RRSP Loans

*RRSP loans provide an opportunity for owners to maximize their RRSP contribution and to take advantage of maximum tax benefits today while providing for their future retirement.

Take advantage of unused carry forward amounts or maximize your yearly contributions by borrowing and taking up to 15 years to repay. A tax refund could be used to pay down loan balances, make next years' contribution early, or just for you to spend - the choice is yours.


  • Terms from 12 months to 15 years.
  • 3 year renewal for fixed rate loans.
  • Invest in Mutual Funds.**
  • Invest in products available through Newfoundland and Labrador Credit Union  
  • Credit life insurance and disability 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.

*Mutual funds and financial planning are offered through Credential Asset Management Inc. Commissions, training commissions, management fees, and expenses all may be associated with mutual fund investments and the use of an asset allocation service.  Please read the prospectus of the mutual funds in which investment may be made under the asset allocation service before investing. Unless otherwise stated, cash balances, mutual funds and other securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Credential Asset Management Inc. is a subsidiary of Aviso Wealth Inc. and is used under license.

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