Big-bank profile · National Bank of Canada
National Bank mortgages: rates, prepayment, penalties and HELOC
National Bank publishes fixed terms from three months to ten years, a 5-year variable at prime, and the All-In-One account, which combines a mortgage, a line of credit and day-to-day banking. Its penalty wording differs from the other five.
Bank pages checked October 31, 2026 · Independent guide, not affiliated with National Bank.
Mortgage products
- Fixed closed terms posted from 3 months to 10 years (including 6-, 7- and 10-year); open terms of 6 months and 1 year. Variable: a 60-month variable at Prime + 0.00%, adjusted monthly. [National Bank, checked Oct 31, 2026]
- Pre-approval protects the rate for 120 days. [National Bank, checked Oct 31, 2026]
- All-In-One: mortgage financing, line of credit and transaction account under one limit, with a fixed fee of $7 per month per account and unlimited transactions. [National Bank, checked Oct 31, 2026]
Posted and special rates
| Term | Rate | Type |
|---|---|---|
| 5-year fixed (closed) | 6.14% | Posted |
| 5-year fixed | 5.14% | Special / advertised |
| 5-year fixed, high ratio | 4.69% | Special / advertised |
| 3-year fixed (closed) | 6.09% | Posted |
| 1-year fixed (closed) | 5.49% | Posted |
| 5-year variable, Prime − 0.35% | 4.35% | Special / advertised |
| Variable (60-month), Prime + 0.00% | 4.70% | Posted |
National Bank showed Prime = 4.7%. [National Bank, checked Oct 31, 2026]
Posted rates are the bank’s list rates; most borrowers are offered a discount from them. The posted rate still matters after you sign, because the big banks use it in the IRD penalty. Read posted vs special rates, and score any quote on IsThisAGoodRate.ca.
Prepayment privileges
- During the same calendar year, repay up to 10% of the principal amount borrowed without fees, in one or more payments. [National Bank, checked Oct 31, 2026]
- On each payment date you can make an additional payment equal to or less than your regular payment (principal and interest). [National Bank, checked Oct 31, 2026]
Prepayment penalty
- Fixed rate: the higher of 3 months of interest or 1 month of interest (max. $500) plus the interest differential. [National Bank, checked Oct 31, 2026]
- Variable rate: 3 months of interest. [National Bank, checked Oct 31, 2026]
- The page does not describe which rate the interest differential is measured against; check your loan contract. [National Bank, checked Oct 31, 2026]
National Bank penalty calculator (uses National Bank’s posted rates) · National Bank’s own penalty page ↗
Portability
Not stated on the bank’s public pages we checked. Ask the bank directly.
HELOC and readvanceable: National Bank All-In-One
- The line-of-credit portion can finance up to 65% of the property’s value; with a mortgage, re-borrow repaid or unused principal up to 80% of the home’s value. [National Bank, checked Oct 31, 2026]
- National Bank’s example: with 20% down and a line covering 65% of the price, the loan portion finances the remaining 15%, and that repaid principal cannot be re-accessed. [National Bank, checked Oct 31, 2026]
Renewal
- Renew early up to 4 months before the end of your term with no penalty, or protect your rate from 6 months before the end of the term. [National Bank, checked Oct 31, 2026]
Other features worth knowing
- Cash-back offers must be partly repaid, pro rata, if the mortgage is prepaid, renegotiated, refinanced or transferred before the term ends. [National Bank, checked Oct 31, 2026]
National Bank’s 10% annual lump sum matches RBC’s as the lowest here, but the extra payment on every payment date adds room. Its penalty formula adds up to $500 on top of an interest differential, so ask for the exact comparison rate in writing. National Bank completed its acquisition of Canadian Western Bank in 2025; see CanadianBanks.ca for the institution details.
Official National Bank pages
- National Bank mortgage rates
- National Bank: pay off your mortgage faster (prepayment charges)
- National Bank All-In-One
- Institution profile (regulator, deposit insurance): National Bank on CanadianBanks.ca
National Bank mortgage questions
How is National Bank’s fixed-rate penalty different?
National Bank’s page states the fixed-rate charge as the higher of 3 months of interest or 1 month of interest (maximum $500) plus the interest differential. The other big banks state the greater of 3 months’ interest or an IRD.
What does the All-In-One cost?
National Bank lists a fixed fee of $7 per month per account, with unlimited transactions, for accounts integrated into the All-In-One.
Sources
- Mortgage rates — National Bank, checked Oct 31, 2026
- Pay off your mortgage faster (prepayment and charges) — National Bank, checked Oct 31, 2026
- All-In-One — National Bank, checked Oct 31, 2026
- Mortgage renewal — National Bank, checked Oct 31, 2026
Educational information only, not financial, legal or tax advice. BankMortgages.ca is independent and is not affiliated with, endorsed by or paid by any bank named on this site. Bank terms change: confirm every rate and term with the lender and the official sources linked on each page before you act. Read the full disclaimer.
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Last checked October 31, 2026. Spot something out of date? Tell us at hello@mitey.ca.