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

Line of Credit RRSP

Maximum Loan amount:The amount recorded on the previous year’s Notice of Assessment to a maximum of $50,000 per eligible borrower

Repayment Arrangement:  Repayment of 2 1/2% principal plus interest on the outstanding monthly balance.

Interest Rate: Floating variable rate of PRIME + 1.0%

Maximum amortization: Amortization is based on repayment of 2 1/2% principal plus interest on the outstanding monthly balance

Life Insurance is Mandatory