Current Interest Rates
HomeEquity Bank Prime Rate: 3.95% For Québec: click here to download HomeEquity Bank's current rate sheet. For all provinces outside Québec: The following is a summary of the current CHIP Max interest rates and terms offered by HomeEquity Bank.
| term | interest rate | closing and administrative costs | Annual Percentage Rate (APR)1 |
|---|---|---|---|
| Variable2 | 6.94% | $1,795 | 7.25% |
| 6 Month | 6.74% | 7.04% | |
| 1 Year | 6.49% | 6.78% | |
| 3 Years | 6.79% | 7.09% | |
| 5 Years | 6.89% | 7.19% |
CHIP Max is only available in certain locations and is subject to meeting HomeEquity Bank’s credit granting criteria. These fees and interest rates may vary based on individual circumstances, including any additional rate premiums added on your file. 1 APR is the estimated cost of borrowing for 5 years expressed as an annual percentage. It is based on a mortgage of $150,000 and includes the applicable closing costs. 2 Variable refers to the HomeEquity Bank Prime Rate plus a fixed spread of 2.99%. The fixed spread is guaranteed for 5 years.