Permanent Residents

We understand that as newcomers to Canada, setting up your life here is your top priority, and part of that is managing your finances. From opening a bank account to purchasing a home, we have products and services to help you every step of the way.

RRSP & TFSA planning as a newcomer

Curious about your savings and investment options in Canada? Consider these two plans:

  • Registered Retirement Savings Plan (RRSP)
  • Tax-Free Savings Account (TFSA)

Choose from several RRSP and TFSA investment options offered at TD. We'll work with you to create a personalized plan to suit your savings goals and walk you through the investment process.

RESP planning for newcomers

Looking to invest in your child's education? Contribute money to a Registered Education Savings Plan (RESP). Funds will grow tax-deferred until withdrawn.

Depending on whether you're saving for education for you, one child or for multiple children, you can choose an individual RESP or a family RESP. From there, talk to a TD Financial Advisor who can help you find a RESP plan that fits your needs.

RESP planning considerations

Once you've opened a RESP with TD, consider these factors to help you plan your contributions:

  1. Cost of tuition, course materials, living expenses, etc.

  2. Government grants such as the Canada Education Savings Grant.

  3. Contribution limits of up to $50,000 per child.

  4. Potential risks such as market fluctuations.

Starting your mortgage journey

If you're ready to put down roots and purchase your first home, you may need to get a mortgage. And we're ready to help guide you through the process. Pick the length of time you want to pay your mortgage in. Choose the type of interest you want to pay — fixed or variable rate. Then pick the flexibility of your payments — open or closed mortgage.

More resources for newcomers

  • Explore chequing accounts, savings accounts, credit cards and mortgages.

  • We make it easy to send money to over 200 countries and territories with TD Global TransferTM.

  • Bank online, in person or by phone. Plus, use the TD app for convenient banking on the go.

Get in touch

Have a question? Find answers here