RSP Loan

Family choosing a bank account

Borrow now so your retirement
savings may grow

With a TD RSP Loan you can maximize your RSP contribution
this year or take advantage of any unused contribution room.


Reduce your taxes

Making a contribution up to your maximum contribution amount may help to reduce the taxes that you are required to pay.


Repayment schedule

We’ll help you create a repayment schedule with a term and amortization period that works for you.


Interest rate options

Choose between a fixed or variable interest rate depending on what’s best for you.


Deferred payment option

You can defer payments for up to 120 days but interest will continue to accrue.


Retirement Savings Calculator

Your retirement target date or desired level of income influences how much you need to set aside.

Try it

Depending on RSP loan type, you can borrow up to $50,000:

  • On-the-Spot RSP Loan you can borrow up to your unused RSP contribution room for that year
  • For a CarryForward RSP Loan you can borrow up to $50,000

RSP Resources

See an example of how using an RSP Loan can give you great returns.

See why using an RSP Loan to make maximum contributions makes sense.

Find out how TD RSPs can help you meet your retirement goals.

Choose one of our RSP Loans

  On-the-Spot RSP Loan CarryForward RSP Loan
Is this for me? If you want a loan to make a contribution for this year. If you want a loan to catch up on contributions from past years.
Maximum Principal Amount Up to your unused RSP contribution room for that year Up to $50,000
  • 1 year term
  • 1 to 5 year terms
Other Details
  • Defer payments for up to 120 days (interest continues to accrue) Must be paid back within the 1-year term
  • Defer payments for up to 120 days(interest continues to accrue)
  • Must be paid back within the 1-10 year term choice

In the case of the unexpected, get flexible protection for your loan obligations.

Ready to apply?

Call us

Our banking specialists will help you with any questions you might have.
1 866 222 3456

Locate a Branch

By Address, Intersection, City, Postal Code OR by Branch Number

Apply online

You can conveniently submit an online application.

On-the-Spot RSP Loan

What you’ll need:

  • Hold a TD Investment account (Daily Interest Savings Account or TD Waterhouse account) or open one while applying for the RSP Loan
  • Social Insurance Number (optional)
  • Current address and previous address (if current address is less than 3 years)
  • Your income (sources and amount)
  • Your monthly mortgage or rent amount
  • Your monthly payments (loans, credit cards, lines of credit)
  • Household costs, (utility, property tax, insurance, etc)

Loans are available with a variety of terms. The term is the length of your current loan agreement. Typically, terms range from 1 to 5 years.
When a term ends, any balance you still owe can be repaid in full, or you may be offered a renewal term at current interest rate.

Amortization period is the length of time it takes to pay your loan in full, assuming the same interest rate and payment amount throughout.
Shortening your amortization period can help you reduce interest cost over the period but it will also increase your payments.

The interest rate stays the same for the time period chosen.

The interest rate changes whenever TD Prime Rate changes.

The maximum amount you can contribute to your RSP or TFSA.