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Empire Life and B2B Trust (Laurentian Bank) loan program is quick,
simple and offers a competitive credit facility that is an
alternative to the banks. The RRSP loan proceeds can be invested
in any RRSP eligible investments.
You can choose to defer payments up to three months with
the first payment no later than June 20 of the calendar year
in which the loan is approved. Interest accrues from the
date the loan is funded.
Eligible RRSPs
- RRSPs administered by B2B Trust (Laurentian Bank).
- Applicable for self-directed, individual, spousal and
group plans.
Qualified Applicants
- Borrowers must have a positive net worth, responsible
credit history and a total debt servicing ratio of no more
than 40%.
- Clients who have been bankrupt within the past five years
will only be considered on an exception basis.
- Borrowers must have reached the age of majority in the
province or territory in which the contract is signed.
2006-07
RRSP Loan |
Early Bird
RRSP Loan |
Traditional
RRSP Loan |
Top-Up RRSP
Starter Loan |
Top-Up
RRSP Loan |
| Availability |
To Jan 31/07 |
Ongoing |
Ongoing |
Ongoing |
| Minimum |
$2,500 |
$2,500 |
$5,000 |
$10,000 |
| Maximum |
$16,500 |
$16,500 |
$9,999 |
$50,000 |
| Variable rate |
Prime |
1 yr=Prime
2 yr=Prime + 1% |
Prime + 1% |
1-5 yr=Prime +0.75%
6-10 yr=Prime +2% |
| Fixed rate |
N/A |
1 yr = 5.5%
2 yr = 6.5% |
N/A |
N/A |
| Amortization |
1- 2 years |
1 - 2 years |
3 - 5 years |
1 - 10 years |
Loan Calculator-Prime Rate 6%
Enter only numeric values (no commas). Non-numeric values
will cause errors.
Call Bob Lemieux now ! Toll Free: 1-800-661-9156
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