RRSP Loans and Lines of Credit1

  • Are you short on the cash needed for an RRSP contribution?
  • Are you looking to maximize your income tax return?
  • Are you looking to take full advantage of your unused RRSP contribution room?

If you answered yes to any of these questions, this type of financing could be just what you need. At National Bank, we have RRSP financing solutions adapted to YOUR needs.

RRSP lines of credit are beneficial because they allow you to use your available credit to contribute to your RRSP. RRSP loans can be an excellent choice if you prefer to make structured payments.

Credit application

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Contact us today and a National Bank advisor can tell you about our special offers currently in effect.

  RRSP loan RRSP line of credit

Possible uses

These solutions can be used to:

Minimum amount or minimum credit limit1




From 3 months to 10 years

You no longer have to submit an RRSP financing application every year.


Fixed or variable rate

Prime rate2 + 1.50%

Equal to 4.95% (3.45% +1.50%) on January 18, 20183. Management fee of $1 per month.

Repayment conditions

  • Loan repaid through automatic instalments.
  • First payment can be postponed for 3 or 6 months1. Interest will continue to accrue during this period.
  • Additional payments can be made or the entire loan can be paid off with no penalty.
  • You decide when to pay. Only the interest is due every month.

In both cases, you could eventually pay off a portion of your outstanding balance using your income tax refund. Ask your advisor!

Eligible RRSP investments

Many investment solutions offered by National Bank and its subsidiaries are RRSP-eligible.

Additional services

  • Personal loan insurance4
  • Personal loan insurance4
  • Systematic Investment Plan

1 Subject to credit approval by National Bank.

2 The Prime rate is the annual variable interest rate published by National Bank from time to time and used by National Bank to determine the interest rates on demand loans in Canadian dollars granted by it in Canada.

3 Statements of account are issued monthly. Lines of credit start to accrue interest as soon as they are used. Examples of credit fees calculated for a 30-day period based on rates in effect on January 18, 2018.

Average Balance                               
Annual Interest Rate (without annual fees) $500 $3,000
Prime rate + 1.50% (4.95%) $2.03 $12.20

4 Subject to the terms and conditions specified in the insurance certificate.

Maximize your annual contribution