The RRSP Take 10 Loan is your “catch up” loan with terms up to 10 years, it allows you to borrow more to catch up to your contribution limit. This is for you if you have a large contribution limit from years past.
The RRSP Quick Loan revolved on a continuing basis allowing you to apply once and use year after year. After initial loan approval funds can be advanced without coming into the branch. This is for you if you invest in your RRSP each year.
The RRSP Demand Loan offers you the option to borrow an amount for one year only. This is for you if you need to borrow for the current year’s contribution limit only.
Note: The RRSP deposit must remain on deposit with Radius Credit Union to receive full benefits of the RRSP Loan Program. If the RRSP is transferred or withdrawn the loan immediately becomes due and payable in full
Contact Radius Credit Union for a RRSP loan that works for you.