Our Popular Terms
Here are current popular purchase and switch terms for select fixeddisclaimer1 and variabledisclaimer3 rate closed mortgages:
Additional terms available - connect with an advisor to find out more.
| Term | Rate | APRdisclaimer2 |
|---|---|---|
| 2 Year Fixed | 6.390% | 6.450% |
| 3 Year Fixed | 5.550% | 5.590% |
| 5 Year Fixed | 5.140% | 5.170% |
| 5 Year Fixed High Ratiodisclaimer4 | 4.840% | 4.870% |
| 5 Year Variable | RBC Prime Rate - 0.310% (6.890%) | 6.920% |
| 5 Year Variable High Ratiodisclaimer4 | RBC Prime Rate - 0.610% (6.590%) | 6.620% |
Connect with an RBC Advisor
Complete this form and an RBC Advisor will contact you to answer any questions about buying a home, switching your mortgage to RBC, renewing, or refinancing your mortgage. We look forward to connecting!
Funds must be advanced within 120 days of date of application. Offer may be
changed, withdrawn or extended at any time, without notice.
Personal lending products and residential mortgages are offered by Royal Bank of
Canada and are subject to its standard lending criteria. Some conditions apply.
Special Offers are discounted rates and are not the posted rates of Royal Bank
of Canada. Specials Offers may be changed, withdrawn or extended at any time,
without notice.
Legal Disclaimer1
Interest rate compounded half-yearly, not in advance.
Interest rates are subject to change without notice at any time.
Legal Disclaimer2
The annual percentage rate (APR) is based on a $ 250,000
mortgage for the applicable term assuming a processing fee of $300 (which
includes fees associated with determining the value of the property). If there
are no cost of borrowing charges, the APR and the interest rate will be the
same.
Legal Disclaimer3
Interest rate is compounded monthly, not in advance. This
rate may change at any time without notice. Royal Bank of Canada prime rate is
an annual variable rate of interest announced by Royal Bank of Canada from time
to time as its prime rate.
Legal Disclaimer4
This rate is only available to customers with less than 20%
down payment, purchasing a residential property valued at under $1,000,000, who
are eligible for and purchase mortgage default insurance and meet other
conditions.
Legal Disclaimer*
This Promotional Offer is comprised of a Cash Offer component and a Points Offer component, as described below. In order to be eligible for and obtain the applicable benefit of the Points Offer component of the Promotional Offer, you must first qualify for the Cash Offer component by meeting its applicable terms and conditions.
Legal Disclaimer5
Cash Offer Component Terms & Conditions:
Provided you meet the terms and conditions described below, you may qualify to receive the applicable cash amount deposited to an RBC “Eligible Personal Deposit Account” (as described below).
An “Eligible Mortgage Application” is a personal residential mortgage application that results in a written mortgage pre-approval or approval, containing an interest rate commitment, dated between March 18, 2024 and June 30, 2024 (inclusive), in Canada only. Mortgage must fund within 120 days from the start of the rate commitment and no later than October 28, 2024. Offer available only for new mortgages or RBC Homeline Plan mortgage segments of the following types and terms:
If you open a new RBC Homeline Plan® account, you may be eligible to receive the Cash Offer component based on the total principal amount(s) in the mortgage segment(s) of the RBC Homeline Plan.
This offer is limited to personal clients and new residential mortgages / RBC Homeline Plan mortgage segment(s) mortgages on owner-occupied residential dwellings only. Non-personal clients, commercial/investment properties, and properties not owner-occupied are excluded.
