Rates & Fees
Know your Professionals
Products
Policy & Limits
Insurance
100
What is the market variable interest rate for Medical Doctors, Dentists and Veterinarians?
Prime - 0.25%
Medical & Dental has been at prime-0.25% for few years now. Vet market rate has just recently dropped to P-0.25%
100
These Business Professionals are the single most profitable group to Business Banking, largely due to above average deposit balances.
Lawyers (7761) 
Holding large deposit balances in their trust accounts, the industry also represents the highest quantity of our professional accounts.
100
This financial product helps our professionals manage cash flow gaps, for example due to delayed government reimbursements or patient billing.
Business Line of Credit (BLOC) or Operating Line
Consider purpose of funds when sizing a revolving credit facility for a Professional Practice. Distinguish actual working capital needs and recommend appropriate alternatives for personal purpose investments.
Line sizing for Healthcare Professionals is normally based on 3 months average billings. Line sizing for Business Professionals is set to general industry BLOC guidelines.
100
Policy permits Professional Practice Financing Program (PPFP) loans for one or more practices to a maximum of how many practices per owner / practitioner?
3 practices per owner practitioner.
Practices must be within a reasonable geographic distance; and the owner / practitioner must be able to demonstrate ther ability to reasonably service each of the practices on a weekly basis.
100
As of April 10, 2025 TD's PPFP policy for Business Professionals, Doctors or non-established* Practice (Dentist, Veterinarians, Optometrists) has increased the exposure threshold for insurance requirement from >$100,000 to now how much?
>$150,000
This relates to Assignment of Life or TD BCLI as well as evidence of Disability, Malpractice/Professional Liability and Practice Interruption Insurance coverages.
Exposure threshold for Practitioners (Dentists, Veterinarians or Optometrists) with an Established Practice remains as >$500,000
*'Established Practice is defined as having both, more than three years of operations and financial statements which can support DSC guidelines.
200
What is the market variable interest rate for Accountants & Lawyers
Prime + 0 - 0.5%
200
What calendar date is the annual tax filing deadline for individuals and most businesses?
April 30th
Your Accountant COIs enter their busiest two-month period prior to this date as when they prepare and file said tax returns. Be sure to reach out in January/February to stay top of mind leading into these customer interactions.
200
Professional Student Line of Credit (PSLOC)
Medical (MD) or Dental (DDS/DMD) students enrolled in non-Canadian or US institutions may be eligible for a maximum PSLOC facility amount of $____________.
$325,000
Non-Canadian attending students (med/dental/vet) will always require a co-borrower.
200
True or False?
Both Healthcare Professionals AND Business Professionals can qualify for 12 year amortization on practice purchase financing.
False
Only Healthcare Professionals can apply for the 12 year maximum amortization, subject to meeting the following criteria:
1. DSC within policy
2. Bureau score >=700
3. Owner/Guarantor with industry experience >=5 years
4. Loan is for practice purchase only
If the above is not met for Healthcare Practitioner, 10 year maximum as common for Business Professionals.
200
This insurance policy coverage is intended to cover fixed expenses and reimburse the insured for loss of practice related services income (up to a maximum period of 12 months) when the use of office is interrupted or interfered with through eligible cause.
Practice/Business Interruption Insurance
Evidence of this coverage can usually be found as a rider to the Fire Insurance Policy.
300
Name three (3) non-program healthcare professional industries that are included in our General Professionals program for preferential pricing in SBB.
Chiropractors (8661), Occupational Therapists (8665), Podiatrists and Chiropodists (8667), Physiotherapists (8665) and Pharmacists (6031, 6033).
While these practitioners are not eligible for PPFP lending terms and conditions, pricing is still discounted to Prime +1.00% less 50bps rate discretion (effective rate Prime +0.50%).
300
In Canada, the Medical Services Plan (MSP) is a publicly funded program and administered by this level of government:
a) Federal
b) Provincial / Territorial
c) Municipal
b) Provincial / Territorial
Specifically, the Provincial Ministries of Health are responsible for the MSP. The federal government provides funding to provinces through the Canada Health Transfer, and although they do not have a role in administering health insurance plans like MSP, there is some oversight through standards set by the Canada Health Act (CHA) which provinces must abide to receive federal funding.
300
The ONE TD Healthcare Deposit Account offer entitles which qualifying practitioners, operating SBB accounts, to one free Unlimited Business Plan lifetime TD relationship rebate? (Select all that apply)
a) Doctors
b) Dentist
c) Veterinarians
d) Optometrists
e) Lawyers
(a),(b), (c) & (d)
Veterinarians and Optometrists were added to the One TD Healthcare Deposit offer since June 2023.
