|Product Name||RBC Royal Bank Closed Variable Rate Mortgage|
|Available In||Canada (All Provinces)|
|Offered By||Royal Bank of Canada|
|Product Page||RBC Royal Bank Closed Variable Rate Mortgage|
|Rate||3.45% Rate Increased from 3.2% to 3.45% on January 18, 2018|
- 1 Year
- 3 Years
- 5 Years
- 10 Years
- All Data
|Term Length||5 years|
|Max Annual Lump Sum Prepayment||10%|
|Max Annual Increase to Regular Payments||10%|
|Payment Schedules||Available options include monthly, semi-monthly, bi-weekly, weekly, accelerated bi-weekly and accelerated weekly payments.|
|Additional Notes||It is possible to double the value of any regular mortgage payment at any time throghout the year and as many times as desired.
It is also possible, on most terms, to skip a mortgage payment once every twelve months so long as the mortgage is in good standing (other conditions apply as well).