Registered Plan Loans

Deferred Payment Option for RRSP Loans
You may defer payments up to six months with the first payment occurring no later than July 31. This is NOT an interest-free period. The loan term begins on the funding date of the loan, not the first payment date.

Prepayments
Loans can be paid off at any time without penalty - i.e., with no payout fee and no minimum interest charge.

Fees
Effective May 1, 2008

• An administration fee of $45.00 is charged for items such as a change in loan terms after the funding date (e.g. consolidations, extensions, payment preference), late or missed payments, duplicate statements, processing of a manual payment or a deregistration.
• For complete fee details, refer to the “Terms and Conditions” section of the application.