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RBC Cash Back Mortgage

You are on: Features and Benefits

The RBC Cash Back Mortgage could be ideal if you are a first-time home buyer with a minimum down payment of 5% (a higher down payment percentage may be required depending on the purchase price).

How Much Cash Can You Get?

The amount of money you receive is based on the size and term of your mortgage-up to 7% of its value up to a maximum of $20,000. For illustration purposes, the following chart shows how much you can get based on different cash back levels:

How Much Cash Can You Get?
On a Mortgage of 4% Cash Back 5% Cash Back 7% Cash Back
$100,000 $4,000 $5,000 $7,000
$200,000 $8,000 $10,000 $14,000
$400,000 $16,000 $20,000 $20,000(27)

When Do You Get Your Payment?

Your cash back is paid on the date your mortgage is advanced-just in time to help you cover immediate expenses, expected or otherwise! The money you receive is yours to keep so long as you hold your mortgage to the end of its negotiated term.

You are on: Payment Options

Select Your Payment Schedule

When you first set up your mortgage, you can choose from several payment options, including monthly, semi-monthly, bi-weekly, weekly, accelerated bi-weekly and accelerated weekly payments.


Choose Your Amortization Period

At RBC Royal Bank, you can select an amortization period between 5 and 30 years. This is the length of time it will take to pay off your mortgage if the interest rate does not change.


Pay Down Your Mortgage Faster

You can also reduce the number of years it takes to pay off your mortgage and enjoy substantial savings by:


Enjoy Other Flexible Payment Options

If you ever need to free up cash for another purpose, you can also skip a mortgage payment once every 12 months:

You are on: Rates and Terms

Fixed(1) Closed Term Mortgage Rates

The RBC Cash Back Mortgage is available on fixed rate closed term mortgages with terms of 1 to 10 years(27).

Fixed Rate Closed Term Mortgage Rates
Term Posted Rate Special Offers(2)
4 Year
5 Year
7 Year

Learn More


1. Interest rates are annual rates and are compounded half-yearly, not in advance. Interest rates are subject to change without notice at any time.

2. Rates shown for the applicable term are Royal Bank of Canada's special discounted rates and are not the posted rates of Royal Bank of Canada. To calculate a rate discount compare the rate noted above against the posted rate.

The annual percentage rate (APR) is based on a $100,000 mortgage for the applicable term assuming certain cost of borrowing charges (for example, appraisal fees). If there are no cost of borrowing charges, the APR and the interest rate will be the same.

For mortgages approved on or before funds must be advanced within 90 days of date of application in order to qualify for the Special Offer rate. Offer may be changed, withdrawn or extended at any time, without notice.

Applicable to residential mortgages only and subject to Royal Bank of Canada lending criteria for residential properties. Some conditions apply. Offer may be changed, withdrawn or extended at any time, without notice.


Start Your Online Mortgage Pre-Approval

Lock your rate and know exactly how much home you can afford. Start your pre-approval online and an RBC® mortgage specialist will be in touch within 24 hours to help you complete your pre-approval application.

Start Your Pre-Approval