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Your mortgage loan moved

Learn more about the transfer of your mortgage loan from iA Financial Group to National Bank.

We’re here for the next phase of your home financing

Welcome to National Bank for your mortgage! Following the purchase of mortgage loans belonging to iA Financial Group, your mortgage loan was transferred to National Bank on September 1, 2020. We’re glad to support you in the next steps of your home ownership project.

What the transfer means for you

Your loan conditions

The majority of the conditions of your mortgage loan are maintained. Your interest rate, the amount and frequency of your payments, as well as the end date of your term are not changing.

Two annual statements for 2020

You will receive a statement for the period of January 1 to August 31, 2020 from iA Financial Group. In January 2021, we will send your annual statement for the period of September 1 to December 31, 2020. Remember to add up these two statements in your next income tax return.

Monthly adjustments of variable rates

If you have a mortgage loan with a variable rate, take note that variable rates will be adjusted once a month and not each payment. See the “Answers to your questions” section at the bottom of this page for more details.

Advantageous early repayments

Your repayment conditions were changed to allow you to repay your loan faster if you wish to do so, while avoiding early repayment fees if conditions are met. See the table below for all the details.

Repaying your loan in full

Fees could apply if you repay your mortgage loan in full before the end of your term. These fees are calculated according to the method that most benefits you: either the one used by iA Financial Group outlined in your loan contract, or National Bank’s.

Managing your taxes

For 2020, iA Financial Group took care of paying your municipal tax bill, if it was known to them. Consult your September 1, 2020 iA Financial Group statement for more information about your tax payments and your tax balance reserve.

Learn more

From 2021, you will be able to take advantage of our new online bank feature to plan tax payments and organize your periodic savings.

Early repayment: your new conditions

What won’t change

Additional principal repayments

  • Possibility of increasing the amount of your payments
  • Up to 15% of the principal amount borrowed per year

Increasing payment amounts

  • Possibility of increasing the amount of your next payments
  • For a defined period or until the end date of your loan

 

What’s new

Additional principal repayments

  • Possibility of making one or more additional payments per year, within the limit of 15% of the principal amount borrowed per year
  • Repayment applicable on the day of the request on business days (applicable on the next business day if it’s a holiday or weekend)

Increasing payment amount

  • The amount of the increase can reach a maximum equal to your regular payment (for example, if your current payment is $1,000, the maximum increase is $1,000 for a total payment amount of $2,000)
  • The increase can be changed or canceled at any time
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Calculate your prepayment fees

Prepayment fees may apply if you repay your mortgage loan before the end of your term. Get an estimate of the fees now.
 

Calculate prepayment fees

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These rates are used to calculate the prepayment fees for fixed rate loans.

Term

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12 months

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2 years

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3 years

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4 years

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5 years

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Rates are determined daily based on the rates in effect on the previous business day. The reference rate is the bond market rate.

Next steps for you

  

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You will receive your details

In September, National Bank will send you the cost of borrowing disclosure statement that details the conditions of your loan. Keep an eye on your mailbox!

  

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An advisor will call you

In September, you will get personalized support from one of our advisors who will provide answers to your questions about your mortgage, your loan insurance, managing your taxes or your other banking needs.

Discover offers that benefit your various needs

We’re here to support the projects that matter to you.

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Insuring your loan

Starting September 1, 2020, sign up for life, disability and critical illness insurance on your mortgage loan and receive 50% cashback on the life insurance premiums on your loan paid during the first year1.

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Renewing your mortgage

Is your term coming to an end? We offer favourable interest rates for your mortgage loan renewal.

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Taking precautions against identity theft

Register to SECURIZONE® Alert and get 30% off on regular pricing for the first 12 months2.

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Carrying out daily transactions

Discover the exclusive offer for preferred clients. You could get up to $400 cashback when you open an eligible chequing account3.

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Investing

Investing differently is easy with the NATgo® experience! Have a project in mind? Define your goals and manage them yourself or with an advisor, who can also help you find a way to save regularly that works for you.

