National Bank of Canada mortgage calculator
Estimate the payment on a National Bank of Canada mortgage at the rate on your quote, then check National Bank's own published rules for prepaying, porting and breaking the mortgage. Independent tool — not affiliated with National Bank.
Your scenario
Result
The starting rate of 4.84% is illustrative, not a National Bank rate — enter the rate on your own quote. Mortgage360 is an independent platform, NOT affiliated with National Bank of Canada.
Rules checked: September 2026. Sources: National Bank: prepayment and indemnities guide (PDF) · National Bank: pay your mortgage faster · National Bank: about us
About National Bank of Canada
National Bank describes itself as one of the six largest banks in Canada and the leading bank in Quebec.
National Bank prepayment privileges
National Bank lets you prepay up to 10% of the initial principal each calendar year, and add an extra amount of up to one time your regular payment — in effect, doubling a payment. Model what a lump sum does to your amortization in the prepayment savings calculator.
Porting a National Bank mortgage
National Bank's own pages we reviewed do not set out its porting rules; ask for them in writing.
How National Bank calculates the penalty to break
Fixed: the greater of three months' interest or an interest differential based on the difference between the posted rate at the start of your term and National Bank's current published rate for the remaining term. Variable: three months' interest. Its prepayment guide sets out the exact formula. Estimate the difference between the two methods in the mortgage penalty calculator.
What that means for you
National Bank's 10% lump sum is modest, but the ability to double a payment gives a steady path to paying down faster. Read the prepayment guide's IRD formula before signing a fixed term you might break.
How this calculator works
Canadian fixed-rate mortgages state their rate compounded semi-annually, not in advance — the convention that follows from section 6 of the federal Interest Act. The calculator converts the rate you enter into the equivalent rate for your payment frequency, so monthly, bi-weekly and weekly results stay consistent. Accelerated bi-weekly pays half the monthly amount every two weeks, which adds the equivalent of one extra monthly payment a year.
Sources
- National Bank: prepayment and indemnities guide (PDF)
- National Bank: pay your mortgage faster
- National Bank: about us
Checked September 2026. Lenders change their terms; your commitment letter is what binds you.
Compare with other lenders
Prepayment and penalty rules differ more between lenders than rates do. Compare the published terms of other Canadian lenders:
- TD Canada Trust mortgage calculator
- RBC Royal Bank mortgage calculator
- Scotiabank mortgage calculator
- BMO Bank of Montreal mortgage calculator
- CIBC mortgage calculator
- First National Financial mortgage calculator
- MCAP mortgage calculator
- Merix Financial mortgage calculator
- Manulife Bank mortgage calculator
- Desjardins mortgage calculator
Renewing or refinancing with National Bank?
A renewal offer is usually negotiable, and since November 2024 a straight switch to another lender at renewal no longer requires passing the stress test again. Put the offer against a competing quote in the renewal comparison calculator.
Mortgage agent or broker? Calculators like this one embed on the website you already have, and Mortgage360 campaign landing pages capture the enquiries they start straight into your CRM.