RRSP Loans

Rapid RRSP

  • Maximum Loan amount: The amount recorded on the previous year’s Notice of Assessment to a maximum of $25,000 per eligible borrower
  • Interest Rate: Floating variable rate of PRIME +1%
  • Maximum amortization: 1 year
  • Life Insurance is Mandatory

Top Up RRSP

  • Maximum Loan Amount: The amount recorded on the previous year’s Notice of Assessment to a maximum of $25,000 per eligible borrower.
  • Repayment arrangement: Amortization available for up to 10 years with a minimum monthly payment of $100.00
  • Interest Rate: Fixed rate of interest up to a maximum of 5 years.
  • Life Insurance is Mandatory
 

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