Making the maximum annual contribution to your Registered Retirement Savings Plan (RRSP) is one of the best ways to take advantage of compound interest and build a secure retirement. If you are a bit short of reaching your max RRSP contribution, an RRSP loan is a great way to supplement your contribution and grow your retirement fund.
A Registered Retirement Savings Plan (RRSP) is a retirement savings account registered with the government. Contributions to your RRSP are tax-deferred until you withdraw. The contribution amount is deducted from your gross income, potentially lowering the tax you pay on your income today.
Interest Rate |
6.45%* (*Rate based on an Insured loan) |
Term Length |
12 Months |
Borrow Up To |
Maximum amount is your RSP contribution limit |
Payment Defferal |
Deferred first payment of 90 days and interest free for that period |
Interest Rate |
7.45% |
Term Length |
12 Months |
Borrow Up To |
$25,000 |
Interest Rate |
8.45% |
Up to 60 Months |
Borrow up to $10,000 |
Up to 84 Months |
Borrow up to $10,000 - $50,000 |
The rates will default to posted rates in the application form, and may be adjusted after advisor review. If we have helped you with lending in the past, your information will conveniently auto-populate in the application form.
Note: you must be 19 years of age or older to apply.
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