RRSP Line of Credit

Making an annual RRSP contribution is as easy as transferring the funds from a pre-arranged line-of-credit. It’s a convenient option for people who make annual contributions by borrowing, or who want to maximize this year's contribution or take advantage of unused carry-forward amounts.


  • Apply only once
  • Rates as low as prime
  • Lump sum repayment available
  • A simple phone call authorizes transfer
  • Make extra payments anytime, without penalty
  • Payment only 2.5% of outstanding loan balance


  • Limits available to $30,000
  • Available to purchase Reddy Kilowatt Credit Union RRSP products
  • Available to purchase Mutual Funds**
  • Monthy premium Life and disability insurance available.


**Mutual funds are offered through Credential Asset Management Inc. Using borrowed money to finance the purchase of securities involves greater risk than purchasing using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.


*All lending is subject to credit approval within normal credit guidelines.

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