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