RRSP Loans

At Prairie Centre, we're here to help grow your money.  An RRSP loan can help you take advantage of tax benefits while saving for your retirement.  If you like structured payments to keep within your monthly budget or have unused RRSP contribution room you want to use up, an RRSP loan can help you achieve your retirement goals. 

  • The standard RRSP loan term is 1 year but can be up to 5 years, allowing for comfortable repayment of the loan.
  • Longer term RRSP loans may be available for catching up unused contribution room, which allows you to maximize RRSP contributions and defer more taxes.
  • RRSP loans are offered at very low rates so that's even more reason to save on taxes and accumulate funds for retirement.
  • Floating rate of interest at prime rate plus .25% for loans repayable within one year.
  • Prime + 1.25% for loans repayable over longer terms.
  • No application fee but direct costs do apply (credit bureau search fees)

 

 

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