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.

RRSP loan calculator

Determine your borrowing ability for RRSP contributions and maximize your tax return.

Calculate your payments

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 advantages of taking out an RRSP loan with us

  • A wide choice of 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

Interest rates

The rates shown are fixed in accordance with the Royal Bank of Canada’s prime rate (PR), which is currently at 3.95%.

I am already a client

RRSP loan rates

Repayment term Under $5,000 $5,000+
1 year PR + 2.25% PR + 0.75%
2 years PR + 2.25% PR + 1.25%
3 to 5 years N/A PR + 2.25%
6 to 10 years N/A PR + 3.00%*
*Available for loans of $12,500 or more