Investing early and often, even starting with a small amount, helps your savings grow through compound growth.
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Making regular contributions to your savings can make a big difference over time compared to annual lump sum instalments.
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Contributing regularly through a CSPC S P can help keep you focused on your long-term goals, and reduce the temptation to use your money for impulse purchases.
Try our simple Savings Calculator to find out how much you could save with a CSP
Try our CSP Calculator
Simply decide on a contribution amount, schedule ($50 per month or $25 semi-monthly is the minimum), which account to withdraw from, and which savings or investment solution you want to contribute to.
Once it’s set up, your CSPC S P will then make debits and deposits according to your schedule, automatically. Open an account, or sign into online banking to get started.
The cost to open a Continuous Savings Plan.
Total portfolio size after 30 years, assuming bi-weekly payments of $200 and annual interest of 6%.
The minimum monthly contribution (or $25 semi-monthly).
Here are a few ways to make sure you’re taking advantage of what a CSP has to offer.
Make sure the investments you contribute to align with your risk tolerance and investment horizon. Saving for retirement? Stocks, ETFs, and mutual funds are great choices. Saving for the short term? GICs and bonds are great options.
While $50 a month is the minimum contribution you can make, your CSP will go much further if you contribute as much as possible, up to your account’s annual maximums. Get a promotion at work? Make sure to increase your CSP contributions to take advantage of long-term savings.
More frequent contributions can also go a long way. For example, contributing over the course of the year allows you to better take advantage of compounding interest than investing the same amount as a lump sum at the end of the year.
How Investing $50/week adds up:
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