RRSP Loans

An RRSP loan may make sense for you if you've got a lot of unused contribution room to catch up on or if you'd like to take advantage of today's low borrowing rates to reduce your taxable income.

Some people utilize RRSP loans if they're counting on a bonus to contribute to their RRSPs but do not expect to receive the money until after the tax deadline.

Others find they just need an extra bump in their RRSP contribution to take them to a lower marginal tax rate and further increase their tax refund.

Whatever your reason may be, Spark The Energy Credit Union offers RRSP loans at rates as low as prime with deferred payment options if you'd like to pay your loan with your tax refund.