New hep for new born baby

[Need Canadian Pr]

Hi I am planning to open Resp account for my new born baby . I don't have any idea about it as he ( my son ) is my baby

So my question :

which bank or company offer the best return for resp

Should I open individual or family or group account

Bank or private company, who would be
the safest choice

Please help me if you have knowledge .

Thanks

 

[canuck78]

RESP is just a way of sheltering money tax free and having the government match some of your contributions. You will have to decide what you do with the money within the RESP. There may be limitations of what type of investments you can hold within an RESP between the banks (mutual fund, etf, gic, etc.). There also may be a differences in fees based on what you buy and sell withing the RESP. Do some research you will find a lot of information on the topic and look up the various banking institutions.