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Whether you have unused RRSP contribution room from previous years or you need to borrow a lump sum for just this year's contribution, an RRSP loan from RBC Royal Bank® can help you catch up, making sure you don't miss out on the tax savings and investment growth opportunities of an RRSP.

Potential Savings with an RRSP Loan

As shown in the example below, the potential cost savings can outweigh the cost of borrowing to make your RRSP contribution.

Plus, the money you borrow to invest will grow together with the rest of your RRSP investments—sheltered from tax as long as it's in your RRSP.

Amount You Want to Borrow: $2,500.00
Your Marginal Tax Rate: 40%
Loan Interest Rate: 4.75%(1)
Loan Term: 12 months
Your Monthly Loan Payment
(including LoanProtector® premium):

You Would Save

Your Tax Rebate: $1,000.00
Less Total Interest Paid Over Loan Term: $140.00
Your savings(3) $860.00

Charts are for illustrative purposes only.

See what your RRSP savings could be.

Try the RRSP Loan Calculator to see how much an RRSP loan investment applied to this year’s tax return could be worth at your retirement.


Take ActionApply for an RRSP Loan


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