RateCapper^® Mortgage

Want the security of a fixed rate mortgage with a set monthly payment and the savings potential of a variable rate mortgage?

Our 5-Year RateCapper mortgage offers you the best of both worlds. It has a variable interest rate with a closed 5-year term. That means you can take advantage of today's low prime rate, while enjoying peace of mind knowing that for 5 full years you'll never pay more than a maximum "capped" rate, no matter how high the prime interest rate may rise. What's more, if rates go down your payment amount stays the same but a larger portion of your payment will be applied towards your outstanding principal.

Rate(s)† Term(s) 4.50% Prime Rate 5 Year 7.75% RateCapper Maximum Rate Perfect for First Time Home Buyers, Repeat Purchasers & Renewers The Benefits Pay less in interest costs when rates are low knowing you are protected from rate increases with a "capped" rate.

Illustrating the Point

With our RateCapper mortgage, the interest you pay fluctuates as prime rises and falls, but will never exceed your capped rate.

1. RBC Royal Bank's prime rate fluctuates according to market conditions.
2. Your maximum "capped" rate, represents the highest rate you will pay during the 5-year term of the mortgage.
3. If RBC Royal Bank's prime rate drops below your RateCapper mortgage maximum, your interest rate also drops. Your payment stays the same.

Mortgage Features

We have many mortgage options designed to help save interest costs and meet your personal financial requirements.

• Pay Down Your Mortgage Faster. Reduce the number of years it takes to pay off your mortgage and enjoy substantial savings by Increasing Your Monthly Payments, Making Double-Up^® Payments, Accelerating Your Payment Schedule, Making Principal Prepayments and more!
• Flexible Payment Options. You'll enjoy the comfort of knowing you're protected with our Interest Rate Protection and Skip-A-Payment^®.

We're Committed to You

Whether you're buying a new home, renewing, or transferring your mortgage, we can offer you real savings and real choice. Contact a mortgage specialist today!

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^† Interest rate is compounded monthly, not in advance. This rate may change at any time without notice. Royal Bank of Canada prime rate is an annual variable rate of interest announced by it from time to time as its prime rate.

Applicable to residential mortgages only and subject to Royal Bank of Canada lending criteria for residential properties.