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What is the range of interest rates for an RRSP Catch Up Loan?
February 22, 2024
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althisa
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February 23, 2024
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cgouimet
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I don't know. Borrowing for an RSP is not something I'd do.
Instead, I would make regular contributions to a HISA or short GIC's then late in the next tax season, move that accumulation to your RSP. I would then add my tax refund to my continuing HISA contributions for next year's contributions ...
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February 23, 2024
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Norman1
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6.99% is Tangerine's Prime (7.2%) minus 0.21%. That's comparable to other banks.
RBC Royal Bank is offering RRSP loans at Prime (7.2%) plus 0%. Same from CIBC.
February 23, 2024
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althisa
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Norman1 said
6.99% is Tangerine's Prime (7.2%) minus 0.21%. That's comparable to other banks.RBC Royal Bank is offering RRSP loans at Prime (7.2%) plus 0%. Same from CIBC.
Thank you. Thats what I found doing initial research as well.
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