中国银行全球门户网站
简体中文 | ENGLISH


 



   Home >> BOC Canada >> Personal Banking >> Deposit

Registered Retirement Savings Plan (RRSP)


 

Product Name

Registered Retirement Savings Plan (RRSP)

Product Description

The Registered Retirement Savings Plan (RRSP) is established by the Canadian federal government to encourage the tax residents to save money for retirement. We offer two types of CAD RRSP account allowing the customer to enjoy the benefits of this tax-deferral program.

Feature

RRSP Passbook Savings Account

1. Customers may deposit at anytime;

2. Interest is calculated based on the daily closing balance and paid at the end of each month;

3. Interest is based on our daily Table of Rate.

RRSP Term Deposit Account

1. The deposit terms are from 30 days to 5 years;

2. Interests to be paid on maturity;

3. Interest is based on our daily Table of Rate;

4. Non-redeemable before maturity.

Target Customers

The tax resident who has earned income can contribute to RRSP account until December 31 or the year the individual turns 71 years of age. Account holder must have a valid Social Insurance Number (SIN).

Process

The customer goes through relevant procedures at any branches of Bank of China (Canada) with relevant identification documents.

Required Identity Documents

At least one piece of photo ID is required to open the account (e.g. passport, permanent residence card, citizenship card, or valid Canadian driver's license and etc.

Kind Reminder

1. Customers can withdraw money from their RRSP before retirement, but tax withholding may occur immediately. Please visit CRA website for detail information.

2. Customers can transfer funds from RRSP to other financial institutions, but service charge will apply.

  [ Close ]

 

hotlink


Personal Banking

     Deposit
     Personal Loan
     Remittance & Exchange
     Bank Cards
     Other Services

 
  ·Disclaimer  ·Compliance & Supervision  ·CDIC  ·Customer Privacy Policy  ·Customer Complaint Handling  
 
Copyright © BANK OF CHINA(BOC) All Rights Reserved.