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Maximize your RRSP with a goPeer Loan.
Contribute more to your RRSP without waiting. Take advantage of available RRSP room, reduce taxable income, and start investing sooner.
Limited-Time Wealthica Exclusive Offer!
Receive a $50 eGift card for RRSP loan applications received by February 28, 2026, which meet the following requirements:*
- Apply through the link below
- Get approved and accept your offer
- Receive your eGift card within 120 days of your loan being funded
How it Works
What is an RRSP Loan?
An RRSP loan is a short-term loan designed to help you contribute to your Registered Retirement Savings Plan when you don’t have enough cash available upfront.
By contributing earlier, an RRSP loan may help you maximize your tax deduction for the year and start investing sooner, giving your savings more time to grow through compounding.
Instead of delaying your contribution or missing the RRSP deadline, an RRSP loan helps bridge the gap between today’s cash flow and your long-term retirement goals.
Built to help you contribute more
Borrow up to $35,000.
A Smarter Way to Contribute.
When managed responsibly, an RRSP loan can help you avoid missing contribution room and give your investments more time to grow.
Easy Online Application.
Apply online in minutes. Once approved and funded, funds are sent directly to your bank and can be used immediately toward your RRSP contribution. No branch visits, no complicated paperwork.
Flexible Financing.
Make regular payments or repay early. There are no penalties for paying off your loan sooner, giving you full control.
Make the most of RRSP season.
Contribute now and pay over time with a goPeer RRSP loan.
Borrowing FAQs
Will applying for a loan impact my credit score?
Applying for pre-qualification at goPeer will not impact your credit score. Pre-qualification is a soft credit inquiry that allows you to verify your eligibility, view your estimated rate, and get access to your FICO™ Score 8, which is the credit score used by 90% of lenders. This process helps you explore your loan options without affecting your credit.
If you decide to proceed with a full loan application, a hard credit check will be performed. While a hard inquiry may impact your credit score, the effect is usually minor and temporary. The slight dip in your score typically recovers over a short time, and should not discourage you from applying if you’re seriously considering a loan.
Borrowing eligibility requirements
Here are our minimum requirements to be approved for a loan on goPeer.
- Minimum 18 years of age or older
- Credit score of 600 (Equifax FICO 8 Score)
- Annual income of at least $35,000 (Employment insurance not accepted)
- A debt-to-income ratio of less than 35% (Monthly debt obligations / monthly gross income)
- No bankruptcy within the past 12 months
- Must have a Canadian bank account or equivalent
- Must be a Canadian resident for at least 3 years
- Must have at least 3 trades on your credit file (credit card, line of credit, auto loan, mortgage, etc.)
If you meet these requirements then please proceed to apply through our website. If unsure, you may still proceed to apply using our pre-qualification flow, which will verify your eligibility without impacting your credit score.
Why are your rates (APR) cheaper than other lenders? What’s the catch?
The main reason our rates are cheaper than the rates offered by the competition is that we are a peer-to-peer lending company.
Banks use deposits from savers to lend to borrowers and charge high APRs, keeping the profits for themselves.
With us, you get to cut out the banks and borrow directly from fellow Canadians. Most of them are ordinary people wanting to get better interest rates than if they were to put their money in a savings account and so they are happy to accept lower APRs than the banks would charge. As we are internet based, we also don’t have the same overheads as banks do with multiple branches, so this helps keep the costs down.
How does goPeer make money? Does goPeer charge borrowers a fee?
goPeer charges borrowers an origination fee, the amount of which is dependent on how much you would like to borrow, the repayment term and your personal credit profile. There is nothing to pay up front, the origination fee is deducted from the proceeds of the loan.
When you apply for a loan, we will tell you the fee that applies; it is also included in your APR so that there’s no surprise. No hidden fees.
Is the information I share with goPeer secure?
At goPeer privacy and security is very important to us and is something that we take seriously. We operate a digital business within the financial services sector, necessitating increased consideration and scrutiny. Appropriately our platform has been built upon the principals of Security by Design, meaning that it has been designed from the foundation to be secure.
We implement a multi-layered approach to security, with strict constraints and controls in place for each layer to establish a fortified barrier. Among these layers we incorporate specialised security protocols including bank grade or better encryption of data at rest, in motion, and additional public-key (RSA-4096) encryption of sensitive information. The public-key encryption allows a system collecting sensitive data to encrypt and store it, but not retrieve or decrypt it, ensuring that no system or person, including staff, can decipher it, except for the intended system.
As a securities dealer and the first registered consumer peer-to-peer platform in Canada, we are subject to an annual third-party audit. goPeer has retained Stamped, Chartered Professional Accountant Inc. as it’s auditor.
Further details pertaining to the security and privacy of personal data is disclosed within our Privacy Policy.
Can the loan be repaid early?
Yes, borrowers can repay their loans early without a prepayment penalty. Extra payments can be made conveniently through the goPeer self-serve platform.
Disclaimer: goPeer offers unsecured personal amortizing loans throughout Canada in amounts from $1,000 to $35,000 with terms of 3 or 5 years and annual percentage rates (“APR”) between 8.99% and 34.99%, depending on an assessment of the borrower’s credit profile, financial position, and ability to service the loan. If a payment is unsuccessful, goPeer may charge an unsuccessful payment fee of $50. If a payment is late 30 or more days, goPeer may charge a late payment fee of $25 or 5% of the payment due, which ever is greater. goPeer charges an origination fee included in the advertised APR. There are no other fees on loans. Loans are subject to credit and underwriting approval and lending rules may vary by province. For example, the average borrowing cost paid on a $10,000 unsecured personal loan at an APR of 19.99%, with a 3-year term and weekly payments of $85.36 is $3,301.20.
Calgary (Head Office)
500 4th Ave SW, Suite 2500
Calgary, Alberta T2P 2V6
Toronto
111 Peter Street, Suite 700
Toronto, ON
M5V 2H1
© 2024, goPeer®. All Rights Reserved.
Peer Securities is a member of the Ombudsman for Banking Services and Investments,
and a registered exempt market dealer in all Canadian provinces. NRD #65410