RRSP Loans

Get the loan that practically pays for itself!


You know that investing in RRSPs is important to your financial future and we know that sometimes it can be a struggle to come up with the money before the deadline for contributions.  New Ross Credit Union can help ensure that you take advantage of taxable benefits today, while building a secure retirement future, with an RRSP loan.  By contributing to an RRSP you can benefit from substantial tax savings at year-end.  These tax savings can actually offset the cost of borrowing!

RRSP loans, with rates as low as prime, provide an opportunity for you to maximize your RRSP contribution and take advantage of unused carry-forward amounts by borrowing and taking up to 10 years to repay. Any tax refund could be used to pay down loan balance, make next year's contribution early, or just for you to spend . . . the choice is yours.

Features and Benefits:

  • Terms from 12 months to 10 years
  • Loan rates as low as prime - fixed or variable
  • Traditional investment options available 
  • Credit life & disability and critical illness insurance available
  • Minimum payments apply


  • Loan is due in full if transfer or redemption of RRSP is requested
  • Fixed deposits remain for the duration of the term following repayment of the loan
  • All lending is subject to credit approval within normal credit guidelines

Apply now using our online application