Mortgage Prepayment Calculator

Our Mortgage Prepayment Penalty Calculator will estimate how much it could cost you to prepay your mortgage in part or in full. To get the most accurate estimate, you’ll need to enter details about your current mortgage.



  • This prepayment penalty charge is an estimate only.  For actual prepayment charge please call our Contact Centre at 1.888.517.7000.
  • This estimate is valid for today only.
  • This calculator is not applicable to open-term mortgages or mortgages that were issued prior to November 1st, 2018.
  • This calculation does not take into account any prepayments you have made or plan to make.
  • Any annual prepayment privilege exercised within 30 days of full payout will be added back for the purposes of calculating the penalty.
  • If paying your mortgage in full you may also be subject to a $75 discharge fee.
  • For variable rate mortgages the prepayment charge calculation is based on 90 days interest based on the interest rate on the day of prepayment.
  • For fixed rate mortgages the prepayment charge is the higher of 90 days interest calculated at the applicable fixed interest rate at the time of prepayment, or an amount calculated using interest rate differential (IRD). If the term is greater than five years, and you prepay after the fifth year of the term, the prepayment charge is equal to 90 days interest .The interest rate differential is the difference between your existing mortgage interest rate and our current posted rate charged for the mortgage similar to yours for the remaining term of the mortgage, less any rate discount you may have received.

These calculators are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only.

Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.