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    Maximize Your Retirement Savings
    Even If You're Short on Cash

    Boost your RRSP contributions instantly with an RRSP Loan from Punjab Insurance. Enjoy bigger tax refunds, grow your retirement nest egg faster, and never miss a contribution deadline-even when funds are tight.

    Woman managing RRSP loan at home

    What Is an RRSP Loan?

    An RRSP Loan lets you borrow money to make or top up your Registered Retirement Savings Plan (RRSP) contributions. This strategy allows you to take advantage of unused contribution room, maximize your tax savings, and accelerate your retirement plan-even if you don't have cash on hand.

    • Borrow to make your RRSP contribution- no income proof or credit check required (limited time)
    • Delay your first payment for up to 120 days
    • Repay your loan at any time- no penalty for early repayment
    • Access a wide range of investment funds
    • Competitive interest rates and flexible payment options

    RRSP Loan

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    Why Take Out an RRSP Loan?

    Maximize your tax refund
    Maximize your tax refund

    Larger RRSP contributions mean bigger tax deductions and refunds

    Catch up on unused RRSP room
    Catch up on unused RRSP room

    Use a loan to make up for missed contributions from previous years

    Grow your retirement savings faster
    Grow your retirement savings faster

    More money invested, more tax-deferred growth

    Use your tax refund
    Use your tax refund to pay down the loan

    Reduce your out-of-pocket cost

    How Does an RRSP Loan Work?

    Apply for an RRSP Loan
    Apply for an RRSP Loan

    Quick approval-often with no income proof or credit check required*

    Deposit funds
    Deposit funds into your RRSP

    Invest in mutual funds, GICs, stocks, or other eligible assets

    Claim deduction
    Claim your deduction

    Receive a larger tax refund at tax time

    Repay loan
    Repay the loan

    Use your refund to pay down or pay off the loan, or follow a flexible payment schedule

    Who Should Consider an RRSP Loan?

    • High-income earners (tax rate 30%+)
    • Anyone with unused RRSP contribution room
    • Individuals wanting to boost savings for a down payment, retirement, or big goals
    • Canadians who want to maximize tax savings before the RRSP deadline

    Key Benefits of an RRSP Loan

    • No income proof or credit check (special offer)
    • Delay first payment for up to 120 days
    • Flexible repayment-pay in full or in part, anytime
    • Access to a wide range of investment options
    • Potential to save thousands in taxes
    • Helps you reach your retirement goals sooner

    Things to Consider

    • Ensure you can repay the loan within a reasonable time (ideally within a year)
    • Consider your current debt load and prioritize high-interest debt first
    • Interest on RRSP loans is not tax-deductible-make sure the investment return outweighs borrowing costs
    • RRSP loans are most beneficial for those in higher tax brackets

    FREQUENTLY ASKED QUESTIONS

    Frequently Asked Questions about
    RRSP Loan

    How much can I borrow for an RRSP loan?
    Typically up to $50,000, depending on your contribution room and lender approval.
    Can I repay the loan early?
    Yes-there are no penalties for early repayment.
    What if I have unused contribution room?
    An RRSP loan is a great way to catch up and maximize your tax savings.
    How do I get started?
    Get a free quote or schedule a call with a licensed Punjab Insurance advisor for personalized help.
    View all Faq's

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    Save more for retirement even when cash is tight with an RRSP Loan. An RRSP Loan from Punjab Insurance helps you maximize your contributions, unlock larger tax refunds, and grow your retirement savings faster-so you stay on track toward long-term financial security without missing key deadlines.
    Disclaimer: Information on this page is for general guidance only and not a substitute for professional advice. Please consult a licensed Punjab Insurance advisor for personalized recommendations.