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RRSP Loan Calculator

Calculate if an RRSP loan makes sense for your situation. Compare tax benefits vs interest costs, see the gross-up strategy, and get personalized recommendations.

Your Information

Deadline: RRSP contribution deadline for the 2025 tax year is March 2, 2026.

Province / Territory

Annual taxable income ($)

Employment income before deductions

RRSP contribution room ($)

From your CRA Notice of Assessment

Amount already saved ($)

Cash available to contribute now

Potential loan amount ($)

Between $1,000 and $50,000

Loan interest rate (%)

Typical range: 5.5% – 6.5%

Repayment period (months)

Recommended: 12 months or less

Expected annual return (%)

Conservative: 4–6%, Moderate: 6–8%

High-interest debt balance ($)

Credit cards, payday loans (>15%)

Monthly debt payments ($)

Total monthly obligations

Results update automatically as you change values.

Enter your province, income, and loan amount (at least $1,000). Results will update automatically as you change values.

Important Disclaimer

These calculations are estimates for educational purposes only and do not constitute financial or tax advice. RRSP loan interest rates, terms, and tax rates are subject to change. Your actual marginal tax rate may differ based on other deductions and credits. Always verify current RRSP loan rates with financial institutions, consult your CRA Notice of Assessment for contribution room, and speak with a licensed financial advisor before borrowing. We are not liable for any decisions made based on this calculator.This tool is for educational purposes only and does not constitute financial, tax, or legal advice. Consult a qualified professional before making financial decisions.

Related Resources

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How-To Guide

Step-by-step instructions for this tool

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