Where applicable, the appropriate regulatory license is required to sell this product.
Make RSP loans a cornerstone of your growing business and a key part of your clients’ financial success.
We have the tools and resources to help you evaluate your clients’ ability to qualify for an RSP loan before submitting an application to B2B Bank.
Visit the RSP Centre.
Proceeds from a B2B Bank Standard RSP Loan can be deposited to:
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To assist the investment loan process, below is a chart that outlines the proof of income and proof of asset document requirements. Select the income or asset type below to ensure you obtain the appropriate documentation from your clients.
One of the following is required:
TIP: You may also be required to provide a letter of employment from your client. Ensure that it is dated within the past 30 days.
One or more of the following may be required:
Required to provide:
TIP: Ensure that the declared income on the loan application matches the net income on line 150 of the NOA.
TIP: You may also be required to provide one or more of the following documents from your client:
Ensure that the declared income on the loan application matches the net income on line 150 of the NOA.
TIP: When your client is retired for less than one year, provide both of the following documents:
TIP: You may also be required to provide your client’s lease agreement.
The following income types and documentation will NOT be accepted:
Non-financial account changes
RSP loan application
Letter of direction
EASE workflow for online submissions
RSP Loan FAQs
*Occasionally, B2B Bank may request POI/POA on certain applications. Subject to dealer requirements.
1 Clients can defer their first payment for up to 180 days on all B2B Bank RSP Loans. If a deferral option is selected, the first payment is due on the first payment date after the expiration of the deferral period. The interest accrues from the date of funding and extends the term of the loan by the length of deferral. RRSP contributions cannot be deducted from income in all circumstances. Consult a qualified tax professional for more information.
2 On loans up to the maximum RRSP deduction limit for the current year with terms of 1 or 2 years.
3 B2B Bank Dealer Services includes B2B Bank Financial Services Inc. (an MFDA member), B2B Bank Securities Services Inc. (an IIROC member, Member - Canadian Investor Protection Fund) and B2B Bank Intermediary Services Inc. (an AMF-regulated dealer operating in Quebec). B2B Bank is a trade-mark used under license.
While RSP loans have the ability to magnify gains, they also have the potential to magnify market losses. B2B Bank does not provide investment advice to individuals or advisors and does not endorse nor promote any investment products. The dealer and advisor, not B2B Bank, are responsible for determining the suitability of investments for their clients and for informing them of the risks associated with borrowing to invest. B2B Bank acts solely in the capacity of lender and loan account administrator. Any loan approval from B2B Bank should not be construed as an endorsement of any investment choice, program or strategy. All loans are subject to credit approval and borrowed monies are due and payable regardless of the performance of the investments purchased. B2B Bank reserves the right to request additional information or documentation at its sole discretion. The B2B Bank RSP Loan Program is available exclusively through licensed financial advisors. Individuals should consult qualified tax specialists.
This information is intended for financial intermediaries only.