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Products > Banking > Loans > RRSP loans

2019 Manulife Bank RRSP Loan Program

Help your clients reach their retirement savings goals sooner with Manulife Bank’s RRSP Loan Program.1 An RRSP Loan could help your clients keep their retirement savings plan on track and grow their savings. With our wide range of investment options and simple, fast online application process for our standard program (paper application for our RRSP Accelerator loans) helping your clients maximize their RRSP contributions has never been easier.

Important deadlines

To qualify for a “First 60-Day Contribution” receipt, client signatures must be obtained on the loan documents by midnight on March 1, 2019. All standard RRSP loan applications must be “Submitted” online and signed loan documents faxed to Manulife Bank in good order by midnight on March 4, 2019.   

For RRSP Accelerator Loans, the application deadline is midnight February 22, 2019 to allow for the additional credit adjudication required.

BankLink – Online application tool

Manulife Bank standard RRSP Loans are submitted using BankLink, our online application and client information tool. You’ll find everything you need to get started on the BankLink welcome page, including support documents such as RRSP Loan Application Instructions and Frequently Asked Questions. BankLink makes it easy for you to submit RRSP Loan applications and track their status. To save you time, BankLink pre-populates the client’s information if they are a Manulife Bank client under your advisor code.

NOTE: For Manulife Bank RRSP Accelerator Loan program, please use paper application forms only (AB0415E).

RRSP Loan features

Name Standard RRSP Loan RRSP Accelerator Loan RRSP Accelerator Max Loan
Minimum Loan $1,000 $5,000 $10,000
Maximum Loan $26,230 $50,000 $150,000
Funds available Manulife Bank Guaranteed Investment Certificates (GICs) and Registered Advantage Account
Manulife Investments Guaranteed Investment Contracts (GICs)
Manulife Segregated Fund contracts
Manulife Mutual Fund accounts
Manulife Securities Nominee Name and Premier Investment Program (all available investment types)
Manulife Group Retirement Solutions (GRS)
Interest rate* Manulife Bank Prime Lending Rate + 0.50% Manulife Bank Prime Lending Rate + 1.50% Manulife Bank Prime Lending Rate + 2.50%
Loan term

1 to 2 years

No prepayment charges for early repayment

1 to 5 years

No prepayment charges for early repayment

1 to 10 years

No prepayment charges for early repayment

120 day Payment Deferral available? Yes No No
Payment options Equal monthly payments made over the term of the loan.
First payment can occur between 7 and 45 days from funding, based on your client’s request.
Credit Adjudication Credit check Full credit adjudication Full credit adjudication


RRSP Calculators

Manulife Bank has the following calculators to help you and your clients answer the following questions;

  1. How will an RRSP Loan help me? Find out with our ‘A Tale of Two RRSPs Calculator’
  2. I don’t want to take a long term loan and pay a lot of interest, but I do want to increase my tax refund. What is the RRSP Loan amount I should take? Use our RRSP Optimizer Calculator
  3. What is the monthly payment amount? How much interest will I have to pay? Use the RRSP Loan Payment Calculator


A Tale of Two RRSPs Calculator

With Manulife Bank’s A tale of two RRSPs Calculator, you can quickly and easily illustrate the long-term growth potential of five basic contribution strategies for your clients, including increasing their annual contribution, contributing early in the year and starting to contribute early in life.  Use the calculator results to demonstrate the value of a Manulife Bank RRSP Loan with your clients.

RRSP Optimizer Calculator 

The RRSP Optimizer Calculator is designed to calculate the RRSP loan amount that equals your client’s expected tax refund, excluding the cost of borrowing.  It takes into consideration other contributions your client has made in this taxation year as well as their marginal tax rate.

RRSP Loan Payment Calculator

The RRSP Loan Payment Calculator is designed to calculate the monthly repayment amount and cost of borrowing for various loan amounts and loan terms so you and your client can make an informed decision.

Getting started

You must have a current Repsource ID and password to submit RRSP Loan applications. Two business days may be required to approve a new Repsource ID so register now if you don’t already have one.


For more information on Manulife Bank RRSP Loans, please review our Quick Reference Card or call your Business Development Consultant or our Advisor Support Centre at 1-800-567-9170.

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