This offer is also not available in respect of any of the following transactions: an amendment to an existing mortgage with RBC; an advance of additional funds; a mortgage renewal; a mortgage switched to RBC from another financial institution; a new mortgage segment within an existing RBC Homeline Plan; a mortgage portability transaction; or a transfer of an existing mortgage with RBC to an RBC Homeline Plan. In addition, you are not eligible to participate in or receive the benefit of this Promotional Offer if you are currently participating, or have in the past participated, in an RBC Mortgage offer offered in conjunction with a new home builder. You may contact us for additional details and/or to confirm your eligibility. Offers may be combined or used in conjunction with only certain other RBC offers, only as and to the extent permitted under the terms and conditions of such other RBC offers. See your RBC mortgage specialist for additional details. This offer is subject to RBC’s standard lending criteria for residential mortgages. Offer may be withdrawn or amended without notice at any time.
Mortgage must remain open until the end of mortgage term; should your mortgage be repaid or otherwise closed or discharged prior to the end of its term, we reserve the right to demand repayment of the cash benefit amount you received, and by participating you agree (i) to repay this amount upon demand and (ii) that we may, without notice to you, debit any account you hold with us for such an amount.
NOTE: To receive the applicable cash benefit, you must have or open an RBC Royal Bank Canadian dollar “Eligible Personal Deposit Account” (as described below) or an RBC Private Banking Account, and you must use it to make at least one payment for your mortgage by November 30, 2024. An “Eligible Personal Deposit Account” means one of the following RBC personal deposit account types: RBC Staff Banking, RBC VIP Banking, RBC Advantage Banking, RBC Advantage Banking for students, RBC Signature No Limit Banking, RBC No Limit Banking, RBC Day to Day Banking, RBC Student Banking, RBC No Limit Banking for Students, RBC Day to Day Savings, RBC Enhanced Savings, RBC High Interest eSavings. If you have more than one Eligible Personal Deposit Account, we reserve the right to choose, in our sole discretion, the Eligible Personal Deposit Account to which your cash benefit will be credited. The cash benefit will be credited eight weeks after all the criteria for an “Eligible Mortgage Application” are met. If you do not have an Eligible Personal Deposit Account by October 28, 2024, and make a mortgage payment from an eligible account by November 30, 2024, you will be deemed to have not qualified for this offer and will not be eligible to receive its benefits. RBC reserves the right to charge your account if you payout your mortgage before the end of your term.
Provided you meet the terms and conditions described below, you may qualify to receive the applicable cash amount deposited to an RBC “Eligible Personal Deposit Account” (as described below).
An “Eligible Mortgage Application” is a personal residential mortgage application that results in a written mortgage pre-approval or approval, containing an interest rate commitment, dated between March 18, 2024 and June 30, 2024 (inclusive), in Canada only. Mortgage must fund within 120 days from the start of the rate commitment and no later than October 28, 2024. Offer available only for new mortgages or RBC Homeline Plan mortgage segments of the following types and terms:
- 3-year fixed interest rate closed mortgage
- 4-year fixed interest rate closed mortgage
- 5-year fixed interest rate closed mortgage
- 5-year variable closed mortgage
If you open a new RBC Homeline Plan® account, you may be eligible to receive the Cash Offer component based on the total principal amount(s) in the mortgage segment(s) of the RBC Homeline Plan.
This offer is limited to personal clients and new residential mortgages / RBC Homeline Plan mortgage segment(s) mortgages on owner-occupied residential dwellings only. Non-personal clients, commercial/investment properties, and properties not owner-occupied are excluded.
This offer is also not available in respect of any of the following transactions: an amendment to an existing mortgage with RBC; an advance of additional funds; a mortgage renewal; a mortgage switched to RBC from another financial institution; a new mortgage segment within an existing RBC Homeline Plan; a mortgage portability transaction; or a transfer of an existing mortgage with RBC to an RBC Homeline Plan. In addition, you are not eligible to participate in or receive the benefit of this Promotional Offer if you are currently participating, or have in the past participated, in an RBC Mortgage offer offered in conjunction with a new home builder. You may contact us for additional details and/or to confirm your eligibility. Offers may be combined or used in conjunction with only certain other RBC offers, only as and to the extent permitted under the terms and conditions of such other RBC offers. See your RBC mortgage specialist for additional details. This offer is subject to RBC’s standard lending criteria for residential mortgages. Offer may be withdrawn or amended without notice at any time.
