It is never too early to start planning your savings. It pays to borrow to save for retirement. By making a large RRSP contribution with borrowed funds you will save taxes now and create a large retirement fund for your future.

First Nations Bank offers both On the Spot RSP Loans or Carry Forward RSP Loans. On the Spot RSP Loans allow you to borrow up to the maximum annual RSP contribution limit. The proceeds of the loan are required to be invested in an eligible FNBC investment. The maximum repayment term is 1 year.

Carry Forward RSP Loans can be amortized up to 10 years for repaymant. Proceeds of the loan are required to be invested in an eligible FNBC investment. This product allows you to defer your first payment up to 120 days.