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Maximize your tax-deductible contribution with an RRSP loan.

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.
Use an RRSP loan to contribute more this year.
Contribute more
Use an RRSP loan to increase contributions every year.
Deduct more
Repay with your tax refund - Icon
Repay with your tax refund
Set it up to happen every year - Icon
Set it up to happen every year
RRSP loan
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.

  • Borrow up to $50,000
  • No payments for up to 90 days*
  • Terms up to 5 years
  • Loan protection insurance available
  • 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 details

Personal line of credit

Access money whenever you need it, and only pay interest on what you borrow.

View details

Home equity line of credit

Get all the flexibility of a personal line of credit, with a better interest rate.

View details
Our members have access to free financial advice.

We're here to help

Talk to an advisor

Our knowledgeable advisors can guide you through life’s big and small financial decisions — and their services are completely free of charge for our members.

How to reach us

Call our Member Service Centre

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1 888 440 4480

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8 am - 8 pm

Saturday 9 am - 5 pm

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