If you are temporarily short on cash and can't contribute to your registered retirement savings plan (RRSP), an RRSP loan may be just the thing for you. In fact, the money you receive from your tax return and investments might even cover the cost of the loan. This way, you can continue to contribute to your RRSP or increase your contributions, no matter your financial situation. What's more, if you use your tax return towards payment of your loan balance, the loan will be repaid more quickly.
Why take out an RRSP loan?
You receive a higher tax return
You take advantage of unused contributions
You reach your savings objectives more quickly
The advantage of taking an RRSP loan with us
A wide choice on investment funds
Monthly payments in line with your budget
Flexibility to repay your loan, in part or in full, at any time
Competitive interest rates
The rates shown are fixed in accordance with the Royal Bank of Canada's Prime Rate (PR).
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