RRSP loans
Loans to help you increase your annual RRSP contribution or cover you if you're temporarily short of cash at RRSP time.
Not contributing one year can have a real impact on your retirement income objectives. Borrowing to contribute to your RRSP might be a better plan. Your tax savings and investment earnings that accumulate on a tax-deferred basis compensate for the real cost of the loan.
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Did you know
To avoid borrowing next year, consider a Regular Instalment RRSP which allows you to contribute throughout the year.
Which loan is best for you?
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Desjardins RRSP loan |
Borrow amounts of over $12,500 at a better rate than a personal loan. Ideal if you plan to repay your loan quickly. To apply or find out more, see the section Desjardins RRSP loan (over $12,500) |
Accord D RRSP financing |
Financing method that compares favourably to RRSP loans and whose interest rate is as good as that on a
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RRSP loan. The ideal solution for your RRSP contribution or if you want to invest the loan amount in a Desjardins investment vehicle. Desjardins makes it possible for you to take advantage of a six-month period to defer payment of the principal on your financing until you get your income tax refund (if you are eligible for such a refund). By applying for Accord D RRSP financing online, you can contribute to your RRSP. To apply or find out more, see the section Accord D RRSP financing section. |
Unused contribution room RRSP loan |
Borrow at an attractive rate and repay your loan over a 10 year period. If you haven't made your maximum allowable contributions each year, the difference has been carried forward since 1991 as unused contribution room, which you can use to contribute at any time. To apply or find out more, see the section unused contribution room RRSP loan |
Multiproject Option |
Allows you to re-borrow money already paid on your mortgage to make RRSP contributions. To apply or find out more, see the section Mortgage loan - Multiproject Option |
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