1) Some restrictions apply.
2) Subject to credit approval.
You are on: How Renewal Works
Renewing your RBC Royal Bank mortgage is simple! Here's how it works and a quick summary of some things you can do to make it even easier:
If you're close to renewal, now is a great time to review your financial goals and your plans for the future. You might want to consider the following types of questions:
We'll contact you about 120 days out from your renewal date to discuss your current mortgage needs. (You can also call or visit us.) You can renew early at this point (or any time up to your renewal date), or you can wait and consider your options.
If you renew early, you'll be able to lock in at current interest rates even sooner - which could save you thousands of dollars in interest if rates rise before your renewal date.
About three weeks before your renewal date, we'll send you a renewal letter in the mail. If you have questions about your renewal rate and term, you can give us a call or visit your branch. Otherwise, all you need to do is review your renewal documents, select your renewal option, and sign and return the documents to us before your renewal date.
When you renew your RBC Royal Bank mortgage at maturity, you are protected from an increase in interest rates, for the interest type and term you selected, in the 30-day period prior to your regularly scheduled renewal date. And, if the interest rate changes before your actual mortgage renewal date, you'll automatically receive the lower rate for the term and type you chose.
It's that simple!
You are on: Featured Rates
When you renew, there are a variety of mortgages with varying terms and rate types to choose from. Whether you are looking for the security of a fixed rate term, or the potential savings of a variable rate term, we offer a wide range of mortgage terms at competitive rates. Visit our Mortgage Rates page to review the current interest rate offerings.
Whether you decide to take advantage of early renewal or you wait to renew closer to your actual mortgage renewal date, you can rest easy knowing that you'll receive a competitive rate for the mortgage term you select for your mortgage renewal.
Talk to a Royal Direct® representative by phone, 24 hours a day, 7 days a week to renew your mortgage with RBC Royal Bank. They can help explain your options, offer advice, and lock in a competitive rate for your mortgage renewal.
Call us or visit your branch to explore your options and lock in a competitive rate for your mortgage renewal.
We make it easy to switch your mortgage to RBC Royal Bank.