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Does it pay to borrow in order to contribute?

April 26, 2017borrow contribute pay

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Does it pay to borrow in order to contribute?

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While the interest on RRSP loans is not tax deductible, borrowing to make an RRSP contribution may still be worth your while. The following important factors should be considered when making your decision: the term of the loan, the interest rate and your ability to repay the loan.