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RSP Loans

Don’t have enough cash to contribute the full amount to your RSP? Consider an RSP loan.

RSP ReadiLine™ Account

Apply once and use funds to top up your RSP anytime—without having to apply again. This line of credit is an easy way to make sure you always contribute your maximum. You can:

  • Borrow $1,000 to $21,000
  • Open a BMO Financial Group RSPs, including those from BMO InvestorLine Inc. or BMO Nesbitt Burns Inc.
  • Use ReadiLine to make RSP contributions year-round
  • Use the tax refund generated by your RSP contributions to pay down your ReadiLine Account faster
  • Purchase optional creditor life and disability insurance

Retro-Activator® RSP Loan

The ideal way to make up for missed RSP contributions in the past. This installment loan (minimum $7,500) lets you top up your RSP and pay down the amount over as long as 15 years. You can:

  • Open a BMO Financial Group RSPs, including those from BMO InvestorLine Inc. or BMO Nesbitt Burns Inc
  • Choose a fixed or variable interest rate
  • Use the tax refund generated by your RSP contributions to pay down your loan faster
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