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RRSP Loans

It Can Make Sense to Borrow for Your RRSP

Maximizing your annual RRSP contribution is one of the best ways to build a secure retirement.

Sometimes it can be tough to come up with the money. Plus, if you missed making your full contribution in a previous year, you could have a lot of catching up to do.

That is why RBC Royal Bank® offers RRSP loans, including a Personal Loan for RRSP contributions. RRSP Personal Loans are available with flexible payment schedule options to make your RRSP loan as worry-free as possible.

Benefits of RRSP Loans

Compound Interest and Tax Deferral can Outweigh the Cost of Borrowing
You need to borrow: $2,500.00
Your marginal tax rate is: 40%
Your RRSP Personal Loan
Interest Rate is:
Your loan term is: 12 months
Your Monthly Loan Payment
(including LoanProtector® premium):
You Would Save:
Tax Rebate/Deduction: $1,000.00
Less total interest over term: $140.00
Your savings: $860.00

That's not all. 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 plan.


Why is the RBC Royal Bank RRSP Personal Loan option right for you?

With an RRSP Personal Loan, you have the benefits of:

  1. Borrowing $5,000 to $50,000*.
  2. A higher credit limit and fixed payment schedule, making a personal loan ideal for catching-up on missed contribution room from previous years.
  3. Terms to suit your needs, amortized over up to 10 years.

Speak to an investment representative to discuss your personal situation.


Start Investing Today!

Apply now or talk to an RBC Royal Bank credit specialist today.


1) Interest rates used for examples are for illustration purposes only. Interest rates are subject to change at any time without notice.

Personal Loan accounts are available to clients who meet RBC Royal Bank standard credit criteria.

This is a general description of Personal Loan; for more information and product details, please see our product brochures or call us at 1-800-463-3863.

* Loan amounts and loan limits are subject to standard loan criteria.