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RRSP loans

Make the most of your RRSP.

Borrow

No minimum

Best part

Save on taxes and get lower rates

Get started

TAX SEASON OFFERS

Get a bonus of up to $7,000 or a rate of 4.55%. Terms and conditions apply.
Learn more

Use an RRSP loan to make part or all of your annual RRSP contribution or catch up on unused RRSP contributions from previous years.

Reasons to borrow for your RRSP.

Reach your investment goals

Benefit from tax-deferred growth within your RRSP and a potential tax refund that you can further invest by maximizing your contribution.

Save on taxes

Use RRSP contributions to lower your taxable income this year. With great rates, you may pay a little in interest to save a lot on taxes.

Calculate loan interest

Save on interest

Borrow from Vancity Prime¹+0%² to Vancity Prime¹+1.0%², when you use your RRSP loan to invest with us.

Vancity Prime Rate: 6.70%¹
As at 2023-01-26

RRSP loan options.

RRSP Re-Advanceable

RRSP Top-Up

Is this for me?

I want to fund RRSP contributions every year without having to re-apply for an RRSP loan.

I want a one-time top-up loan to catch up on unused RSP contributions from previous years.

Loan length

12 months

Up to 120 months

Minimum

None

$5,000 for terms up to 84 months;
$15,000 for terms from 85 to 120 months

Maximum

Up to your annual contribution limit for this year

Up to your total unused contributions from previous years³

Rate

From Vancity Prime¹+0%²

From Vancity
Prime¹+1%²

Payments

First payment may be deferred up to 90 days after advance.

You can use your tax refund as first payment.

Loan is repayable at any time without penalty.

First payment may be deferred up to 90 days after the advance.

Loan is repayable at any time without penalty.

Insurance available

Apply for an RRSP loan

Make it happen.

Let’s walk through the process of applying for an RRSP loan.

Talk to us.

Chat with an Account Manager or Lending Specialist. We'll answer your questions and help you move forward with confidence.

Or, meet with an investment professional about more ways to manage your RRSP.

Hear your options.

We’ll look at different ways to reach your goal and help you on your path forward. We may even uncover something more favourable than what you came in for.

Provide application documents.

Once the Account Manager or Lending Specialist finds the right solution for you, they’ll put together the application and handle the rest for you.

See document checklist

Sign for your loan.

If you’re an existing member, you can sign virtually. If you’re new, we’ll set up a time for you to visit a branch. If you got a RRSP Re-Advanceable loan last year, you won’t have to sign at all.

Book a call