Meridian Rate Scoop

Here are the latest rate changes from Meridian

Take control of your finances with the latest information on changes to Meridian’s posted rates.

The following rates are changing as of Friday, July 11th:

Mortgage Specials

3 Year Fixed Closed High Ratio

Current Rate: 4.19%
New Rate: 4.04%

5 Year Fixed Closed High Ratio

Current Rate: 4.14%
New Rate: 4.09%

Long Term Non-Redeemable GICs

1 Year Non-Redeemable

Current Rate: 3.35%
New Rate: 3.30%

18 Month Non-Redeemable

Current Rate: 3.40%
New Rate: 3.35%

2 Year Non-Redeemable

Current Rate: 3.45%
New Rate: 3.40%

4 Year Non-Redeemable

Current Rate: 3.55%
New Rate: 3.50%

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Class A Shares

Class A Shares are a unique and exclusive investment opportunity for Meridian Members. When you invest in Class A Shares, you invest in Meridian directly by strengthening our capital base. In return, you can earn a competitive minimum dividend rate that ranges from 4.00% to 6.50%* annually, with no minimum purchase required.

Class A Shares are available for purchase today. If you’re interested in purchasing Class A Shares, contact us to get started.

*Depending on the series, the dividend floor rate ranges from 4.00% to 6.50%. Dividends are not guaranteed.

On approved credit, rates are subject to change without notice. Quoted rate is based on blended payments of principal and interest and is the regulatory Annual Percentage Rate if there is no cost of borrowing other than interest. Interest is calculated half-yearly for fixed rates, and monthly for variable rates, not in advance. Additional premiums may apply in cases of extended amortizations, non-owner occupied, or other instances where application details may warrant it. The interest rate with variable rate mortgages will fluctuate with Meridian Prime Rate, which is currently 4.95%. Where applicable, the Bank of Canada qualifying rate is 5.25%. Builder's pricing applies to posted rates, not to promotional or special rates. For commercial mortgage rates, please speak to your Commercial Relationship Manager.

A High Ratio mortgage is applicable in cases where a borrower places a down payment of less than 20% when purchasing a residential property with a purchase price of under $1,500,000. The borrower must also be eligible for and purchase mortgage default insurance and meet all applicable conditions. Renewals 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 $1,500,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion. Mortgage Rates are applicable to Retail Members Only.

Non-Redeemable GIC:

GIC interest rates expressed are annual interest rates and current as of today’s date. Rates are subject to change without notice. Interest is calculated and accrued daily. Interest is paid at maturity unless otherwise specified. The minimum required investment is $100. Applicable to Retail and Business Banking Members.

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA). For more information, visit the FSRA website.