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Making everyday purchases

Until December 31, 2020, sign up for an eligible credit card to receive up to $300 cashback4.

Offer for new cardholders. Minimum purchase required.


 

Interested by these offers? Make an appointment with an advisor to learn all about the benefits.

Find a branch

 

Your online bank makes it even easier

Your online bank

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Sign up to our online services to view your loan balance, make a prepayment, make an additional payment and much more.

National Bank app

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Manage your mortgage loan thanks to the National Bank mobile app, available on Android and iOS.

Answers to your questions

Why is my mortgage being transferred to National Bank?

National Bank acquired personal mortgages held by iA Financial Group (Industrial Alliance Insurance and Financial Services Inc.). All of the clients involved will have their mortgage loan transferred automatically to National Bank.

We are always on the lookout for acquisitions that allow us to consolidate our presence in the mortgage market.

What are the impacts of my mortgage transfer to National Bank? Do I have to do something?

Your mortgage was transferred automatically on September 1st.

Most of the terms of your mortgage will remain the same, such as your interest rate and the amount of your payments.

As a National Bank client, you’ll be able to take advantage of competitive rates on your mortgage renewal and favorable mortgage conditions.

You’ll also have the opportunity to take advantage of National Bank’s banking solutions, in addition to receiving support from one of our advisors to meet your goals.

When will I receive more information about my mortgage transfer to National Bank, such as my loan number?

During the month of September 2020, you will receive the cost of borrowing disclosure statement by mail. You will find all the information about your loan in this document, including your National Bank loan number.

When will I receive my first statement from National Bank?

In addition to the cost of borrowing disclosure statement that will be sent to you in September 2020, you will receive your annual statement in January 2021. Your statement will give you information about your loan for the period from September 1 to December 31, 2020.

I have a question about my mortgage loan, who should I contact?

Our dedicated advisors will be happy to support you. Call us at 514‑985‑8705 or at 1-877-330-3012.

I have a variable rate mortgage loan. How will the interest rate be adjusted?

With iA Financial Group, when the variable rate changes, the new rate is applied to your next payment.

At National Bank, if the rate varies, the change won’t always be applied to your next payment. Rather, it depends on the frequency of your payments. 

The new rate is applied when the one-month term is renewed. That means it is revised for each payment if you have monthly payments, and every four weeks if you have payments every week or every two weeks.

Will I be able to carry out online transactions relating to my mortgage loan?

As soon as you receive your cost of borrowing statement in September, you can create your account in your online bank and access the different features on offer.

If you are already a client of National Bank and have signed up for your online bank, starting September 1, you can:

  • View your loan balance 

If you have a National Bank chequing account, you can also:

  • Repay borrowed capital
  • Schedule an additional payment

The transferred balance that appears on my first National Bank statement does not match my final balance with iA Financial Group. What should I do?

These amounts should be identical. If you notice a discrepancy, contact us immediately at 514-985-8705 or at 1-877-330-3012.

I want to share my dissatisfaction with the transfer of my mortgage loan to National Bank. Who can I contact?

If you are dissatisfied with an experience, please see our Complaint settlement section to learn about the online and in-person resources at your disposal.

For more information on the process to follow in case of dissatisfaction, see our brochure [PDF].

What is happening with the payment of my tax accounts and the balance of my tax reserve?

For 2020, iA Financial Group took care of paying your municipal tax bill, if it was known to them. Consult your September 1, 2020 iA Financial Group statement for more information about your tax payments and your tax balance reserve.

However, you will have to pay your school taxes, as previously communicated by iA Financial Group at the start of 2020.

Here’s what will happen to your tax reserve:

Surplus balance

Your tax reserve balance could be in surplus on September 1. If so, we will simply refund that balance to your usual bank account no later than September 25, 2020.

Balance in deficit

Your tax reserve balance could be in deficit on September 1. If this is the case, your payments to National Bank will continue to include an amount for municipal taxes until they are fully reimbursed. Thereafter, you will see a reduction of your mortgage payment amount.

