RRSP Loans
If a cash-flow problem is keeping you from contributing to your registered retirement savings plan, think about taking out an RRSP loan. With interest rates at record lows, a loan to maximize or top-up your RRSP contribution can make a lot of sense. You can get your loan quickly and directly through us. The RRSP loan proceeds can be invested in any RRSP eligible investment.
Consider these Additional Benefits
1. Help achieve your retirement goals faster
With an RSP loan you can invest a greater amount upfront and your investments will have more opportunity to benefit from compound returns.
2. Maximize your unused RRSP contribution room
Catch up on unused RRSP contribution room to help ensure sufficient savings at retirement
3. Make a larger tax-deductible contribution
An RSP loan can help you make a larger contribution to your RRSP
4. Save now. Pay later
We can offer you deferral payment options of up to 180 days plus flexible payment terms of 1 to 10 years
Important Information
Investment loans are offered through B2B Bank, a subsidiary of Laurentian Bank. Visit the B2B Bank website for more details about this service.
Apply for an RRSP Loan
An RRSP loan from GP Wealth Management can help you make a bigger RRSP contribution and accelerate your retirement savings.
Related information
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RRSP Loan FAQ
Frequently Asked Questions About RRSP Loans
In this FAQ, we answer the most common questions asked about RRSP loans. If you have any specific questions, send us an email and we would be pleased to help.
What payment options are available?
Flexible payment options are available. You can choose from weekly to monthly payment dates. The chart below outlines all of your payment date options:
Payment Frequency Payment Date Weekly Monday - Friday Bi-weekly Friday Semi-monthly 1st and 16th Monthly Your choice of any date
Can I repay my RRSP loan without penalty?
Yes, RRSP loans can be paid off at any time without penalty – no payout fee and no minimum interest charge.
Can I transfer-in my existing RRSP loans into one?
Yes, you can combine your existing RRSP loans held in the same plan with the same borrower/co-borrower combination.
Can I extend my existing RRSP loan?
Yes, you can extend your existing RRSP loans to a maximum of ten years from the original funding date.
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Why Defer My Payment Option?
Why Defer My Payment Option?
Many investors use this option of deferring the start date to allow enough time to receive a tax refund to repay the RRSP loan.
You can choose to defer payments up to six months with the first payment occurring no later than July 31, but you should know that this is NOT an interest-free period.
The loan term begins on the funding date of the loan and not the first payment date.
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Now You Can Transfer-in Your RRSP Loan
Now You Can Transfer-in Your RRSP Loan
Consolidate your assets at GP Wealth Management into one RRSP by transferring in the RRSP loan and assets. We’ll arrange to repay your existing RRSP loan held by any other lender and arrange to lend you additional funds.
By consolidating all of your registered accounts with GP Wealth Management, we will provide you with one statement, saving you time and money tracking your investment. In addition, with online access, your accounts are available 24-7.
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RRSP Loan Rates
RRSP Loan Rates
Calculate the benefit of borrowing for an RRSP contribution. With the immediate tax deduction and the tax-free growth, you can determine the right amount to borrow to help achieve your retirement goal. Then you can decide on the type of retirement products that are best for you.
Important Notice
Investment loans are offered through B2B Bank, a subsidiary of Laurentian Bank. Visit the B2B Bank website for more details about this service.
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Open an RRSP Account
Open an RRSP Account
When you open an RRSP Account with GP Wealth Management, you receive up to $125 towards transfer costs.
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