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​Rates

 

Digital Rates *

eChequing and eSavings

List of rates for NO FEE ECHEQUING ACCOUNT
NO FEE ECHEQUING ACCOUNT Rate
All Balances
0.05
List of rates for HIGH INTEREST ESAVINGS ACCOUNT
HIGH INTEREST ESAVINGS ACCOUNT Rate
All Balances
0.90
List of rates for TFSA ESAVINGS ACCOUNT
TFSA ESAVINGS ACCOUNT Rate
All Balances
0.90
List of rates for RRSP eSavings
RRSP eSavings Rate
All Balances
0.90

Interest rate is annualized and subject to change without notice. Interest is calculated daily on the closing balance and paid monthly. Rates are only available for purchase online. 

For accounts opened before May 1, 2017, the maximum balance per customer is $1,000,000 (plus accrued interest). For accounts opened on or after May 1, 2017 the maximum balance per customer is $250,000 (plus accrued interest).​

Due to local and proxy caching on the Internet, please ensure that you are viewing rates as at the current day's date.

Only eligible deposits held in Canadian currency, having a term of five years or less and payable in Canada are insurable under the Canada Deposit Insurance Corporation Act.


Mortgage Rates

List of rates for PRIME RATE
PRIME RATE Rate
Alterna Prime Rate
3.20

Special Rates - Special*

List of rates for Special Fixed Rate Mortgages Closed e-Rates
Special Fixed Rate Mortgages Closed e-Rates Rate
1-Year Fixed Closed
3.99
2-Year Fixed Closed
3.99
3-Year Fixed Closed
4.09
4-Year Fixed Closed
4.09
5-Year Fixed Closed
4.14
3-Year Variable Closed
2.49
5-Year Variable Closed
2.55
List of rates for Fixed Rate e-Mortgages - Posted
Fixed Rate e-Mortgages - Posted Rate
1-Year Fixed Closed
4.14
2-Year Fixed Closed
4.14
3-Year Fixed Closed
4.24
4-Year Fixed Closed
4.24
5-Year Fixed Closed
5.19
7-Year Fixed Closed
6.25
10-Year Fixed Closed
6.65
List of rates for VARIABLE RATE E-MORTGAGES - POSTED
VARIABLE RATE E-MORTGAGES - POSTED Rate
3-Year Variable Closed
4.30
5-Year Variable Closed
3.70

Prime Rate

  • Prime refers to the Alterna Prime Rate. Alterna Prime Rate is 3.20% as of April 15, 2022. Your interest rate will change whenever the Alterna Prime rate changes. As a valued client of Alterna Bank, we would like to keep you informed about changes that may affect you. On April 15, 2022 the Bank of Canada key interest rate increased by 0.50% - which in turn has increased Alterna Bank’s Prime Interest Rate to 3,20% from 2.70%. If you hold a variable rate lending product with Alterna Bank such as a mortgage, line of credit or loan your payment amount will not change, however, a higher portion of your payment will be applied towards your principal.

Special e-Rates

*Special 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 displayed. 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 may be granted, subject to conditions. Applies to owner-occupied primary residential properties only.

Fixed Mortgage Rates

Note: The cost of default insurance is subject to change if the purchase price or appraised value, the amount of down payment or the amortization changes. The final premium and the cost of your mortgage default insurance will be disclosed in your mortgage commitment/loan document. 

Digital Posted Fixed Mortgages Rate

  • 1, 2, 3, 4, 5, 7, 10 Year Fixed Closed: Posted 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 displayed. 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 may be granted, subject to conditions. Applies to owner-occupied primary residential properties only.

Digital Posted Variable Mortgage Rate

  • 3 & 5 Year Variable: Rates calculated monthly not in advance. Mortgage prepayment limited to 20% of the original mortgage principal balance.
  • Maximum Amortization of 25 years. Maximum property value of $1,000,000. Applies to owner-occupied residential properties only. Some conditions apply. Due to local and proxy caching on the Internet, please ensure that you are viewing rates as at the current day's date.

Special promotional rates may be changed or withdrawn at any time without notice. Due to local and proxy caching on the Internet, please ensure that you are viewing rates as at the current day's date. Rates available for online mortgages only. Rates are subject to change without notice and are for information only.

Registered Plans

List of rates for RRSP eSavings
RRSP eSavings Rate
All Balances
0.90
List of rates for TFSA ESAVINGS ACCOUNT
TFSA ESAVINGS ACCOUNT Rate
All Balances
0.90
List of rates for ETERM DEPOSIT ANNUAL INTEREST
ETERM DEPOSIT ANNUAL INTEREST Rate
1 Year
3.00
2 Year
3.50
3 Year
3.65
4 Year
3.75
5 Year
4.00

Interest rate is annualized and subject to change without notice. Interest is calculated daily on the closing balance and paid monthly. Rates are only available for purchase online. 

For accounts opened before May 1, 2017, the maximum balance per customer is $1,000,000 (plus accrued interest). For accounts opened on or after May 1, 2017 the maximum balance per customer is $250,000 (plus accrued interest).​

Due to local and proxy caching on the Internet, please ensure that you are viewing rates as at the current day's date.

eTerm Deposits

 Annual compound interest paid monthly or annually eTerm deposits are only available for purchase through online banking

  • 1, 2, 3, 4 and 5 Years: Interest rates are subject to change withdrawn at any time without notice.  Existing term deposits cannot be broken to receive this offer. Rate shown for annual interest. Maximum investment $500,000. Cashable upon maturity only. Available to personal and non-personal accounts. Due to local and proxy caching on the Internet, please ensure that you are viewing rates as at the current day's date.

Only eligible deposits held in Canadian currency, having a term of five years or less and payable in Canada are insurable under the Canada Deposit Insurance Corporation Act.

eTerm Deposit Rates

List of rates for ETERM DEPOSIT ANNUAL INTEREST
ETERM DEPOSIT ANNUAL INTEREST Rate
1 Year
3.00
2 Year
3.50
3 Year
3.65
4 Year
3.75
5 Year
4.00

eTerm Deposits 

Annual compound interest paid monthly or annually eTerm deposits are only available for purchase through online banking

  • 1, 2, 3, 4 and 5 Years: 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. Maximum investment $500,000. Cashable upon maturity only. Available to personal and non-personal accounts. Due to local and proxy caching on the Internet, please ensure that you are viewing rates as at the current day's date. 

 

                      * Don’t see your rates? Click here

                      **  Not available to residents of Quebec. Please contact us for more details 

 

CS Alterna Bank is a member of Canada Deposit Insurance Corporation (CDIC). For more information, watch video.