* Applicable to online brokerage transactions for Canadian and U.S. stocks and ETFs. Other fees may apply.
1. Subject to credit approval by National Bank
On this page
What is an RRSP | Why contribute | At a glance | How to contribute | Investment products | Other plans
What is an RRSP?
An RRSP is a registered plan with the Government of Canada that lets you defer your income tax until after you retire. By putting money away in an RRSP, you're reducing your annual taxable income for the year you contribute.
From there, your savings grow until you withdraw it for either your retirement or other projects.
Why contribute to an RRSP?
Get the retirement you deserve
Enjoy peace of mind by saving now for the retirement of your dreams.
Buy your first home
Withdraw up to $60,000 out of your RRSP to use as a down payment through the Home Buyers' Plan (HBP).
Going back to school
Withdraw up to $20,000 from your RRSP over four years to help fund a new degree with the Lifelong Learning Plan (LLP).
RRSP at a glance
18% of your income
The maximum contribution you can make to your RRSP is 18% of your previous year's income or the current fixed contribution limit ($32,490 for 2025).
How to open and contribute to an RRSP?
Are you already a National Bank client and have access to your online bank? Sign in and start investing today.
Open an RRSP from your online bank
Complete our secure online form to contribute to your RRSP.
Open an RRSP via our direct brokerage platform
Are you a self-directed investor? Complete our secure online form and contribute to your RRSP via your brokerage account.
Not a client yet?
Our team is here to help you open your RRSP.
Do you need funds for your RRSP contribution? By opting for a term loan or a line of credit, you can maximize your income tax return and use it to repay the amount you borrowed, while saving for retirement.
Our investment products for your RRSP
Grow your RRSP with investment solutions that match your goals.
Cash Advantage Solution
Protect your savings while benefiting from an interest rate that increases across different tiers.
Guaranteed Investment Certificate (GIC)
Opt for a GIC as a secure investment that offers a pre-determined return from day one.
Portfolio solutions
Invest in a diversified and comprehensive range of investment funds with our NBI Portfolios and NBI Sustainable Portfolios.
Other tax-sheltered plans
FHSA
The FHSA is a tax-free savings account designed to help you buy your first home.
RESP
Save for your children’s education and receive up to $12,800 in government grants.
We’re here for you
Ready to contribute?
Contribute online or speak with one of our advisors to choose the best plan for you.
Got a question about RRSPs?
Visit our help centre to get the answers you're looking for.
Little details that matter
Find the mailing dates for the 2024 tax season in our Help center
To learn about RRSP fees, please consult the Fee Guide – Personal Banking Solutions under Other Fees.
To learn about our process for notifying you of fee increases or new fees, please refer to the Interest and Fees section of our Personal Bank Holding Agreement.
If you are dissatisfied with our service, please consult our Complaint settlement page.
Learn more about the RRSP on page 4 of the Account application form.
