Don’t borrow for an RRSP
Don’t borrow to contribute to an RRSP unless you’re in the top tax bracket and need the deduction this year. If you borrow you’ll probably find that you’re on a cycle of borrowing each year because you won’t have saved up what you need; you were too busy paying off the loan. Instead, take what you would have spent on loan repayments and use that money to make monthly contributions. Doing it this way will not only save you money in loan interest, it’ll get you in the habit of making your savings a planned monthly affair.