The RSP loan program

Help your clients maximize their contribution room with a B2B Bank RSP Loan today.
 

Faster funding
Clients get their loans faster with a 2-day turnaround.1

Automated approval
All applications with a minimum credit score of 725 are automatically approved.2

Accessible
No proof of income (POI) or proof of assets (POA) required for loans up to $50,000.3

Competitive pricing
Market-leading interest rates for loans with a term between 6 and 10 years.

Multiple funding options
Proceeds can be invested in an RRSP and/or RESP with a number of leading insurance and mutual fund companies.

  1. Dependent on receiving the application documentation in good order (IGO) from advisor.
  2. Subject to Total Debt Service Ratio (TDSR), total connection and other B2B Bank credit requirements (e.g. minimum 3 months employment, no bankruptcy, etc.).
  3. Occasionally, B2B Bank may request POI/POA on certain applications. Subject to dealer requirements.

Lending programs

Distribution Alliance Program

  • Variable and fixed rate RSP loans
  • Minimum amount: $2,500 (unless otherwise stated)
  • Maximum amount: none
  • Variable rate loan terms: 1 to 10-years
  • Fixed rate loan terms: 1 or 2-years
  • Deposit proceeds to your clients' RRSP or RESP at any participating Distribution Alliance

  • 1 year variable: 8.20%
    (Prime1 + 1.00%)
     
  • 2 years variable: 8.70%
    (Prime1 + 1.50%)
     
  • 3 – 4 years variable: 9.70%
    (Prime1 + 2.50%)
     
  • 5 years variable: 9.70%
    (Prime1 + 2.50%)
     
  • 6 – 9 years variable: 10.45%
    (Prime1 + 3.25%)
     
  • 10 years variable: 10.45%
    (Prime1 + 3.25%)
     
  • 1 year fixed: 10.70%
     
  • 2 years fixed: 11.70%

The loan proceeds can be forwarded to a fund manufacturer, mutual fund dealer or investment dealer that participates in a Distribution Alliance Program. The proceeds can be forwarded to either an RRSP account, an RESP account or a combination of both.

Standard Loan Program

  • Variable and fixed rate RSP loans
  • Minimum amount: $2,500
  • Maximum amount: none
  • Variable rate loan terms: 1 to 10 years
  • Fixed rate loan terms: 1 or 2 years
  • Deposit proceeds to a B2B Bank Dealer Services RRSP account or a B2B Bank RRSP GIC account
  • 1 year variable: 8.20%
    (Prime1 + 1.00%)
     
  • 2 years variable: 8.70%
    (Prime1 + 1.50%)
     
  • 3 – 4 years variable: 9.70%
    (Prime1 + 2.50%)
     
  • 5 years variable: 9.70%
    (Prime1 + 2.50%)
     
  • 6 – 9 years variable: 10.45%
    (Prime1 + 3.25%)
     
  • 10 years variable: 10.45%
    (Prime1 + 3.25%)
     
  • 1 year fixed: 10.70%
     
  • 2 years fixed: 11.70%

The loan proceeds from your RSP loan can be allocated across multiple fund manufacturers through a B2B Bank Dealer Services RRSP account or into a B2B Bank RRSP-GIC account.
 

RSP planning with your client

Evaluate your clients’ ability to qualify for an RSP loan before submitting an application to B2B Bank.
 

 
 
Successfully complete the application process.
Application checklist
Tips for avoiding delays
 
 

Is a Proof of Assets or Proof of Income required? 

Credit approved RSP Loans $50,000 and under do not require Proof of Income (POI)/Proof of Assets (POA).2

POI/POA will be required if the RSP Loan amount requested plus any RSP/TFSA Loan balances with B2B Bank exceed $50,000.

 
 

Administer your clients’ loan post funding
Loan administration tips

The application process

The easiest and fastest way to submit your clients’ loan applications is online through EASE.

  • Enter, save, print and submit applications.
  • Receive status emails within seconds.
  • Track multiple applications through to funding.
  • Generate reports to keep track of your business.

Learn more about EASE

 

 

EASE login »

Register for EASE online or contact us at 1‑800‑263‑8349.

Workflows

For more information

Marketing materials

The prime rate shown is 7.20% and is as of July 13, 2023. For current interest rates, please visit b2bbank.com. The annual percentage rate (APR) is the same as the posted rate and is based on a 10-year term and assuming the rate does not change for the duration of the loan. The APR is a variable rate and all rates are subject to change without notice.

*2 Occasionally, B2B Bank may request POI/POA on certain applications. Subject to dealer requirements.

B2B Bank acts in the capacity of lender and/or account administrator, and does not provide investment advice. Dealers, advisors and brokers, not B2B Bank, are responsible for determining the suitability of products and services for their clients and for informing them of any related risks. Any loan approval by 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. While RSP loans have the ability to magnify gains, they also have the potential to magnify market losses. B2B Bank reserves the right to request additional information or documentation at its sole discretion. B2B Bank products and services are only available through financial intermediaries. 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.