Right for you if:
- You want to provide your children with the benefits of higher education
- You need additional funds to pay for your child’s post-secondary education
We all want the best for our children and that includes the benefits of a higher education, but paying for it takes planning and commitment. With the Republic Bank Education Savings Plan (ESP) you can get a head start and establish a clear path toward your child’s higher education.
Offset your borrowing costs tomorrow by saving today
Opening an ESP makes you eligible for borrowing rate discounts when you take out a future education loan to help pay for your child’s post-secondary education.
The longer you save, the higher the discount: The amount of the discount is based on the length of time the plan has been active, with the earned loan discount rate1 growing over the course of the first five years the ESP is opened.
| See how much you can save | |
|---|---|
| Time in the ESP | Loan Discount Earned1 (off posted rates) |
| 1 year | 5% |
| 2 years | 10% |
| 3 years | 15% |
| 4 years | 20% |
| 5 years | 25% |
Additional Information
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How To Apply
To Apply for a Republic Bank account, you’ll need visit your local Republic Bank branch and bring the following items with you:
1. One valid primary piece of government-issued identification, with photograph and signature, such as:
- Passport
- National ID or voter's card
- Driver's License
- Military ID card
- Permanent resident card
2. One secondary piece of identification. The following kinds are valid:
- An additional primary piece of identification
- Birth certificate, credit card, debit card, tax ID card
- Employee ID or letter from your employer
3. Proof of address, such as:
- Utility bill
- Bank account statement
- Copy of lease or letter from landlord
If you are a non-resident customer, a reference letter or a current account statement from a reputable bank is required.
4. The account Application Form [PDF: 614 Kb]
Also, be sure to read our Personal Financial Services Agreement [PDF 360 kb] for all the details on having an account with Republic Bank.
Have questions? Contact us or visit your nearest Republic Bank branch for more information.
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You might also need
Republic Bank Savings Reward Plan
Earn an additional 1% bonus interest on the annual average monthly balance of your savings contributions.
Still have questions?
We’ve got answers. Check out our answers to common questions about banking with Republic Bank.
Application Form: Bring it with you on your next visit.
Deposit Services Application
N/A | pdf : 599 KB
Ready to Apply?
In Person
Contact us for more information
1 Discounts may vary by country. See your branch for current rates.