PayDay Plan RRSP
The PayDay Plan RRSP helps you save for retirement every month - and it rewards you with a higher interest rate for doing so! The PayDay Plan RRSP is easy, convenient and rewarding.
This term deposit is a savings plan that enables you to build up your RRSP investments on a monthly basis. Once you have reached a savings goal of $1,000, the funds may be reinvested in non-redeemable term deposit or mutual fund.
- Available in 6, 12, 18 and 24 month terms
- Begin with as little as $1.00 and automatically contribute as low as $50.00 a month
- Make additional contributions at any time
- Earn a higher interest rate than a variable RRSP savings account
- Interest compounds annually - earn interest on your interest
- Reinvest in a non-redeemable RRSP term deposit or mutual fund when the balance reaches $1,000.00