RRSP Loans
*RRSP loans, with rates as low as prime, provides an opportunity for owners 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 10 years to repay. Any tax refund could be used to pay down loan balance, make next year's contribution early, or just for you to spend -- the choice is yours.
Features:
- Terms from 12 months to 10 years.
- Invest in products available through Morell Credit Union.
- Credit life, disability and critical illness insurance is 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.
Creditor’s group insurance coverage is optional and is underwritten by Co-operators Life Insurance Company. Supporting services, such as enrollment intake, medical underwriting and claims administration are provided by the employees of CUMIS Services Incorporated. Coverage is governed by the terms and conditions of the creditor’s group insurance policy issued to the creditor and is subject to terms, conditions, exclusions and eligibility requirements. See the Product Guide and Certificate of Insurance for full coverage details.
