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Terms and conditions for motusbank TFSA Savings Account Bonus Interest Rate Offer

APR Disclosure:

1 Year Posted 3.69% = 3.80% APR

2 Year Posted 3.89% = 3.94% APR

3 Year Posted 4.09% = 4.13% APR

4 Year Posted 4.29% = 4.32% APR 

5 Year Posted 4.99% = 5.01% APR

5 Year Special 4.29% = 4.31% (High Ratio and Fixed Closed) APR

The Annual Percentage Rate (APR) is based on a $300,000 mortgage, 25 year amortization, for the applicable term and the fee to obtain a property appraisal of $325 (fees vary from $0 to $455). If there are no fees, the APR and interest rate will be the same. APR is rounded to two decimal places.

Terms and Conditions

HISA:

Interest is calculated on the closing daily balance and is paid monthly. Rates are provided for information purposes only and are subject to change at any time.
 
Mortgage:

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 3.20%. Where applicable, the Bank of Canada qualifying rate is 5.25%. Builder's pricing applies to posted rates, not to promotional or special rates.

A High Ratio mortgage applies when you have a down payment of less than 20% to put toward the purchase of a home. Refinances, renewals and amortization periods of greater than 25 years are ineligible.
 

Motus BankTM (‘motusbank’) is a member of the Canada Deposit Insurance Corporation (CDIC).