Little details that matter

Legal disclaimers

®SECURIZONE is a registered trademark of National Bank of Canada used by NBC Assistance Inc.

®NATIONAL BANK, the NATIONAL BANK logo and NATGO are registered trademarks of National Bank of Canada.

®Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank.

iA Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc.
 

1. This offer is valid from September 1 to December 31, 2020. The loan insurance application must be signed before December 31, 2020.

The offer is intended for clients whose mortgage loan has been transferred from iA Financial Group to National Bank.

To be eligible for the offer, you need to sign up for all three loan insurance protections: life, disability and critical illness coverage.

For a mortgage loan, the cashback is equal to 50% of the sum of your life insurance premiums for the first 12 months.  

You only receive the cashback if all three types of coverage are still in effect after 12 months.

If any insured person receives benefits from a claim during the first 12 months, you will not be eligible for the cashback.

If all the conditions are met, the cashback will be paid into your bank account during the 13th month.

Employees of National Bank and its subsidiaries or affiliates are eligible for the offer. The offer may not be combined with any other offer, promotion or benefit.

The offer may be modified, extended or withdrawn without prior notice, at any time.  
 

2. Promotional offer intended for clients whose mortgage has been transferred from iA Financial Group to National Bank. Offer valid for new registrations to  SECURIZONE® Alert made on December 31, 2020 at the latest. 

Promotional pricing details

Monthly promotional rate of $6.95 plus applicable taxes (individual plan), or monthly promotional rate of $10.45 plus applicable taxes (family plan), for the first 12 months following registration. From the 13th month following registration, regular monthly pricing of $9.95 plus applicable taxes (individual plan) and $14.95 plus applicable taxes (family plan) will apply automatically in accordance with the Summary and the contract relating to  SECURIZONE® Alert.

NBC Assistance Inc. reserves the right to increase or change fees at any time by giving you 30 days’ notice or to end this offer at any time without notice.

Eligible products

  • SECURIZONE® Alert — Individual plan promotional rate: $6.95/month + applicable taxes instead of the regular rate of $9.95/month + applicable taxes
  • SECURIZONE® Alert — Family plan promotional rate: $10.45/month + applicable taxes instead of the regular rate of $14.95/month + applicable taxes

Admissibility criteria for a subscription to a SECURIZONE® individual plan:

  • Must be 18 years of age or older
  • Must be a Canadian resident

Admissibility criteria for a subscription to a SECURIZONE® family plan:

  • Partner: must meet the same criteria as the individual subscriber
  • Child: dependent child, 23 years of age or younger, must reside in Canada at the same address as the plan member

For general details about the plans, see the page detailing SECURIZONE® services.
 

3. The promotional offer is valid from May 1, 2020 to October 31, 2020. The promotional offer is intended exclusively to new clients whose mortgage loan is transferred from iA Financial Group to National Bank and who are not National Bank clients.

To qualify, you must open a chequing account and sign up for the eligible products described below during the promotional period. You must have reached the age of majority in your province of residence when you sign up.

The offer may be modified, extended, or withdrawn without prior notice at any time. Employees of National Bank and its subsidiaries and entities are not eligible.

The offer may not be combined or used with any other National Bank offer, promotion or benefit and cannot be applied retroactively. There is a limit of one cashback per subscribed product during this promotion. The client cannot benefit from the offer more than once. Only the primary account holder is eligible for the offer. Authorized users of an existing credit card who open a new credit card account are not eligible for the offer. The cashback amount depends on which conditions are met.

Cashback details

To receive up to $400 cashback, you must open a new chequing account with an eligible banking package or sign up for one of the banking offers described below and meet the offer conditions.

