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Rates

Our rates are consistently among the most competitive in Niagara. Whether you want to pay down your mortgage faster, or watch your money grow more quickly, you can be confident that your money is being put to work at PenFinancial.

Your money is safe at PenFinancial. Your deposits held at PenFinancial are insured by FSRA for up to $250,000 for unregistered accounts, and unlimited deposits for registered accounts. Learn more about deposit insurance →

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1 Rates are subject to change without notice.  Additional premiums may apply in cases of a refinance, extended amortizations, non-owner occupied, or other instances where application details may warrant it.
A High Ratio mortgage is applicable in cases where a borrower places a down payment of less than 20% of the purchase price on a home. Refinances, renewals and amortization periods of greater than 25 years are ineligible. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000 and under $1,000,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Offer may change or be withdrawn at any time without notice. 
For commercial mortgage rates, please refer to your Commercial Account Manager.
2 Rates are subject to change without notice.
3 Interest rates shown are subject to change without notice. Interest is calculated on the closing daily balance and is paid on the last day of each month. Interest is calculated on the closing daily balance and is paid monthly in the same currency as the account.
U.S. dollar deposits are not covered by the Financial Services Regulatory Authority (FSRA).
4 Interest rates are subject to change without notice and are annualized rates, with interest calculated daily and paid monthly. 
5 Interest rates are subject to change without notice and are annualized rates, with interest paid and compounded annually.
6 Bank of Canada exchange rates differ from the buy and sell rates offered at PenFinancial. All Bank of Canada exchange rates are indicative rates only. For details, please read their full Terms and Conditions.