BMO Bank of Montreal has hired additional call centre staff and established a dedicated phone line in an effort keep up with customer demand for the Registered Disability Savings Plan, the bank said Tuesday.

“At the end of January we have set up more than 3,000 RDSP accounts from coast to coast,” says Linda Knight, president and COE, BMO Investments Inc. “This level of demand is a testament to the popularity of this new program and its importance to Canadian families.”

BMO Bank of Montreal is the first bank to offer Canadians the RDSP, a new federal government initiative introduced to enhance the long-term financial security of people with disabilities.

Customers can apply for a BMO RDSP through BMO’s investment call centre, BMO Investment Centre at 1-800-665-7700.

Contributions to an RDSP may qualify for payments from the Canada Disability Savings Grant (CDSG) program to a lifetime maximum of $70,000 per beneficiary.

Lower-income families may qualify for payments from the Canada Disability Savings Bond (CDSB) program without having to make a contribution to an RDSP, up to a lifetime maximum of $20,000.

Parents must make a contribution by Mar. 2 in order to receive a 2008 contribution from the federal government.