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 soon[ 1 ] note.
Key features
- Interest rate Rate lower than that of a personal loan.
- Fixed rate Between 6.05% and 7.45%, depending on term selected[ 2 ] note.
- Flexible payment options Choose the type and frequency of your payments.
- Deferred payment[ 3 ] note Defer your payment for up to 6 months during the RRSP period.
Annual interest rate
In effect on April 15, 2025
-
Repayment period: 1 year6.05%
-
Repayment period: 3 years6.25%
- Fixed rate
- 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.
- Up to 10 years, depending on the amount.
- Proof of income (pay stub, etc.)
- Investment statements
- Other loan statements (including consolidated loans)
- Tax bills or leases
- Last Federal Notice of Assessment
Features
Interest rate
Amount available
No maximum amount
Repayment
Loan term
Other
Loan insurance (death and disability) available. See Loan Insurance.
Documents to bring to your meeting with an advisor
Good to know!
- When you borrow to contribute to your Desjardins[ 1 ] note 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.