Periodic Savings and Investment Plan - The Goal Getter
The Periodic Savings and Investment Plan (PSIP) is a tool that helps you put money aside on a regular basis.
For your short- and medium-term projects, the Goal Getter plans can make a difference in achieving your savings objectives.
For your long-term project, the Investment Plan (PAC) might be a better solution.
THE GOAL GETTER
The Goal Getter plans allow you to put aside a predetermined amount of money on a weekly or monthly basis and over a predetermined period of time.
Advantages:
- Ease: It’s much simpler to put aside a small amount on a regular basis than a large one-time amount. As your payments are made automatically, you can grow your savings without thinking about it.
- Flexibility:The Goal Getter plans offers you more flexibility. You choose how much and how often you want to save. Modify the program or cancel it altogether at any time.
Two plans are available:
- Budget Plan
- Security Plan
| THE GOAL GETTER11 | ||
|---|---|---|
| Budget Plan | Security Plan | |
| Your need |
|
|
| Horizon | Short term | Medium term |
| Eligible to a registered account (RRSP, TFSA) | No | No |
| Duration | 1 year | 5 years |
| Return | None | Low |
| Minimum payment | $10/week $50/month |
$25/week $100/month |
| Payment frequency | Weekly, monthly | Weekly, monthly |
| Modifications allowed |
|
|
| Annual statement of account | Yes | Yes |
| Automatic renewal | Yes | No |
| Payments can be made by an individual other than the beneficiary | Yes | Yes |
| Monthly fees | No | No |
Summary
This product is suited for you if:
- You are seeking a simple and efficient savings tool;
- You want to adopt sound savings habits.
This product is not suited for you if:
- You don’t have any difficulty to save.
*Marque de commerce de Visa Int., utilisée sous license.
Legal notice
1. For further information about this service and banking fees, please refer to the My Money fee schedule guide.
