RSP Loan Workflow — PDF manual loan application
Fax submissions are now accepted effective December 1, 2016. Check with your dealer/agency for preferred application submission method.
Here are the steps to follow to apply by paper:
If approved, fax us the complete printed application with all original signatures and required supporting documentation.
Supporting documentation may include:
- Void cheque from a personal chequing account, imprinted with the borrower's name.
- Letter of Direction (if paying out an RSP loan at another financial institution)
- A B2B Bank Dealer Services² Retirement Plan Application or a B2B Bank Deposits RSP or RIF Account Application (for new B2B Bank Standard Program loan clients only).
Is a Proof of Assets or Proof of Income required?
Credit approved RSP Loans $10,000 and under do not require Proof of Income (POI)/Proof of Assets (POA).2
|Requested RSP Loan amount||$10,000||$6,000||$10,000|
|Existing RSP/TFSA Loan balance||$0||$4,000||$8,000|
|Total RSP/TFSA Loan balance||$10,000||$10,000||$18,000|
POI/POA will be required if the RSP Loan amount requested plus any RSP/TFSA Loan balances with B2B Bank exceed $10,000.
For credit approved loans greater than $10,000, include:
- Proof of income by way of:
- Salaried income: recent pay stub or Notice of Assessment
- Commissioned sales income: last 2 years' Notice of Assessment
- Self-employed income: last 2 years' Notice of Assessment and Financial Statements
- Proof of assets, upon request (e.g., statements/assessments)
Send us all pages of the completed application and any supporting documentation to:
Fax application to:
Attn: B2B Bank Investment Lending
Mail original documentation to:
B2B Bank, Investment Lending
199 Bay Street, Suite 600
PO Box 279 STN Commerce Court
Toronto ON M5L 0A2
Note: Distribution Alliance programs may have different documentation routing. Check the details of your specific program.
B2B Bank will provide a credit decision typically within one business day upon receipt of the original application. The status will be communicated to you by email and/or fax.
The RSP loan will be funded on a reasonable efforts basis upon receipt and approval of completed and signed documentation.
1B2B 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.
2 Occasionally, B2B Bank may request POI/POA on certain applications. Subject to dealer requirements.