RRSP Loan

RRSP Loan

Choice of rates, terms and payment frequency

Ideal for borrowers who want to contribute to registered retirement savings plan (RRSP) to benefit from tax deductions and who will be able to repay the loan soon1.

Get this product - RRSP Loan

Key features

  • Interest rate Rate lower than that of a personal loan.
  • Fixed rate Between 6.05% and 7.45%, depending on term selected2.
  • Flexible payment options Choose the type and frequency of your payments.
  • Deferred payment3 Defer your payment for up to 6 months during the RRSP period.

Annual interest rate

In effect on June 14, 2025

  • Repayment period: 1 year
    6.05%
  • Repayment period: 3 years
    6.25%

See all rates - RRSP loans

    Features

    Interest rate

    • Fixed rate

    Amount available

    No maximum amount

    Repayment

    • Payment schedule: Weekly, every 2 weeks, or monthly.
    • Defer your payment for up to 6 months during the RRSP period.
    • Prepayment possible at any time, in part or in full, without being charged extra fees.

    Loan term

    • Up to 10 years, depending on the amount.

    Other

    Loan insurance (death and disability) available. See Loan Insurance.

    Documents to bring to your meeting with an advisor

    • Proof of income (pay stub, etc.)
    • Investment statements
    • Other loan statements (including consolidated loans)
    • Tax bills or leases
    • Last Federal Notice of Assessment

Good to know!

  • When you borrow to contribute to your Desjardins1 you can:
    • maximise your unused RRSP contribution room
    • contribute even when you don't have available cash
    • maximize your annual contribution
  • Your RRSP investments grow in a tax shelter.
  • It's a good idea to use your tax refund to pay back your financing.

Further reading

Registered retirement savings plan (RRSP)

Learn more about this profitable plan that allows you to save money tax-free for your retirement and long-term goals.

Learn more about RRSPsLearn more about Registered retirement savings plan

Is an RRSP loan right for you?

There are a number of reasons to invest in an RRSP, but the money isn't always there. Should you borrow to make it happen? It all depends on your situation and other considerations.

Read the articleIs an RRSP loan right for you?

  1. Borrowing to invest is leveraging. The risk associated with using borrowed money to buy securities is higher than when using your own cash. If you borrow to buy securities, you're required to pay back what you've borrowed plus the interest stipulated in the terms of the loan even if the securities you bought drop in value. Talk to your mutual fund representative for more information about leveraging.
  2. In Ontario, the annual percentage rate (APR) is equal to the posted interest rate, assuming that there are no additional charges applicable to the loan. Should there be such charges, the APR might be different.
  3. The term offered is for a maximum of 6 months. You will have to repay your loan no later than the date set out in your loan contract through a single payment that will reimburse all the principal borrowed and interest due.