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Rates and fees

Curious about our fees? Get a complete list of our account and transaction fees, as well as fees for other services like wire transfers and stop payments.

View fees

Savings and chequing

Interest is calculated on the closing daily balance and is paid monthly.

Explore our savings accounts Explore our chequing account
No-fee chequing account
0.15%
High-interest savings account
2.10%
TFSA savings account
2.10%
RRSP savings account
2.10%
RRIF savings account
2.10%
2.10%
Contact us

Fixed rate mortgages*

On approved credit, rates are subject to change without notice. Quoted rates are based on blended payments of principal and interest. Interest is calculated half-yearly, not in advance. Additional premiums may apply in cases of a refinance, amortizations greater than 25 years, non-owner occupied, or other instances where application details may warrant it. The interest rate with variable rate mortgages will fluctuate with motusbank Prime Rate, which is currently 5.45%.

Explore our mortgages
Posted Rate
Special Rate
APR
6-month convertible fixed mortgage
4.25%
 
4.43%
Posted: 4.25%
APR: 4.43%
1-year fixed mortgage (open)
6.00%
 
 
Posted: 6.00%
1-year fixed mortgage
4.99%
 
5.10%
Posted: 4.99%
APR: 5.10%
2-year fixed mortgage
5.09%
 
5.14%
Posted: 5.09%
APR: 5.14%
3-year fixed mortgage
5.29%
 
5.33%
Posted: 5.29%
APR: 5.33%
4-year fixed mortgage
5.59%
 
5.62%
Posted: 5.59%
APR: 5.62%
5-year fixed mortgage
5.99%
5.29%
6.01%
Posted: 5.99%
Special: 5.29%
APR: 6.01%
5-year fixed mortgage (high ratio)
5.39%
5.39%
5.41%
Posted: 5.39%
Special: 5.39%
APR: 5.41%

Variable rate mortgages*

Posted Rate
Special Rate
APR
5-year variable mortgage (open)
6.95%
 
6.97%
Posted: 6.95%
APR: 6.97%
5-year variable mortgage
5.20%
 
5.22%
Posted: 5.20%
APR: 5.22%
5-year variable mortgage (high ratio)
5.20%
 
5.22%
Posted: 5.20%
APR: 5.22%
  • Mortgage rates

    On approved credit, rates are subject to change without notice. Quoted rates are based on blended payments of principal and interest. Interest is calculated half-yearly, not in advance. Additional premiums may apply in cases of a refinance, amortizations greater than 25 years, non-owner occupied, or other instances where application details may warrant it. The interest rate with variable rate mortgages will fluctuate with motusbank Prime Rate, which is currently 5.45%.

    Explore our mortgages
    6-month convertible fixed mortgage
    4.25%
     
    4.43%
    Posted: 4.25%
    APR: 4.43%
    1-year fixed mortgage (open)
    6.00%
     
     
    Posted: 6.00%
    1-year fixed mortgage
    4.99%
     
    5.10%
    Posted: 4.99%
    APR: 5.10%
    2-year fixed mortgage
    5.09%
     
    5.14%
    Posted: 5.09%
    APR: 5.14%
    3-year fixed mortgage
    5.29%
     
    5.33%
    Posted: 5.29%
    APR: 5.33%
    4-year fixed mortgage
    5.59%
     
    5.62%
    Posted: 5.59%
    APR: 5.62%
    5-year fixed mortgage
    5.99%
    5.29%
    6.01%
    Posted: 5.99%
    Special: 5.29%
    APR: 6.01%
    5-year fixed mortgage (high ratio)
    5.39%
    5.39%
    5.41%
    Posted: 5.39%
    Special: 5.39%
    APR: 5.41%

    Variable rate mortgages

    5-year variable mortgage (open)
    6.95%
     
    6.97%
    Posted: 6.95%
    APR: 6.97%
    5-year variable mortgage
    5.20%
     
    5.22%
    Posted: 5.20%
    APR: 5.22%
    5-year variable mortgage (high ratio)
    5.20%
     
    5.22%
    Posted: 5.20%
    APR: 5.22%

Home equity line of credit (HELOC)

The Home equity line of credit rate of 5.95% is based on the motusbank Prime Rate + 0.50%. Interest is calculated on a daily balance and charged monthly. Minimum payment equivalent to monthly interest charged.

