Rates

Promotional Rates*

Fixed Rate Mortgages – Closed (Rates effective 2021-11-19) Rates
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3-Year Fixed Closed - High Ratio Only 2.49%
5-Year Fixed Closed - High Ratio Only 2.59%
5-Year Fixed Closed – Conventional 2.74%
Variable Rate Mortgages – Closed (Rates effective 2021-11-19) Rates
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5-Year Variable Closed - High Ratio Only 1.45%
*Fixed high ratio promo and fixed special rates are discounted rates from the posted rates. If a mortgage product is not listed with high ratio promo or special rates, the posted rate will apply.

Special Rates

Special*

Fixed Rate Mortgages – Closed (Rates effective 2021-11-19) Rates
1-Year Fixed Closed 2.69%
2-Year Fixed Closed 2.69%
3-Year Fixed Closed 2.79%
4-Year Fixed Closed 2.79%
5-Year Fixed Closed 2.89%
Variable Rate Mortgages - Closed (Rates effective 2021-11-19) Rates
3-Year Variable Closed 1.80%
5-Year Variable Closed 1.70%
*Fixed high ratio promo and fixed special rates are discounted rates from the posted rates. If a mortgage product is not listed with high ratio promo or special rates, the posted rate will apply.
Fixed Rate Mortgages – ClosedSpecial promotional rate may be changed or withdrawn at any time without notice. Cannot be combined with any other offer or discount. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate posted. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Applies to owner-occupied residential properties only. Some conditions apply. Subject to credit approval.
3 Year Fixed Rate Closed Mortgage - High Ratio Only - 2.49%
Special promotional rate may be changed or withdrawn at any time without notice. Applicable for a High Ratio Mortgage with 25 year amortization period for members with less than 20% down payment, purchasing a residential property valued at under $1,000,000 or subsequent renewing of such a loan, who are eligible for and purchase mortgage default insurance and meet other conditions. This promotional rate is also available for members switching their existing High-Ratio Mortgage, which has the lesser of 25 year amortization period or the remaining amortization of the mortgage to be switched, with less than 20% down payment from another financial institution with a mortgage default insurance to Alterna, for a residential property with an original purchase price under $1,000,000  who also meet other conditions. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 2.49% Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only.
5 Year Fixed Rate Closed Mortgage - High Ratio Only – 2.59%
Special promotional rate may be changed or withdrawn at any time without notice. Applicable for a High Ratio Mortgage with 25 year amortization period for members with less than 20% down payment, purchasing a residential property valued at under $1,000,000 or subsequent renewing of such a loan, who are eligible for and purchase mortgage default insurance and meet other conditions. This promotional rate is also available for members switching their existing High-Ratio Mortgage, which has the lesser of 25 year amortization period or the remaining amortization of the mortgage to be switched, with less than 20% down payment from another financial institution with a mortgage default insurance to Alterna, for a residential property with an original purchase price under $1,000,000  who also meet other conditions. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 2.59%. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only.
5 Year Variable Rate Closed Mortgage High Ratio Only - 1.45% (Prime-1.00%)
Special promotional rate may be changed or withdrawn at any time without notice. Applicable for a High Ratio Mortgage with 25 year amortization period for members with less than 20% down payment, purchasing a residential property valued at under $1,000,000 or subsequent renewing of such a loan, who are eligible for and purchase mortgage default insurance and meet other conditions. This promotional rate is also available for members switching their existing High-Ratio Mortgage , which has the lesser of 25 year amortization period or the remaining amortization of the mortgage to be switched, with less than 20% down payment from another financial institution with a mortgage default insurance to Alterna, for a residential property with an original purchase price under $1,000,000  who also meet other conditions. Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 1.45% (Prime -1.00%). Prime refers to the Alterna Prime Rate. Alterna Prime Rate is 2.45% as of October 4, 2021. Your interest rate will change whenever the Alterna Prime rate changes.  Rates calculated monthlynot in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only.
5 Year Fixed Rate Closed Mortgage – Conventional - 2.74%
*Fixed high ratio promo and fixed special rates are discounted rates from the posted rates. If a mortgage product is not listed with high ratio promo or special rates, the posted rate will apply.
Special promotional rate may be changed or withdrawn at any time without notice. Applicable for new purchases and switches from other financial institutions only. Purchase price less than $1,000,000 and a loan to value under 80%. The amortization must be 25 years, or less. The mortgage to be switched is to have an amortization based on the lesser of 25 years or the same remaining amortization of the mortgage being switched and have an original purchase price under $1,000,000Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 2.74%. Rates calculated semi-annually not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000. Blends and refinances are not eligible. Applies to owner-occupied primary residential properties only.

3 Year Variable Rate Closed Mortgage Conventional - 1.80% - (Prime-0.65%)
Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 1.80% (Prime -0.65%). Prime refers to the Alterna Prime Rate. Alterna Prime Rate is 2.45% as of October 4, 2021. Your interest rate will change whenever the Alterna Prime rate changes. Rates calculated monthly not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000.
5 Year Variable Rate Closed Mortgage Conventional - 1.70% - (Prime-0.75%)
Assuming no additional fees are charged, the Annual Percentage Rate (APR) is the same as the interest rate 1.70% (Prime -0.75%). Prime refers to the Alterna Prime Rate. Alterna Prime Rate is 2.45% as of October 4, 2021. Your interest rate will change whenever the Alterna Prime rate changes. Rates calculated monthly not in advance. Funds must be advanced within 120 days of application. Subject to credit approval based on Alterna’s lending guidelines. Mortgage incentives of up to $1,000.
Term Deposit Promo (Rates effective 2021-03-23) Rates
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60 Day Term Deposit 0.20%
14 Month Term Deposit 0.75%
30 Month Term Deposit 0.85%
60 Day Term Deposit
Special promotional rate may be changed or withdrawn at any time without notice. Available for new deposits only or new registered contributions which can include existing funds on deposit. Existing term deposits cannot be broken to receive this offer. Simple interest calculated on the principal amount for the number of days in the term deposit and paid at maturity (principal x rate x number of days / 365 days). Rate shown for annual interest. Minimum investment $500; Maximum investment $500,000. Cashable upon maturity only. Available to personal accounts only.

14 Month Term Deposit, 30 Month Term Deposit
Special promotional rate may be changed or withdrawn at any time without notice. Existing term deposits cannot be broken to receive this offer. Rate shown for annual interest. Annual compound interest paid monthly or annually. Minimum investment $500; Maximum investment $500,000. Cashable upon maturity only. Available to personal and non-personal accounts.