Payment Reset for Investment Loans, RSP Loans and TFSA Loans

To ensure that ongoing loan commitments are met, the monthly payment amount on any Investment Loan, RSP Loan or TFSA Loan may be reset1 to align with the applicable changes to the B2B Bank Prime Rate or B2B Bank Alternative Rate.2

Going forward, we will review payment amounts on a quarterly basis, adjust them as needed and provide confirmation in the clients’ account statements.

Keeping your clients informed

To provide an opportunity to discuss this with your affected clients, we will be providing a personalized letter for each of your clients’ impacted loans, including their new payment3 amount.

Frequently asked questions

  1. Where can I obtain the new payment amounts for my impacted clients?
    If you would like to receive a listing of payment amounts for your clients, contact Client Services at 1-800-263-8349.
  2. Will I receive a copy of the letter being sent to my clients?
    You will not receive a duplicate of the personalized letter that is sent to your clients, but you can view the letter template that we used:
  3. Will my clients receive a personalized letter each time their payment is adjusted?
    No, clients will not receive a personalized letter each time their payment is adjusted. In the future, if their loan payments change, clients will receive confirmation in their quarterly account statements.
  4. How often will my clients’ payment amounts be adjusted?
    We will review payment amounts on a quarterly basis, adjust them as needed and provide confirmation in your clients’ quarterly account statements.
  5. Which loans are impacted by this change?
    The payment adjustment is applicable to all Investment Loans, RSP Loans and TFSA Loans, including interest-only and principal-and-interest loans.
  6. Why would an increase in the B2B Bank Prime Rate or B2B Bank Alternative Rate affect my clients’ payment amounts?
    Their payment amounts may increase if they are currently less than the required minimum payment to service the loan.