RRSP Loans & Lines of Credit
You know how important it is to invest in RRSPs but sometimes it's difficult to come up with the money before the deadline date for contributions. Stride Credit Union can help you with an RRSP loan or line of credit. We'll show you how the cost of borrowing can actually be offset by your tax savings at year-end.
We can also help you find a way to fit your RRSP contributions into our current financial plan and show you how RRSPs can give you control over your financial future.
Our Financial Services Officers will work with you to put together an affordable loan at a great rate while explaining all of the tax benefits that come with it.
An RRSP line of credit can help you manage your cash flow and enable you to grow your RRSP faster by investing sooner and allowing you to maximize your contribution.
Other features include:
- Flexibility and convenience with no need to reapply each year
- Line amounts between $1,000 and $25,000
- Interest is the only required payment; however, line should be paid back within the year to allow for annual RRSP contributions
- You can control your own payment schedule