 

Eligible products First cashback with the opening of an eligible chequing account Additional cashback with a recurring and automatic direct deposit to the account Maximum and total cashback
Offer for Professionals; Offer for Students & Offer for Newcomers $50 +$50 $100
The Modest® $50 +$50 $100
The ConnectedTM $125 +$125 $250
The TotalTM $200 +$200 $400
Eligible products Offer for Professionals; Offer for Students & Offer for Newcomers
First cashback with the opening of an eligible chequing account $50
Additional cashback with a recurring and automatic direct deposit to the account +$50
Maximum and total cashback $100
Eligible products The Modest®
First cashback with the opening of an eligible chequing account $50
Additional cashback with a recurring and automatic direct deposit to the account +$50
Maximum and total cashback $100
Eligible products The ConnectedTM
First cashback with the opening of an eligible chequing account $125
Additional cashback with a recurring and automatic direct deposit to the account +$125
Maximum and total cashback $250
Eligible products The TotalTM
First cashback with the opening of an eligible chequing account $200
Additional cashback with a recurring and automatic direct deposit to the account +$200
Maximum and total cashback $400

 

Conditions for first cashback

After you’ve opened a new chequing account and chosen an eligible product you must:

  • Sign up for online banking and eStatements
  • Carry out at least one eligible transaction in your new chequing account. (Interest and monthly banking fees charged to the account are not considered eligible transactions.)

Conditions to double your cashback

You must:

  • Set up one (1) recurring and automatic direct deposit (salary or monthly pension)

You have 60 days following the opening of your chequing account to meet the offer conditions and obtain the cashback.

Cashbacks will be paid in one (1) deposit to your new National Bank chequing account within 120 days of the date you opened the eligible products.

Commitment

To receive the cashback, you must maintain the eligible products and services without changes for at least 12 months after you sign up. If you don’t meet this condition, you’ll receive a request to repay an amount based on when you cancelled or changed your eligible products and services. This amount must be paid to the Bank within 30 days.

Clients who have received a cashback in their chequing account since November 1, 2017 are not eligible for this offer.

Other conditions apply. See nbc.ca/preferred-offer for the details.

®THE MODEST is a registered trademark of National Bank of Canada.

TMTHE CONNECTED and THE TOTAL are trademarks of National Bank of Canada.

 

4. Offer valid from June 1 to December 31, 2020. Credit card is issued subject to credit approval by National Bank of Canada. Conditions apply.

$100 cashback

Get this cashback if you charge at least $2,500 in net purchases to your account.

The eligible cards are: MC1, Allure®, mycreditTM, SyncroTM and ECHO®.

$300 cashback

Get this cashback if you charge at least $6,500 in net purchases to your account.

The eligible cards are Platinum, World®, World Elite® and Platinum Business.

To take advantage of one of those offers, you must sign up for an eligible National Bank Mastercard credit card before December 31, 2020, and activate it no later than January 15, 2021.

The account must be in good standing for the cashback to be applied and awarded.

The Ultramar and CAA Advantage cards are excluded from this offer.

Employees of National Bank and its subsidiaries and entities are not eligible for the offer. National Bank reserves the right to end this promotion at any time without notice.

Over a 4-month period, you’ll get a cashback if you charge a minimum amount in net purchases to an eligible credit card account. The cashback will be credited to your account no later than 30 days after the end of the Offer Period.

As part of these promotions, net purchases refer to the amount in purchases charged to the account less returns and refunds. Annual fees, balance transfers, cash advances, interest charges and any other fees and adjustments are not included in the calculation. The net purchases charged to your card are calculated starting the first day of the month following the account opening. 

The offer begins and the net purchases charged to your card are calculated starting the month following the account opening (for example, if the account is opened on July 15, purchases will be calculated starting August 1 and the cashback will be awarded by December 15). Net purchases between the first and the last calendar day of the month are calculated.

This promotion is intended for individuals who do not have a National Bank Mastercard credit card and have not held a National Bank credit card within the last 24 months. 

The offer is not eligible for the opening of an additional card. It is not possible to combine this offer with other promotions offered by National Bank.

®ALLURE and ECHO are registered trademarks of National Bank of Canada.

™MYCREDIT and SYNCRO are trademarks of National Bank of Canada.

®Mastercard, World Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank

Consult the Agreement governing the use of the National Bank Mastercard Credit Card [PDF]. 

Have questions about your mortgage loan?

Our advisors are here to help.

1‑877‑330-3012

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