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RRSP Loan
An RRSP loan is an excellent tool that allows you to continue making and even increase your RRSP contributions at a very competitive interest rate.
Don't let a temporary lack of liquidity obscure your retirement goals... continue to move ahead with an Industrial Alliance Pacific RRSP loan.
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Why take out an RRSP loan? |
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You maximize your retirement savings immediately. |
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You receive a higher tax refund.
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You reach your savings objectives more quickly.
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You increase your retirement income.
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You take advantage of your unused contributions.
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You move forward despite a temporary lack of liquidity.
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The advantages of your Industrial Alliance Pacific RRSP loan |
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Choose from a wide range of investment funds. |
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Select the repayment period that works best for you: 12, 24, 36* or 48 * months.
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Wait for your tax refund and defer your first payment with the 120-day option.
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Receive excellent variable interest rates.
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Easily increase the amount of your loan.
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Benefit from the flexibility of paying off your loan in part or in full at any time.
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Plan your budget easily with different payment frequencies available.
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* These terms are available based on certain conditions.
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How does an RRSP loan maximize your retirement capital? |
By using your tax refund to pay off part of your loan, you increase your RRSP contributions while keeping the same monthly payments.
The example below illustrates how you could considerably increase your RRSP contribution with the same monthly payments.
See how your loan can help you achieve your financial goals!!!!
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Current rate applicable on a loan of less than $5,000. Amortization period of 12 months.
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Current rate applicable on a loan of $5,000 or more. Amortization period of 12 months.
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Based on a marginal tax rate of 48% that can vary according to your financial situation.
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Based on an annualized return of 6%.
* The interest rate is subject to change without notice. The repayment period may vary based on changes in the Royal Bank of Canada's prime lending rate. Payments will remain fixed for better budget planning. |
Get on the right track for meeting your retirement goals! Contact your financial advisor for more details.
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To find out more |
RRSP loan brochure |
