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Borrow to contribute to an RRSP

Our RRSP loans help you increase your annual RRSP contribution or cover you if you’re temporarily short of cash at RRSP time.

Not contributing one year can have a real impact on your retirement income objectives. Borrowing to contribute to your RRSP might be a better plan. Your tax savings and investment earnings that accumulate on a tax-deferred basis compensate for the real cost of the loan.

Did you know?

To avoid borrowing next year, consider a Regular Instalment RRSP which allows you to contribute throughout the year.

Which loan is best for you?

RRSP loan

Borrow amounts of over $12,500 at a better rate than a personal loan. Ideal if you plan to repay your loan quickly.

Unused contribution room RRSP loan

If you haven’t made the maximum allowable RRSP contributions each year, the difference has been carried forward since 1991 as unused contribution room, which you can use to contribute at any time.

The unused contribution room RRSP loan allows you to borrow at an advantageous rate. You can repay it over a 10-year period.

Multiproject Option

Lets you re-borrow money already paid on your mortgage to make RRSP contributions.

Versatile Line of Credit

Allows the use of home equity to obtain financing at a very attractive rate.

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