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RBC Mortgage Calculator

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Estimate your monthly RBC mortgage payment at current rates. Free, no signup.

fin·calc is an independent, unaffiliated calculator — not endorsed by, sponsored by, or affiliated with RBC. "RBC" is used only to describe typical rates and terms; confirm actual terms directly with the bank.

$
%
yrs
Your monthly payment$2,851
Principal$500,000
Total interest$355,176
Total$855,176
Calculated live on this page. Open the full tool →

RBC mortgage rate

LenderTypical rateMax term
RBC4.75% p.a.up to 25 years

BoC ~2.25%; 5-yr fixed. Your rate depends on your profile and deposit — verify with the bank.

Worked example

Example: C$500,000 RBC mortgage at 4.75% for 25 years.

Frequently Asked Questions

What is the RBC mortgage rate?

RBC mortgage rates are around 4.75% p.a. as a 2026 reference. BoC ~2.25%; 5-yr fixed. Your exact rate depends on your profile and deposit.

How is the RBC monthly payment calculated?

Using the reducing-balance formula on the financed amount. Enter your amount, rate and term in the calculator above.

How much deposit do I need?

A larger deposit lowers your rate and total cost. Most lenders also add valuation, legal and registration fees on top of the deposit.

Can I reduce the total cost?

Yes — a bigger deposit, shorter term, and extra/early repayments all cut total interest. Check for any early-repayment charges first.

RBC Mortgage Rates: What's Current

As of September 2026, RBC Royal Bank posts a 5-year fixed closed mortgage rate of 6.09% (APR 6.12%), but its advertised special/discounted rate for well-qualified borrowers sits at 4.89%. RBC's 5-year variable closed rate is quoted at 4.45% (RBC Prime + 0%), with a higher-ratio insured option available near 3.65%. These sit against the Bank of Canada's overnight policy rate, held at 2.25% at its September 2, 2026 announcement.

Worked Example: RBC 5-Year Special Fixed Rate

$500,000 at 4.89% over 25 years (300 payments): r = 0.0489/12 = 0.0040750, (1+r)300 ≈ 3.387242.

M ≈ $2,891.00 per month. Total payments ≈ $867,300; interest ≈ $367,300.

Frequently Asked Questions

What is RBC's current 5-year fixed mortgage rate?

As of September 2026, RBC's posted 5-year fixed closed rate is 6.09%, while its advertised special rate for qualifying borrowers is 4.89%. Always confirm the live rate directly with RBC.

How does the Bank of Canada rate affect RBC's mortgage pricing?

RBC's Prime Rate moves in step with the Bank of Canada's overnight rate, held at 2.25% on September 2, 2026. Prime Rate drives RBC's variable mortgage pricing directly, while fixed rates track bond yields.

Is RBC's variable or fixed rate cheaper right now?

As of September 2026, RBC's discounted variable rate (around 3.65% for eligible high-ratio borrowers) is lower than its special fixed rate (4.89%).

RBC's own mortgage structure: the Homeline Plan

RBC's equity-borrowing product is the RBC Homeline Plan, which registers your mortgage as a collateral charge and bundles it with the readvanceable Royal Credit Line, so both draw against the same registered security on your home. Together the mortgage and credit line can reach up to 80% of your home's appraised value at setup, but the Royal Credit Line portion on its own is permanently capped at 65% of the home's appraised value at the time you applied. As you pay down the mortgage principal, your home equity grows and the credit line's available room grows with it (up to that 65% ceiling), so you can re-borrow later — for renovations, a child's education, or debt consolidation — without re-applying for a brand-new loan, typically at RBC's variable lending rate rather than a higher unsecured rate.

How much of an RBC mortgage you can prepay without a penalty

On a closed RBC mortgage, RBC's own site confirms you can make a lump-sum prepayment of up to 10% of the original principal amount once every 12 months, applied directly against principal, plus a separate "Double-Up" feature that lets you double up a scheduled principal-and-interest payment whenever you like. Open RBC mortgages allow prepayments of $500 or more as often as you want, and at renewal you can prepay any amount with no charge. For a prepayment charge on a closed mortgage, RBC calculates it differently by rate type: on a fixed-rate mortgage the charge is the greater of three months' interest or the interest rate differential (IRD) on the amount prepaid; on a variable-rate mortgage it's simply three months' interest on the amount prepaid — no IRD applies, which is one reason variable mortgages are often cheaper to break early.

Qualifying for an RBC mortgage: the stress test and CMHC insurance

Like every federally regulated bank, RBC must qualify uninsured mortgage borrowers at OSFI's minimum qualifying rate — the greater of the contract rate plus 2%, or a floor OSFI currently sets at 5.25%, revisited at least annually. Applied to the $500,000, 4.89% RBC special-rate example above, that gives a qualifying rate of 4.89% + 2% = 6.89% (above the 5.25% floor), meaning RBC has to check you could still afford the payment at 6.89% before approving the mortgage — even though you'd actually be paying 4.89%.

Borrowers putting down less than 20% also need mortgage default insurance, most commonly from CMHC, whose premium is a percentage of the loan amount that rises with loan-to-value: 0.60% up to 65% LTV, 1.70% for 65.01–75%, 2.40% for 75.01–80%, 2.80% for 80.01–85%, 3.10% for 85.01–90%, and 4.00% for 90.01–95% (4.50% with a non-traditional down payment). For example, a $500,000 home bought with a $50,000 (10%) down payment needs a $450,000 mortgage at 90% LTV, so the premium is 3.10% of $450,000 — about $13,950, which RBC typically adds to the mortgage balance rather than collecting upfront (Ontario, Quebec and Saskatchewan add provincial sales tax on the premium itself, payable in cash).

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Written by Sheryar, founder of fin·calc. Rates verified against the sources below.

Sources

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