Fixed-Rate Mortgage

A Fixed-Rate Mortgage1 is ideal if you want to protect yourself from interest rates that may rise over the long term. For greater flexibility, you can choose from a range of terms and amortization periods.

What's in it for you

  • Wide range of terms
    • Open: 6 months, 1 year
    • Closed: 3 months, 6 months, 1 year, 2 years, 3 years, 4 years, 5 years, 7 years, 10 years.
  • The rate will not change during the chosen term.
  • Multi-Choice Option: divide your mortgage into easily-managed portions.
  • Revolving clause: reborrow against your repaid principal.

Take advantage of three prepayment options

These three prepayment options, available at no additional charge or penalty, can save you a lot in interest costs. The amount you pay is applied directly to the principal, thereby reducing the length of your mortgage and the amount of interest you'll have to pay.

  • Make additional payments totaling 10% of principal
    Over the course of each calendar year2 you can make one or more additional payments totaling up to 10% of the initial principal.
  • Make an additional payment each payment date
    On any regular payment date, you can make an additional principal payment up to the amount of your current payment (including principal and interest).
  • Increase the size of your payment
    Once each calendar year, you can increase the size of your regular payment by up to twice the original payment amount. The new amount remains in effect for the remainder of the term.

Opt for comprehensive coverage 3

If you wish, you can add Loan insurance (life, critical illness4 and disability insurance) to your mortgage. For your convenience, the premiums are debited automatically from your account.

View our current rates


1 Subject to credit approval by National Bank of Canada. Some conditions apply.
2 Accrued interest will be calculated if the payment is not made on the regular payment date.
3 Certain conditions apply, particularly regarding eligibility.
4 This coverage is valid only in the event of an initial diagnosis of one of the following three conditions: cancer, stroke or heart attack (subject to certain exceptions) and is only offered to clients with life insurance from National Bank Insurance. This insurance is available only for National Bank mortgage loans and covers loan balances up to $500,000.