Becoming a Member
Who should get this loan?
Borrowers who want to contribute to an RRSP to benefit from tax deductions and who will be able to repay the loan soon.1 This type of borrowing to invest can be a wise choice for tax payers who will receive an income tax refund promptly since they can use it to quickly reduce their loan.
| Amount available |
$5,000 or more. |
| Repayment |
- Loan payment frequency is flexible: weekly, bi-weekly or monthly.
- Option to only pay the interest on the loan during RRSP season.
- No prepayment penalties: Pay off your loan whenever you want, in part or in full, without being charged extra fees.
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| Loan term |
Meridian may agree to a longer term depending on the loan's purpose (e.g., contributing your unused RRSP contribution room) and, in some cases, on the collateral provided. |
| Other |
Loan insurance (death and disability) available.
See Loan Insurance.
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1. Borrowing to invest is a leverage opportunity. If the loan amount is invested in investment funds, the risk is even higher. See a Mutual Funds Representative to find out more.
