An RRSP loan is a great option. The magic in an RRSP loan lies in the fact that you get tax benefits from your RRSP contributions – tax benefits that can translate into a tax refund. Use your refund to pay down your RRSP loan and you’ll be well on your way to paying off your loan.
It’s tough to save the money for a big, lump sum RRSP contribution. You can get the jump on next year’s RRSP contributions by setting up pre-authorized contributions from your Affinity account. Call our Contact Centre at 1.866.863.6237 to learn more.