Explore our HELOC
Secured home equity line of credit
Interest rate 5.95%
Interest rate 5.95% Apply Now

Prime Rate

Long term non-redeemable GICs

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
1-year fixed rate GIC
4.15%
4.15%
Open a GIC
3-year fixed rate GIC
4.60%
4.60%
Open a GIC
18-month GIC
4.20%
4-year fixed rate GIC
4.65%
4.65%
Open a GIC
2-year fixed rate GIC
4.40%
4.40%
Open a GIC
5-year fixed rate GIC
4.85%
4.85%
Open a GIC

Long term non-redeemable GICs (RRSP)

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
1-year RRSP GIC
4.20%
4.20%
Open a GIC
3-year RRSP GIC
4.65%
4.65%
Open a GIC
18-month RRSP GIC
4.25%
4.25%
Open a GIC
4-year RRSP GIC
4.70%
4.70%
Open a GIC
2-year RRSP GIC
4.45%
4.45%
Open a GIC
5-year RRSP GIC
4.90%
4.90%
Open a GIC

Long term non-redeemable GICs (TFSA)

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
1-year TFSA GIC
4.20%
4.20%
Open a GIC
3-year TFSA GIC
4.65%
4.65%
Open a GIC
18-month TFSA GIC
4.25%
4.25%
Open a GIC
4-year TFSA GIC
4.70%
4.70%
Open a GIC
2-year TFSA GIC
4.45%
4.45%
Open a GIC
5-year TFSA GIC
4.90%
4.90%
Open a GIC

Long term non-redeemable GICs (RRIF)

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
1-year RRIF GIC
4.20%
3-year RRIF GIC
4.65%
18-month RRIF GIC
4.25%
4-year RRIF GIC
4.70%
2-year RRIF GIC
4.45%
5-year RRIF GIC
4.90%

Escalator  GICs

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

motusbank’s 3 Year and 5 Year Escalator is cashable in whole or in part on its anniversary date and 30 days thereafter. At all other times this product is non-redeemable.

Explore GICs
3-year escalator RRSP GIC
3-year escalator RRSP GIC
Year 1
3.55%
Year 2
4.40%
Year 3
5.85%
Yield
4.60%
5-year escalator RRSP GIC
5-year escalator RRSP GIC
Year 1
4.00%
Year 2
4.40%
Year 3
4.60%
Year 4
5.00%
Year 5
6.25%
Yield
4.85%
3-year escalator TFSA GIC
3-year escalator TFSA GIC
Year 1
3.55%
Year 2
4.40%
Year 3
5.85%
Yield
4.60%
5-year escalator TFSA GIC
5-year escalator TFSA GIC
Year 1
4.00%
Year 2
4.40%
Year 3
4.60%
Year 4
5.00%
Year 5
6.25%
Yield
4.85%
3-year escalator RRIF GIC
3-year escalator RRIF GIC
Year 1
3.55%
Year 2
4.40%
Year 3
5.85%
Yield
4.60%
5-year escalator RRIF GIC
5-year escalator RRIF GIC
Year 1
4.00%
Year 2
4.40%
Year 3
4.60%
Year 4
5.00%
Year 5
6.25%
Yield
4.85%
Escalator GICs are redeemable on each anniversary date.

