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Adoption loans

Financing an adoption

Make your adoption dreams a reality

You've thought long and hard about adopting a child, and you want to make sure you can give your son or daughter everything they need. It's important to know what the adoption process is likely to cost, so you can plan your finances accordingly.

4 tips on adoption financing

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Where should you start?

To make an informed decision, start by researching the process and the associated costs. If you are adopting locally, contact your provincial government. If you are in Quebec, you should know that the process is different. For instance, you cannot submit several applications at once. Local adoption fees are often pretty low.

International adoptions usually cost much more, although they vary based on the child's country of origin. For example, adopting from Bulgaria costs around $40,000, while adopting from Niger is around $25,000.

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Adoption financing

Provincial and federal tax credits are available to help you finance an adoption. Other factors can also affect your finances when you adopt a child. For instance, if you take parental leave when your child first arrives, it could lower your take-home pay.

personal loan1 is a flexible solution that can help you finance every stage of the adoption process. Consider insuring your loan so that your payments will not become a burden to your loved ones in the event of critical illness, disability or death. Want to know how much you could borrow? Find out now!

Calculate your borrowing capacity

Man in a kitchen helps his little girl cut a slice of bread
Man in a kitchen helps his little girl cut a slice of bread
Man in a kitchen helps his little girl cut a slice of bread
Woman shows a document to a young couple

Meet with an advisor

Adopting a child is exciting, but it's a complicated, drawn-out process. Don't be afraid to ask for help. A National Bank advisor can help you plan the financial side of things before, during and after the adoption process.

Make an appointment
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Tip

A systematic savings plan can help you save and prepare for your child's arrival.

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Ensure your child's future

Once you've completed the adoption process, consider opening an RESP to save up for your child's postsecondary studies. It's important to start contributing as soon as possible.

See our RESPs

Children in a classroom write in a notebook
Children in a classroom write in a notebook
Children in a classroom write in a notebook
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Legal Disclaimer

1. Subject to credit approval by National Bank.

Understanding adoption financing

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Couple playing with their adoptive children

Need advice?

Talk to one of our experts to learn about your financing options.

Make an appointment

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