Borrowing
RRSP loan
Retirement savings need a boost? Maximize your RRSP contribution room and your tax deduction.
Will you have enough to retire?
Registered Retirement Savings Plans (RRSPs) can help you build your retirement nest egg and save taxes. But sometimes everyone needs a little help contributing before the deadline.
Contribute more
Deduct more
Repay with your tax refund
Set it up to happen every year
Did you know?
You can establish an RRSP loan credit limit and then, with one phone call, borrow up to that limit for RRSPs every year without re-applying.
Borrow to save taxes
Borrowing to contribute to your RRSP gets more money growing tax-deferred right away. Then, when you file your taxes, you can deduct that bigger RRSP contribution and use any tax refund you get to make your first loan payment.
Features:
- Borrow up to $50,000
- No payments for up to 90 days*
- Terms up to 5 years
- Loan protection insurance available
Flexibility:
- Fixed or variable interest rate
- Weekly or accelerated bi-weekly payments
- Pay loan off early with no penalty
- Set up one re-advanceable loan to borrow every year
Loan calculator
Use the loan calculator to help you estimate your monthly payments with different loan amounts, interest rates, terms and payment frequencies.
Ways to bank with us
The many ways you can access your accounts, documents, statements, and more:
Explore all loans and lines of credit
Personal loan
Borrow a specific amount, all at once, with a schedule to keep repayments on track.
View detailsPersonal line of credit
Access money whenever you need it, and only pay interest on what you borrow.
View detailsHome equity line of credit
Get all the flexibility of a personal line of credit, with a better interest rate.
View details
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Talk to an advisor
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