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RRSP Loan Calculator

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Maximize your annual RRSP contribution – or take advantage of unused RRSP contribution room – with an RRSP loan from RBC Royal Bank®. Use your tax rebate to pay your loan off faster and watch your RRSP investment grow – sheltered from tax so long as it’s in your plan.

Use this calculator to see how much an RRSP loan investment applied to this year’s tax return could be worth at your retirement.

 

* Required Information

Loan Information

* Expand — How much would you like to borrow?
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$
* Is this a top-up loan? Expand — Is this a top-up loan?
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Is this a top-up loan?
* Expand — Loan Repayment Period
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Loan repayment period
* Expand — Payment Frequency
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Payment Frequency
* Expand — Interest rate
(View current rates View current rates (opens new window))
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%
* Did you want to defer the start of your loan repayment by up to 90 days? Expand — Did you want to defer the start of your loan repayment by up to 90 days?
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Did you want to defer the start of your loan repayment by up to 90 days?

Tax Information

* Expand — Your marginal tax rate
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* Expand — Percentage of tax refund to apply to the loan balance
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RRSP Information

* Expand — Estimated annual RRSP rate of return
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* Expand — Number of years until retirement
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Years
Cancel

This calculator assumes a constant interest rate and rate of return.

Personal lending products are offered by Royal Bank of Canada and are subject to credit approval.

The calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. Actual results may vary, perhaps to a large degree.

Royal Bank of Canada uses reasonable efforts to include accurate and up-to-date information in this calculator, but cannot guarantee that all information is accurate or complete or current at all times. You should speak with one of our credit specialists or RBC advisors before making a final decision on a RRSP Loan to ensure it meets your overall financial needs.

Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results.

 

Take Action

Call 1-855-834-1782 to talk to a Credit Specialist
Talk to an RBC advisor about your investment options
Visit your local branch