Mortgage must remain open until the end of mortgage term; should your mortgage be repaid or otherwise closed or discharged prior to the end of its term, we reserve the right to demand repayment of the cash benefit amount you received, and by participating you agree (i) to repay this amount upon demand and (ii) that we may, without notice to you, debit any account you hold with us for such an amount.
NOTE: To receive the applicable cash benefit, you must have or open an RBC Royal Bank Canadian dollar “Eligible Personal Deposit Account” (as described below) or an RBC Private Banking Account, and you must use it to make at least one payment for your mortgage by November 30, 2024. An “Eligible Personal Deposit Account” means one of the following RBC personal deposit account types: RBC Staff Banking, RBC VIP Banking, RBC Advantage Banking, RBC Advantage Banking for students, RBC Signature No Limit Banking, RBC No Limit Banking, RBC Day to Day Banking, RBC Student Banking, RBC No Limit Banking for Students, RBC Day to Day Savings, RBC Enhanced Savings, RBC High Interest eSavings. If you have more than one Eligible Personal Deposit Account, we reserve the right to choose, in our sole discretion, the Eligible Personal Deposit Account to which your cash benefit will be credited. The cash benefit will be credited eight weeks after all the criteria for an “Eligible Mortgage Application” are met. If you do not have an Eligible Personal Deposit Account by October 28, 2024, and make a mortgage payment from an eligible account by November 30, 2024, you will be deemed to have not qualified for this offer and will not be eligible to receive its benefits. RBC reserves the right to charge your account if you payout your mortgage before the end of your term.
Legal Disclaimer6
RBC Avion Points Offer Component Terms & Conditions:
In addition to the Cash Offer, if your “Eligible Mortgage Application” is for a mortgage or RBC Homeline Plan mortgage segment with a principal amount greater than or equal to $100,000 and you have qualified for the Cash Offer component of the Promotional Offer by meeting its applicable terms and conditions as described above, you may be eligible to earn 55,000 RBC Avion points (“Bonus Points”).
To qualify to receive the Bonus Points, you must (i) have qualified to receive the Cash Offer component of the Promotional Offer, and (ii) before October 28, 2024, have an “Eligible Personal Deposit Account” (as described below) that is enrolled in the RBC Value Program, or open an Eligible Personal Deposit Account and enroll it in the RBC Value Program. Eligible Personal Deposit Accounts include: RBC Staff Banking, RBC VIP Banking, RBC Advantage Banking, RBC Advantage Banking for students, RBC Signature No Limit Banking, RBC No Limit Banking, RBC Day to Day Banking, RBC Student Banking, RBC No Limit Banking for Students, RBC Day to Day Savings, RBC Enhanced Savings, RBC High Interest eSavings. For more information on the RBC Value Program please visit: https://www.rbcroyalbank.com/onlinebanking/servicech/pdf/br-value-program.pdf
If you qualify to receive the Bonus Points by meeting all applicable terms and conditions, the Bonus Points will be deposited to the RBC Avion points account tied to your Eligible Personal Deposit Account within eight weeks after meeting all the criteria for an “Eligible Mortgage Application”, as described above.
If you do not have an Eligible Personal Deposit Account that is enrolled in the RBC Value Program by October 28, 2024, you will be deemed to have not qualified for the Bonus Points and will therefore not receive them.
In addition to the Cash Offer, if your “Eligible Mortgage Application” is for a mortgage or RBC Homeline Plan mortgage segment with a principal amount greater than or equal to $100,000 and you have qualified for the Cash Offer component of the Promotional Offer by meeting its applicable terms and conditions as described above, you may be eligible to earn 55,000 RBC Avion points (“Bonus Points”).
