RRSP
Max-It® Loan
A second chance to take your RRSP contributions to the max.
Know your options
Our team of advisors can help you do the math and figure out if it's a good idea to borrow to max out your RRSP contribution room.
Maximize your RRSP
Catch up on your unused RRSP contributions. Borrow up to $75,0001 at either a fixed or variable interest rate to apply to your RRSP.
Repay on your terms
Making sure you can repay the loan and interest is key in ensuring a positive return on investment. Our flexible terms will help you do that with repayment terms from 1 year to a maximum of 5 years.
Key product details
| Interest rate | Fixed or variable, based on ATB's prime rate, ranging from 7.20%-14.20%1 |
| Repayment term | 1-5 years |
| Maximum amortization | 10 years |
| Maximum loan | $75,0002 |
| Repayment frequency | Flexible |
| Early repayment | In full at any time, no penalty |
As an example, a $20,000 loan with an interest rate of 7.20% for a 5 year term has monthly payments of $397.91 with total interest paid $3,874.83 and for a total of $23,874.83.
Frequently Asked Questions
Yes. You can have multiple loans, but the total amount of money you borrow through the RRSP Max-It Loan program cannot exceed the $75,0001 maximum, even if that amount is spread out over several loans.
Yes. You can repay the loan in full at any time without penalty, or simply save on interest by making payments more frequently.
It depends. One of our specialists can help you determine if your return on investment will outweigh the interest you will pay.
RRSPs are not the only account you can use for retirement planning. Investing early and often is key, and our advisors can help you determine if borrowing to top up your RRSP is best, or if just starting to contribute regularly to an RRSP or TFSA will help you reach your goals faster.
Ready to get started?
Let us help you figure out if it's a smart move to maximize your RRSP contributions with the RRSP Max-It Loan.
Find the loan that's right for you.
The interest rate for a loan can vary based on many factors including the type and size of loan and your credit history. The Annual Percentage Rate is the same as the interest rate.
Based on approved credit.
Related documents: Loan Agreement Terms and Conditions (PDF)