks:<\/strong> <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-tfsa\">Canada\u2019s Best High-Interest TFSAs<\/a><\/p>\n\n\n\n<div class=\"wp-block-nerdwallet-blocks-faq c-block-faq\" itemscope itemtype=\"https:\/\/schema.org\/FAQPage\"><div class=\"c-block-faq__wrapper\"><div class=\"c-block-faq__header\"><h2 id=\"\"  class=\"c-block-faq__title\"><\/h2><\/div><div class=\"c-block-faq__section-list\">\n<div class=\"wp-block-nerdwallet-blocks-faq-section\"><div class=\"c-block-faq-section c-block-accordion-wrapper\"><div class=\"c-block-accordion__header\"><h3 id=\"faqs-about-rrsps\"  class=\"c-block-accordion__title\">FAQs about RRSPs<\/h3><\/div><div class=\"c-block-accordion-list\">\n<div class=\"c-block-faq-item c-block-accordion-item c-block-accordion-item--active\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\">How much can I put in my RRSP? <\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">Each year, the amount you can contribute to your RRSP depends on how much you\u2019ve earned. You can contribute 18% of your total income earned in the previous year, up to a maximum limit set by the government (in 2023, this amount is $30,780), plus any unused contribution amounts of earlier years.<\/p>\n\n\n\n<p class=\"\">To find out your RRSP contribution limit for this tax year, check your Notice of Assessment from the previous tax year or log in to <a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/cra-my-account\">My Account on the CRA website<\/a>.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"c-block-faq-item c-block-accordion-item c-block-accordion-item--active\" itemscope itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\"><div class=\"c-block-accordion-item__header\"><div class=\"c-block-accordion-item__title\" itemprop=\"name\">Does an RRSP reduce taxable income?<\/div><\/div><div class=\"c-block-accordion-item__content\" itemscope itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\"><div class=\"wp-block-nerdwallet-blocks-faq-item\" itemprop=\"text\">\n<p class=\"\">Yes, RRSP contributions reduce your net taxable income. You will also likely be paying less tax on these funds when you take them out of the plan, often at retirement, when you\u2019re in a lower tax bracket.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div>\n\n\n\n\t<section class=\"c-block-card-grid container\"\n\t\t\t>\n\t\t\t\t\t<h4 id=\"dive-even-deeper\"  class=\"c-block-card-grid__title\">\n\t\t\t\tDIVE EVEN DEEPER\t\t\t<\/h4>\n\t\t\n\t\t<div class=\"c-block-card-grid-scroll column-four\">\n\t\t\t<div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-1147\" class=\"c-block-card post-1147 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-type-of-banking-accounts cluster-registered-banking-products\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/tfsa-vs-rrsp\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"191\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/07\/TFSA-vs-RRSP-e1626728346207-460x191.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"TFSA vs. RRSP: How to Choose\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"tfsa-vs-rrsp-how-to-choose\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/tfsa-vs-rrsp\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tTFSA vs. RRSP: How to Choose\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>The tax-free withdrawals of a TFSA offer more flexibility, but the tax-deferred contributions of an RRSP are great for retirement. The type of account you choose will depend on your savings goals.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/hannah-logan\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/07\/Hannah-Logan-e1626212867388-40x40.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Hannah Logan<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-1147 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-4146\" class=\"c-block-card post-4146 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-type-of-banking-accounts cluster-registered-banking-products\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/rrsp-contribution-deadline\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"198\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/GettyImages-825154794-e1644961213815-460x198.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"How to Prepare for the 2024 RRSP Contribution Deadline\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"how-to-prepare-for-the-2024-rrsp-contribution-deadline\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/rrsp-contribution-deadline\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tHow to Prepare for the 2024 RRSP Contribution Deadline\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>March 3, 2025, is the last day you can make a tax-deductible contribution to your RRSP for the 2024 tax year. But not everyone needs to rush to meet this deadline.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/sjahagirdar\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/03\/Headshot_Siddhi-Jahagirdar-e1648746969870-40x40.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Siddhi Bagwe<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-4146 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-3044\" class=\"c-block-card post-3044 page type-page status-publish has-post-thumbnail hentry content-classification-investing topic-investing-basic cluster-retirement\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/how-much-money-to-retire\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"192\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/12\/GettyImages-969583658-e1639423091384-460x192.