As a foreign national, should I open a SRS account? Is it worth it? And more importantly, with which bank and invest that money in what instrument?

Hi anon,

An SRS contribution is a great and typical way for getting a form of tax relief. As the name suggests, it's main aim is for retirement. However, the interest rate is rather Low so people usually use it to invest in different instruments eg. Investment plans.

Of course, there are a variety of investment plans out there that will probably be able to outbid the current SRS rate far and well so do consult a licensed financial advisor to explore your options.

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