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.