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 Offer may change or be withdrawn at any time without notice.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.
Offer can be withdrawn at any time. Initial rate at beginning of GIC is 1.60%. GIC rate increases if the Bank of Canada increases Bank of Canada overnight interest rate. GIC rate increases are limited to a maximum of 0.25% per calendar year and are effective on the day the Bank of Canada increases overnight interest rate.
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.