PayDay Plan RRSP
Apply for or contribute to an RRSP
The PayDay Plan RRSP helps you save for retirement every month - and it rewards you with a higher interest rate for doing so! Saving doesn't have to be painful - the PayDay Plan RRSP is easy, convenient and rewarding.
- 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
RRSP terms and conditions
Speak to a Westminster Savings representative for full terms and conditions.
- Try to maximize your RRSP contributions when your income is highest: this can generate a larger income tax refund or reduce the amount of taxes you owe. Consider an RRSP loan to help maximize your contributions.
- Automatically renew your term deposit to enjoy the power of compounding interest, or transfer to an RRSP savings account to keep your options open.
- Maximize all of your savings and investments: speak to a Westminster Savings representative to create a full savings and investment strategy.