Short term non-redeemable GICs (RRSP)

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
30-day RRSP GIC
0.95%
0.95%
Open a GIC
180-day RRSP GIC
1.10%
1.10%
Open a GIC
60-day RRSP GIC
1.00%
1.00%
Open a GIC
270-day RRSP GIC
1.10%
1.10%
Open a GIC
90-day RRSP GIC
1.05%
1.05%
Open a GIC
  • Short term non-redeemable GICs (RRSP)

Short term non-redeemable GICs (TFSA)

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
30-day TFSA GIC
0.95%
0.95%
Open a GIC
180-day TFSA GIC
1.25%
1.25%
Open a GIC
60-day TFSA GIC
1.00%
1.00%
Open a GIC
270-day TFSA GIC
1.25%
1.25%
Open a GIC
90-day TFSA GIC
1.05%
1.05%
Open a GIC

Short term non-redeemable GICs

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
30-day GIC
0.95%
0.95%
Open a GIC
60-day GIC
1.00%
1.00%
Open a GIC
90-day GIC
1.05%
1.05%
Open a GIC
180-day GIC
1.05%
1.05%
Open a GIC
270-day GIC
1.05%
1.05%
Open a GIC

Short term non-redeemable GICs (RRIF)

Interest is calculated and accrued daily. To calculate the daily interest, we divide the annual interest by 365. We multiply that figure by the GIC book value to determine how much interest to accrue. Interest is paid on maturity for GICs that do not pay interest during their term.

Redemption is only permitted within the first 30 days and no interest is payable. Early redemption prior to maturity is not permitted after the first 30 days.

Explore GICs
30-day RRIF GIC
0.95%
180-day RRIF GIC
1.10%
60-day RRIF GIC
1.00%
270-day RRIF GIC
1.10%
90-day RRIF GIC
1.05%

Account and transaction fees

High-interest savings account transaction fee
$0.00
ATM - International transaction fee
$5.00
No-fee chequing transaction fee
$0.00
ATM - US transaction fee
$3.00
Cheques

(Transaction fee)

$0.00
ATM - Interac e-Transfer®

(transaction fee)

$2.00
Cheque Image with Paper Statement*

(free with online statements)

$1.50
Send Interac e-Transfer®

(Just for Savings accounts)

$1.25
Point of Sale transactions
$0.00
Receive Interac e-Transfer®
FREE
Foreign debit transaction surcharge
2.50%
Request Interac e-Transfer®

(For each fulfilled request)

$1.25
Record keeping*

(Paper statement monthly)

$2.00

*Students, Seniors (receiving Guaranteed Income Supplement (GIS) benefits), and Registered Disability Saving Plan (RDSP) beneficiaries are eligible to receive paper statements and cheque images at no cost. To confirm eligibility, please contact us at 1 (833) 696-6887 or email memberservice@motusbank.ca.

Other fees

Incoming wires
$10.00
Stop payment: partial details
$15.00
NSF fee
$45.00
Replacement debit card
$5.00
Accepted NSF

(Overdraft handling fee)

$5.00
Coverdraft
$2.00
Canadian Dollar (CAD) draft
$6.50
Bill payment trace
$10.00
Overdraft interest rate
21.00%
Post dated cheque held for deposit
$2.00
Closing account within 90 days of account opening
$25.00
Charge back

(Retail)

$0.00
Balance of account transfer
$15.00
Cheque sent on collection
$20.00
Inactive account fee

(Annualized fee)

$30/year
Stop payment: full details
$12.00
Cheque Order

(Additional orders starting at $53.45 plus applicable taxes)

First 25 free
Manual Transfer to Cover Overdraft
$5.00
Unencoded/Undomiciled Items
$5.00
Request for Account, Balance or Interest Letter
$16.00
Credit Rating to Other FI

(to and from)

$5.65
Duplicate T4 + T5 Information
$15.00
Search for Bank Records (per item)
$2.00
Search for Bank Records (per hour)

($15.00 minimum)

$30.00

Registered Plans

Registered balance transfer (full or partial) to another financial institution
$50.00
  • Registered Plans
    Registered balance transfer (full or partial) to another financial institution
    $50.00

Current Deposit Limits

Current Maximum Balance Limits

Total Demand Account Balance*
$500,000
Total Deposit Balance**
$2,000,000

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