*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.
1On 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.
2A 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.
3Interest rates shown are subject to change without notice and are on a per annum basis. Interest is calculated on the closing daily balance and is paid on the last day of each month.
