Use this calculator to estimate prepayment charges for an NBC Optimum Alternative Mortgage. The calculation applies to all new National Bank mortgage loan agreements signed including new financing, refinances, renewals or renegotiations.

Is your prepayment total or partial?

Does your loan have a fixed or variable rate?

Indicate the type of mortgage loan according to the interest adjustment frequency. This information is provided in your loan agreement or its renewal.

Indicate the initial term of your mortgage loan. This information can be found in your loan or renewal agreement.

Information required for calculation

Posted interest rate at the time the loan was granted

Indicate the posted rate stated in your mortgage loan agreement or its renewal. If you have been granted a rate reduction, this is the posted rate stated before the reduction.

%

Unpaid loan balance

You may obtain your current loan balance by contacting a specialized customer service representative at 1-866-441-3775.

$

Posted interest rate at the time the loan was granted

Indicate the posted rate stated in your mortgage loan agreement or its renewal. If you have been granted a rate reduction, this is the posted rate stated before the reduction.

%

Initial loan amount

Indicate the initial principal amount of the loan stated in your initial mortgage loan agreement.

$

Prepayment amount

Indicate the amount of your partial prepayment.

$

Term end date

Indicate the term end date stated in your mortgage loan agreement or its renewal.

Remaining term (in months)

months

Posted rate ${termTime1}

Indicate the current National Bank posted rate applicable for the specified term. The posted rate is available here.

%

Posted rate ${termTime2}

Indicate the current National Bank posted rate applicable for the specified term. The posted rate is available here.

%

Standard rate

Represents the posted rate used for the calculation of your prepayment charges.

%

Unpaid loan balance

You may obtain your current loan balance by contacting a specialized customer service representative at 1-866-441-3775. 

 

$

Initial loan amount

Indicate the initial principal amount of the loan stated in your initial mortgage loan agreement.

$

Prepayment amount

Indicate the amount of your partial prepayment.

$

Term end date

Indicate the term end date stated in your mortgage loan agreement or its renewal.

Remaining term (in months)

months

Standard rate ${variableRateType}

Indicate the current National Bank posted rate applicable for the specified term. The standard rate is available here.

%

Amount of the prepayment charges

This amount corresponds to 

$

Legal Notice

This calculator allows you to obtain an estimate of the amount of the charges which may be payable upon making a prepayment on your loan. The results are an approximation only and do not create a legal or contractual obligation for National Bank. Only loans granted and administered by National Bank are covered by this Optimum prepayment charges calculator.

 
For the following loan categories, the result obtained is higher than the actual amount payable:

  • Loan with charges calculated based on the rate differential. 

  • Loan with a remaining term which is less than 3 months.

 

In the event of the prepayment of your mortgage loan, National Bank will provide you with the details of the exact amounts payable, including other applicable fees (discharge or release fees, amount to repay from a previous promotion, etc.). 
 
For a partial prepayment, the calculator considers that:

  • This prepayment is the first one made during the calendar year. 

  • The maximum amount payable without charges is 15% of the initial principal amount of the loan.

 

Should you have questions, you may at any time contact your branch or a specialized customer service representative at 1-866-441-3775.