CWB Canadian Western Bank

Registered education savings plan (RESP)

It’s never too early to start saving for your child’s education

With rising post-secondary education costs, an RESP is a good option for investing for your child’s future. CWB’s RESP is managed by Concentra Financial.


Saving now will mean spending less later when your child decides to pursue a post-secondary education.

  • Based on your annual contributions receive up to $500, per child each year through the federal government’s Canada Education Savings Grant (CESG).
  • Receive up to a maximum lifetime CESG payment of $7,200 per child.
  • Additional provincial grants may be available.
  • Contribute up to $50,000 over the lifetime of your child’s RESP without tax penalties.
  • A personal banking specialist will walk you through the application process so you can maximize your federal and provincial grant contributions. 
  • If your child doesn’t choose to attend post-secondary, your contributions and gains are returned to you, minus government grants received and interest earned on those grants. 

Get started now

Stop by your local branch or call today to get started. One of our personal banking specialists will be pleased to help you.

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