TD RESP Review 2026 — TD Bank Education Savings Plan Fees & Features

7.8

Overall Rating

0.35%

e-Series MER

Account Fee

Bottom line: TD is a solid RESP choice for families who value in-branch support and want access to TD's excellent e-Series index funds. Watch out for advisors steering you toward higher-fee mutual funds.

TD RESP Options

TD offers two main paths for RESP investors:

1. TD Mutual Funds RESP (Branch)

Opened through a TD branch advisor or over the phone. Invests in TD's actively managed mutual funds with MERs typically ranging from 1.5% to 2.5%. This is the product most advisors will recommend — but it's not the best value option for most families.

2. TD Direct Investing RESP (e-Series)

A self-directed account through TD Direct Investing that gives access to TD's e-Series index funds — one of Canada's best-kept secrets in low-cost investing. The e-Series funds track major indices (Canadian equity, US equity, international equity, bonds) at MERs around 0.33–0.44%.

Hidden gem: The TD e-Series funds (e.g., TD Canadian Index Fund - e: TDB900, TD US Index Fund - e: TDB902) are some of the lowest-cost mutual funds in Canada. A 4-fund e-Series RESP portfolio can achieve a blended MER of around 0.35% — much lower than typical bank mutual funds.

TD RESP Key Facts

Feature	TD Mutual Funds (Branch)	TD Direct Investing (e-Series)
How to open	TD branch or phone	TD Direct Investing online
Investments	TD mutual funds	e-Series + all listed ETFs/stocks
MER	1.5–2.5%	0.33–0.44% (e-Series)
Annual account fee	$0	$0–$25 (waived above $15K)
Advice available	Yes, in-branch	Self-directed, no advice
CESG/CLB	Yes, automatic	Yes, automatic

The TD e-Series RESP Strategy

For TD customers who want low-cost RESP investing, the e-Series route is excellent. A simple 3-fund or 4-fund portfolio covering Canadian, US, international, and bond markets achieves broad diversification at around 0.35% total MER.

Sample TD e-Series RESP portfolio (aggressive, age 0–12):

25% TDB900 (TD Canadian Index Fund - e, MER 0.33%)
45% TDB902 (TD US Index Fund - e, MER 0.35%)
20% TDB911 (TD International Index Fund - e, MER 0.44%)
10% TDB909 (TD Canadian Bond Index Fund - e, MER 0.44%)

Rebalance annually and shift more toward bonds as your child approaches 18. This approach rivals Wealthsimple and Questrade on cost while giving you the comfort of a major Canadian bank.

CESG at TD

TD processes CESG applications automatically for both the branch mutual fund RESP and the TD Direct Investing RESP. Grant money typically arrives within 6–8 weeks of a contribution — slightly slower than Wealthsimple but consistent.

CLB applications are also handled, though you may need to explicitly request this at a branch or contact TD Direct Investing support to ensure it's set up correctly.

Who Should Choose TD RESP?

Existing TD customers who want everything at one bank
Parents who value in-branch support and face-to-face advice
Investors willing to set up the e-Series account for low-cost indexing
Families in smaller communities where TD branch access matters

Watch out: If you open an RESP at a TD branch, the default recommendation will be TD's actively managed mutual funds with MERs of 1.5–2.5%. Always ask specifically about the TD Direct Investing e-Series option if low fees are your priority.

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FAQs

What is the best TD RESP investment? +

The TD e-Series funds through TD Direct Investing offer the best value — low MERs around 0.33–0.44% with broad market exposure. Avoid actively managed TD mutual funds with 1.5–2.5% MERs unless you specifically value the advisor relationship.

Can I open a TD RESP online? +

Yes, TD Direct Investing accounts can be opened online. Branch-based mutual fund RESPs typically require a visit or phone call.

Does TD support family RESPs? +

Yes. TD offers both individual and family RESP accounts, available through both the branch and TD Direct Investing.

Related: Best RESP Providers · RBC RESP Review · Wealthsimple RESP · TFSA · RRSP · FHSA