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TD RSP Loan
If you’re planning for retirement, you can borrow to maximize contributions and accelerate your savings.
Why apply for a TD RSP Loan?
RSP Loan Options
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In year contribution
- Great for: maximizing up to your current year RSP contribution
- Borrow up to: your unused RSP contribution limit for this year1
- Term/Amortization: 1 year
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Catch up contribution
- Great for: your outstanding RSP contribution space from previous years2
- Borrow up to: $50,000
- Term/Amortization:
- Fixed rate loan: maximum 5 year term/10 year amortization (maximum 5 year amortization for Quebec loans)
- Variable rate loan: maximum 10 years
Borrowing advice
Get helpful insights and tips on how to borrow wisely, manage your payments and make informed financial decisions.
Application Checklist
To start your application, there are a few things we’ll need from you:
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Government-issued identification
(original and not expired) Examples of valid ID -
Proof of income
- If employed, provide your last two paystubs
- If self-employed, provide your last two Notice of Assessment documents (tax returns)
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Expense statements
Mortgage/rent payments, utility bills, taxes, other credit statements, etc.
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Bank account details form for the deposit of funds and to schedule repayment
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Adding a co-signer?
The same information and documents will also be needed from them
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Notice of Assessment (most recent year)
If you are borrowing to catch up on previous year contribution, this will be required to understand outstanding available limits
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You consent to credit checks
As part of this credit check, we will give your information to credit bureaus and other lenders. They will give reports and information to us, about you, to help assess your eligibility and creditworthiness.
