Borrowing money to invest in an RRSP has many advantages. Besides the immediate tax refund, you also can:
- Increase the amount you have to invest
- Take advantage of tax-sheltered compounding
- Boost your investment returns
- Achieve your long-term financial goals more quickly
- Build a larger and more diversified retirement portfolio
An RRSP Loan1 may be suitable if you:
- Want to make a contribution now but don’t have the funds available
- Want to take advantage of your unused RRSP contribution room
- Are now in a higher marginal tax bracket than last year
RRSP Loans come with the following features:
- Low interest rate
- Flexible repayment option (up to 10 years)
- Deferred payments (up to 90 days)
- No early repayment penalty
Contact our office for assistance in selecting the RRSP Loan best suited to your needs.
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