RRSP Loans

A Registered Retirement Savings Plan (RRSP) is a smart way to build your retirement savings. If you don't have money available to contribute to an RRSP then using an RRSP loan to make your contribution can make sense. By making a RRSP contribution with borrowed funds you will save taxes now and help build a large retirement fund for your future.

By taking out an RRSP line of credit or loan, you will be able to maximize tax benefits and earn interest right away. The tax refund that you will receive from your RRSP contribution is usually much more than the interest you'll pay on the loan. In some cases, the refund is big enough to repay the RRSP loan.

RRSP Line of Credit

Maximize your annual RRSP contributions with our "Re-Advanceable RRSP Loan.” You only need to apply once and the next time you want to borrow funds, all you have to do is call and tell us how much you would like to borrow and we'll deposit the funds directly to your RRSP.


  • Establish a RRSP loan credit limit and then, with one phone call, borrow up to that limit for RRSPs every year without re-applying
  • Use your tax refund to pay off your loan - you can wait up to 90 days to begin repaying your loan
  • Receive your tax receipt the day you make your contribution.
  • Borrow up to your maximum eligible RRSP contribution per year as defined by Revenue Canada
  • Pay off your loan at any time
  • Wide range of RRSP options.


RRSP Catch-Up Loan

A Catch-up loan gives you the ability to take full advantage of your unused RRSP contributions from previous years. The Catch-Up RRSP Loan is an easy and affordable way to get caught up. And it works like this. Revenue Canada allows you to contribute up to 18% of your previous year's income to a maximum $24,270 (minus any pension adjustments) each year. Any unused RRSP contribution is automatically carried forward each year. Simply bring in your notice of assessment from Revenue Canada which shows you how much you can contribute and we will help you arrange a RRSP loan to maximize your tax benefits and grow your retirement savings.


  • Borrow up to 100% of the RRSP being purchased
  • 2 – 5 year terms available, on demand
  • Monthly or bi-weekly payment schedules - repay your loan quicker
  • Pay off your loan at any time
  • Life and disability insurance available
  • Wide range of RRSP options.


*Conditions Apply - OAC. See in branch for details how and if you can qualify for this rate.
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