To qualify to receive the Bonus Points, you must (i) have qualified to receive the Cash Offer component of the Promotional Offer, and (ii) before October 28, 2024, have an “Eligible Personal Deposit Account” (as described below) that is enrolled in the RBC Value Program, or open an Eligible Personal Deposit Account and enroll it in the RBC Value Program. Eligible Personal Deposit Accounts include: RBC Staff Banking, RBC VIP Banking, RBC Advantage Banking, RBC Advantage Banking for students, RBC Signature No Limit Banking, RBC No Limit Banking, RBC Day to Day Banking, RBC Student Banking, RBC No Limit Banking for Students, RBC Day to Day Savings, RBC Enhanced Savings, RBC High Interest eSavings. For more information on the RBC Value Program please visit: https://www.rbcroyalbank.com/onlinebanking/servicech/pdf/br-value-program.pdf
If you qualify to receive the Bonus Points by meeting all applicable terms and conditions, the Bonus Points will be deposited to the RBC Avion points account tied to your Eligible Personal Deposit Account within eight weeks after meeting all the criteria for an “Eligible Mortgage Application”, as described above.
If you do not have an Eligible Personal Deposit Account that is enrolled in the RBC Value Program by October 28, 2024, you will be deemed to have not qualified for the Bonus Points and will therefore not receive them.
Legal Disclaimer7
Other Terms & Conditions Applicable to the Promotional Offer:
Limit of one Promotional Offer (i.e., limit of one Cash Offer and one Points Offer) per funded mortgage or RBC Homeline Plan with a mortgage segment.
Royal Bank of Canada reserves the right to cancel, modify or withdraw the Promotional Offer or any component thereof at any time, with or without notice to you.
® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
If you are an RBC Avion Visa Infinite, RBC Avion Visa Platinum, RBC Avion Visa Infinite Privilege, RBC Avion Visa Infinite Business, or RBC Avion Visa Business cardholder (“RBC Avion Cardholder”), 55,000 Avion points can be redeemed for a round trip long-haul flight to Mexico, Hawaii or Alaska from Eastern Canada or the United States, and to Bermuda, Central America, Caribbean from Western Canada or the United States, with a maximum ticket price of $1,100. All applicable taxes, service fees and surcharges are the responsibility of the traveler. For more details, including information on redeeming for first class and business class seats, visit: https://www.avionrewards.com/travel/index.html(opens new window). If you are not an RBC Avion Cardholder, different redemption rates apply. Avion points can also be redeemed for travel, gift certificates/cards, brand name merchandise, and more. All rewards are subject to availability and may change without prior notice. For complete terms, conditions and restrictions that apply to the Avion Rewards program, please visit: www.avionrewards.com(opens new window) or call 1-800 ROYAL 1-2 (1-800-769-2512).
Limit of one Promotional Offer (i.e., limit of one Cash Offer and one Points Offer) per funded mortgage or RBC Homeline Plan with a mortgage segment.
Royal Bank of Canada reserves the right to cancel, modify or withdraw the Promotional Offer or any component thereof at any time, with or without notice to you.
® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
If you are an RBC Avion Visa Infinite, RBC Avion Visa Platinum, RBC Avion Visa Infinite Privilege, RBC Avion Visa Infinite Business, or RBC Avion Visa Business cardholder (“RBC Avion Cardholder”), 55,000 Avion points can be redeemed for a round trip long-haul flight to Mexico, Hawaii or Alaska from Eastern Canada or the United States, and to Bermuda, Central America, Caribbean from Western Canada or the United States, with a maximum ticket price of $1,100. All applicable taxes, service fees and surcharges are the responsibility of the traveler. For more details, including information on redeeming for first class and business class seats, visit: https://www.avionrewards.com/travel/index.html(opens new window). If you are not an RBC Avion Cardholder, different redemption rates apply. Avion points can also be redeemed for travel, gift certificates/cards, brand name merchandise, and more. All rewards are subject to availability and may change without prior notice. For complete terms, conditions and restrictions that apply to the Avion Rewards program, please visit: www.avionrewards.com(opens new window) or call 1-800 ROYAL 1-2 (1-800-769-2512).