Exploring ways to boost your retirement savings while minimizing your tax bill? The TD On-the-Spot RSP Loan could be your ideal solution.
This specialized loan enables you to fully utilize your annual RSP contribution limit, helping you save on taxes while accumulating greater retirement funds.
About TD
TD Bank stands as a robust pillar in financial solutions, providing a vast array of products ranging from everyday banking to significant financial investments like RSP loans.
With years of expertise and a commitment to customer satisfaction, TD empowers its clients to achieve their financial dreams through innovative banking services.
Main characteristics of TD On-the-Spot RSP Loan
- Borrow up to your unused RSP contribution limit.
- Option to choose between fixed or variable interest rates.
- Flexible repayment terms over an amortization period of 1 year.
- Availability of deferred payment options, although interest will accrue.
- Simplified application process via online banking or in-person consultations.
Disadvantages
- Interest Accrual: If you choose the deferred payment option, interest will continue to accrue, increasing the total amount payable.
- Debt Impact: Taking on an RSP loan will increase your debt service ratio, potentially affecting your ability to secure additional loans.
Here is advice for you
By leveraging such financial products, you can significantly enhance your retirement portfolio and reduce your tax liabilities simultaneously.
The TD On-the-Spot RSP Loan is designed to bridge the gap between your current savings and your retirement goals, making it a powerful tool in your financial arsenal.
Requirements to apply for this loan
- Must be a TD bank account holder.
- Meet the minimum credit score requirements.
- Have a consistent income source to ensure repayment capability.
How to apply for the loan
- Book an Appointment: Schedule a meeting with a TD banking specialist at your nearest branch for a personal consultation.
- Call Directly: Reach out to TD’s banking specialists at 1-866-222-3456 for guidance and to initiate your loan application process.
Apply for your Loan
Ready to ramp up your retirement savings? The TD On-the-Spot RSP Loan offers a straightforward way to maximize your contributions this year. Click below to learn more and take the crucial step towards a financially secure retirement!