RRSP Loans

RRSP loans, with rates as low as prime, provide an opportunity for members 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. Any tax refund could be used to pay down your loan balance, make next year's contribution early, or just for you to spend -- the choice is yours.

Features:

  • Amortization from 12 months to 15 years.
  • Invest in Mutual Funds.**
  • Invest in products available through Progressive Credit Union Limited  
  • Credit life, disability and critical illness insurances 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 are offered through Dave Gorman Financial Stratigies of Worldsource Financial Management Inc., sponsoring mutual dealer.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated,cash balance, 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. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. 

Worldsource Financial Management Inc. is responsible only for mutual fund-related business activities conducted by its Registrant,and is not responsible for any other business interests and activities undertaken by its Registrant, and is not responsible for any other business interests or activities undertaken by its Registrant or by Progressive Credit Union.  Worldsource Financial Management Inc. will not be held liable for any software damages resulting from use of this website.

 

 

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