Best RESP GIC Rates .. The Bonds List

Despite other shortcomings (don't get me started), Questrade, does offer the best way to earn a guaranteed RESP GIC return in those years before redemption.  Perhaps you had some equity investment in the RESP in those early years and are looking to lock in the returns for the eventual redemption.  A self-directed Questrade RESP account may be the answer since you can sell your securities and buy GICs in the same account.

Top of the Bonds List

A big bank like RBC (Royal Bank) offers returns of 1.3% to 1.4% on 1 to 2 year non-redeemable GIC deposits in an RESP account.  Minimum deposit is $1000. Questrade does better.  Their returns are listed in this:

Questrade "Bonds" List

Scroll to the end of the list for the TERM DEPOSITS / GIC: 1 - 6 YEARS table where you'll find better rates from 2.0% to 2.25% for 1 to 2 year terms.  Rates are offered by several banks and trust companies.  Interestingly, Royal Bank offers 1.4% to 1.9% rates on 1 and 2 year deposits through Questrade - higher than what is shown on their web site: RBC GIC rates link

Bottom of Bonds List

Buying the GIC has no trading fee, even though its shown in your 'trading' account.  The GIC rates are competitive with the best non-RESP GIC rates you can get from someone like Achieva Financial, who we use for TFSA and RESP GICs.

The Questrade onds List also has a bunch of Bonds ... real Bonds, from Secondary Municipal, Government and Corporate Strips, High Yield, Corporate and Provincial products.  Scanning the corporate bonds list you'll find that you won't crack the 3.0% yield to maturity for most issues unless you lock up your money for 6 years.