Financial Tools
RRSP Loan Calculator
Determine if borrowing to contribute to your RRSP makes financial sense. Compare your tax refund against the cost of the loan.
$
$
Tax Refund
$3,050
30.5% marginal rate
Loan Cost (Interest)
$273
$856/mo for 1 year
Net Benefit
$2,777
Loan makes financial sense
RRSP Growth (25yr)
$33,864
from $10,000 at 5%
Tax Refund vs. Loan Cost
Tax Refund$3,050
Loan Interest Cost$273
Tax Refund
Loan Interest
Tax Savings Breakdown
Federal Tax Saved
$2,050
Marginal rate: 20.5%
Provincial Tax Saved
$1,000
Marginal rate: 10.0%
This calculator is for illustrative purposes only and does not constitute financial advice. Tax brackets are based on 2026 rates and may change. Actual investment returns will vary. Loan interest rates and terms will depend on your lender and creditworthiness. The RRSP contribution must be within your available contribution room. Please consult with a qualified financial advisor before making borrowing or investment decisions.