Do RRSP Accounts Have Interest? Understanding Your Options in Canada
When it comes to the landscape of retirement planning in Canada, the one landscape that always catches the eye is the world of the Registered Retirement Savings Plan (RRSP). Most Canadians must be able to navigate the ins and outs of RRSP growth. A typical query is whether or not RRSP accounts earn interest. This article will cover the details of RRSPs, particularly how to make the money in these accounts grow because of interest and other forms of investment returns. What is a Registered Retirement Savings Plan? A Registered Retirement Savings Plan (RRSP) is a type of Canadian account for holding savings and investment assets. But first, let us understand what RRSP really is before we consider the return of interest and the possibility of other returns. An RRSP (Registered Retirement Savings Plan) is a Canadian account that is used to register and save towards your retirement. It enables Canadians to keep and invest income tax-free until retirement when they withdraw it at a lower ta...