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Here&#8217;s How Much Money You Need To Retire\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"heres-how-much-money-you-need-to-retire\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/investing\/how-much-money-to-retire\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tHere&#8217;s How Much Money You Need To Retire\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>Common guidance is to save enough money to have 70% of your income available each year for 25 years of retirement.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/hannah-logan\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/07\/Hannah-Logan-e1626212867388-40x40.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Hannah Logan<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-3044 -->\n<\/div><div class=\"c-block-card-grid-scroll__column\">\n<div id=\"post-1144\" class=\"c-block-card post-1144 page type-page status-publish has-post-thumbnail hentry content-classification-banking topic-type-of-banking-accounts cluster-registered-banking-products\">\n\t<div class=\"c-block-card__inner c-block-card__inner--large\">\n\t\t\t<a class=\"c-block-card__image-wrapper\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-an-rrsp\" rel=\"bookmark\">\n\t\t<img loading=\"lazy\" width=\"460\" height=\"191\" decoding=\"async\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2021\/07\/What-is-a-Registered-Retirement-Savings-Plan--e1626727406612-460x191.jpg\" class=\"c-block-card__image wp-post-image\" alt=\"Registered Retirement Savings Plans (RRSPs): How They Work\" \/>\t<\/a><!-- .c-entry__thumbnail -->\n\t\t\t<div class=\"c-block-card__content-wrapper\">\n\t\t\t\n<h4 id=\"registered-retirement-savings-plans-rrsps-how-they-work\"  class=\"c-block-card__title\">\n\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/what-is-an-rrsp\" rel=\"bookmark\" class=\"c-block-card__title-link\">\n\t\tRegistered Retirement Savings Plans (RRSPs): How They Work\t<\/a>\n<\/h4>\n\n\t<div class=\"c-block-card__content\">\n\t\t<p>An RRSP is a retirement account that you or your common-law partner or spouse can contribute to and receive huge tax benefits. Start saving early to plan for a happy retirement.<\/p>\n\t<\/div>\n\n\t<div class=\"c-block-card__authors\">\n\t\t\t\t<div class=\"nw-written-by-layout-inline\">\n\t\t\t\n\t\t\t<div class=\"nw-written-by-layout-inline--wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.nerdwallet.com\/ca\/author\/sjahagirdar\" class=\"author url fn\" rel=\"author\"><img loading=\"lazy\" decoding=\"async\" width=\"32\" height=\"32\" src=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/03\/Headshot_Siddhi-Jahagirdar-e1648746969870-40x40.jpg\" class=\"avatar avatar-32 photo wp-post-image\" alt=\"\" \/>Siddhi Bagwe<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><!-- .c-card__content-wrapper -->\n\t<\/div>\n<\/div><!-- #post-1144 -->\n<\/div>\t\t<\/div>\n\t<\/section>\n\n","protected":false},"excerpt":{"rendered":"<p>Use these high-interest RRSPs to make contributions in the short term before deciding how to invest your retirement funds in the long term. <\/p>\n","protected":false},"author":4,"featured_media":4346,"parent":100,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/article-sidebar.php","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":true,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":"[]","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":"","_nw_pros_cons_block_schema":""},"content-classification":[15],"topic":[106],"cluster":[211],"pp_author":[20],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Best RRSP Accounts and Rates in Canada for 2025 - NerdWallet<\/title>\n<meta name=\"description\" content=\"The best high-interest registered retirement savings plan (RRSP) accounts offer tax breaks and help you build your nest egg for retirement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-rrsp\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Best RRSP Accounts and Rates in Canada for 2025 - NerdWallet\" \/>\n<meta property=\"og:description\" content=\"The best high-interest registered retirement savings plan (RRSP) accounts offer tax breaks and help you build your nest egg for retirement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-rrsp\" \/>\n<meta property=\"og:site_name\" content=\"NerdWallet Canada\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NerdWallet\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-13T23:15:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.nerdwallet.com\/ca\/wp-content\/uploads\/sites\/2\/2022\/02\/GettyImages-1277773881-e1645655618229.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2007\" \/>\n\t<meta property=\"og:image:height\" content=\"832\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@NerdWallet\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Athena Cocoves\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-rrsp\",\"url\":\"https:\/\/www.nerdwallet.com\/ca\/banking\/best-high-interest-rrsp\",\"name\":\"Best RRSP Accounts and Rates in Canada for 2025 - 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