Lawyers are subject to standard account pricing for their operating accounts.
300
For Healthcare Professional Practice Financing, a principal deferral option (interest only) can be extended up to 24 months for:
a) new start-up of a practice
b) existing practice purchase / share buy-in
c) both a & b
a) New practice purchase only
The 24 month principal deferral option is made exclusive to Healthcare practitioners, whereas business professional start-ups will only be eligible under policy for 12 months.
300
Commercial TBO Reports
Assigned Life Insurance Policy Enquiry Form No. 2
True or False
When confirming renewal or status of an assigned insurance coverage, CAS is restricted by credit policy to communicate with insurance companies strictly by fax or postal mail only.
True
CAS will NOT phone or email to follow on ENQ #2. After 3 fax/mailed attempts they will forward to the assigned Account Manager to follow.
When dealing with persistent ENQ #2 TBO items, call the phone number on the policy!
400
What is the market rate for Optometrists?
Prime + 0.00 - 0.50%
400
How many years does it take a veterinarian to complete their university education before they can become licensed to provide medical and surgical care for animals?
At least six years
This includes two years of pre-veterinary studies followed by four years of veterinary medicine courses.
Did you know that there are only five veterinary colleges in Canada?
*University of Prince Edward Island (Atlantic Veterinary College)
*University of Guelph (Ontario Veterinary College)
*University of Saskatchewan (Western College of Veterinary Medicine)
*Université de Montréal (Faculté de médecine vétérinaire)
*University of Calgary (Faculty of Veterinary Medicine)
400
This contingency facility is used to govern the Bank's exposure to capital loans issued to partners of a professional firm. The facility allows the Bank to rely on the firm as a credit risk mitigant without providing a corporate guarantee to each partnering individual.
Umbrella Facility
Terms and conditions are determined by the Private Banking Group, while underwriting is completed by the Commercial Banking Centre. An Umbrella Facility is required when a firm has more than 5 funded capital loans.
400
Which of the following is NOT an eligible purpose of PPFP lending funds:
a) Professional practice new start-up relying on financial projections only
b) Purchase of an established professional practice
c) Equity take-out (ETO) from a practice already owned
d) Equity share purchase into an existing practice
e) Refinance facility(ies) from other financial institution
c) ETO from a practice already owned
In cases where ETO is requested by the borrower the submission must be presented as an exception to policy and will be considered on a case-by-case basis
400
What is the difference between a revocable vs. irrevocable beneficiary designation under a Life Insurance policy?
Consent of Beneficiary
A revocable beneficiary can be changed at any time by the policyholder (or account owner) without the beneficiary's consent or knowledge. An irrevocable beneficiary, on the other hand, can only be changed with the written consent of the beneficiary - which necessitates their signature on our security document.
500
How much does SBB charge for set-up fee and annual review fee for all qualifying PPFP industries (Healthcare & Business professionals)?
No set-up or review fee
500
This federal program was introduced on May 1, 2024 to provide dental coverage for eligible Canadian Residents, particularly those without private or workplace dental insurance and with low-to-moderate incomes.
Canadian Dental Care Plan (CDCP)
Dentists participation in the CDCP is optional, however approximately 75% of all Canadian oral health care providers have opted in since last year.
500
The Healthcare Unsecured Line of Credit (HCLOC) for Medical Doctors and Dentists can be applied for exclusively through Private Banking for a maximum credit limit of $_____________.
$400,000 (less any outstanding student credit).
Maximum total unsecured credit exposure of $500,000 per borrower including personal lending (LOC, LON, ODP) and SBB (BLOC, ODP)
500
PPFP Security Registration
A Solicitor's Letter of Opinion (SLO) is required for all Healthcare Professional total credit exposure requests greater than $________.
$2,500,000
Note 1: Healthcare Professional deals will default to SLO required greater than $1,000,000 if any of the below are true:
-More than one owner of the borrower
-Material amendment to TD's standard security documentation
-Corporate Guarantee(s) where the ownership is not the same as the Borrower
Note 2: In all cases for Business Professionals, SLO is required for total exposure greater than $1,000,000.
500
Most Canadian physicians have malpractice coverage through membership of this "mutual medical defense organization".
To satisfy the Banks evidence of malpractice/professional liability requirement we can even accept TD account debited membership fees to this association.
The Canadian Medical Protective Association
(CMPA)
Though not an insurance company; CMPA is a mutual trade organizations where members share costs, benefits and pool compensation to injured patients (resulting from negligent medical care) as a means to safeguard their professional integrity.