Our guide to RBC Royal Bank mortgages

James Rodriguez James Rodriguez updated on 2022-03-31

When it comes to mortgages, there are a lot of things to think about. What’s the interest rate? What’s the term? Do you want a fixed or a variable interest rate?

There are lots of important questions to ask when you’re shopping around for a mortgage. But at the top of that list is without a doubt, "which mortgage lender should you work with?"

Each lender has its own set of pros and cons, so it’s important to understand the differences before you decide which one is right for you. In this review, we take a close look at RBC Royal Bank mortgages and their current rates.

About RBC Royal Bank

Founded in 1864, RBC is now amongst some of the largest banking organizations in Canada. They are one of North America's leading diversified financial services companies and provide mortgages, personal and commercial banking, wealth management, insurance, investor services and capital market products. They have 86,000+ full- and part-time employees who serve 17 million clients in Canada, the U.S. and 27 other countries.

Our review of RBC Royal Bank

RBC Royal Bank has a very broad and detailed mortgage section on their website. From overviews to rates, offers to specialists, everything you need to know, you will find online with RBC. We like the broad amount of tools and resources available to you, helping you determine your mortgage options. RBC states that you can be pre-approved in as few as 60 seconds.

RBC Royal Bank mortgage pros and cons

Here are some of the advantages and disadvantages of RBC Royal Bank mortgages:

Why RBC Royal Bank might be right for you:

Many branches across Canada
One of Canada's most reputable lenders
Automatic access to a wide range of other banking services

Why RBC Royal Bank might not be right for you:

Strict lending requirements
Working with a major banks can mean less personal service.
Be mindful of cross selling

To find the best mortgage rates, it is important to weigh quotes from different lenders. Subtle differences in the interest rates, term lengths and fine print can mean tens of thousands of dollars over the course of the mortgage. Use our free, online mortgage rates comparison tool today to help you find the perfect provider!

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Get the best mortgage rates in just seconds

What types of mortgages does RBC Royal Bank offer?

Below is a table showing some details about the different mortgage plans RBC Royal Bank offers. Most providers will offer a variety of mortgage options.

Coverage type Fixed-rateVariable-rateRBC Homeline planCashback Mortgage
Pre-approval online
Rate guarantee
Amortization period5 to 30 years 5 to 30 years-5 to 30 years
Prime rate2.70%2.70%2.70%2.70%
RBC Royal Bank mortgage details

What mortgage rates does RBC Royal Bank offer?

There are two main types of mortgage rates in Canada: fixed and variable rates.

Fixed-rate mortgages are a great option for people who want to know exactly what their interest rate will be throughout the entire course of their loan term. With a variable rate, your payments change based on market conditions. This could mean rates that go up over the course of the term.

Below are some of the mortgage rates RBC Royal Bank offers:

Rate Type

Term Length



2 year



5 years



5 years


RBC Royal Bank's mortgage rates

Want to compare mortgage rates in Canada from other lenders? You can for free, and anonymously right on this website.

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How do I contact RBC Royal Bank?

To contact RBC regarding mortgages, call:

There is also available Teletypewriter (TTY) Services for those who are deaf or hard of hearing at:

Our RBC Royal Bank mortgage calculator

Want to calculate what your RBC Royal Bank mortgage will look like? We have some tools right here on our website that can help:

Our mortgage payment calculator lets you see monthly payments and gives a yearly amortization schedule.

Our mortgage affordability calculator will help you determine how large a mortgage you can get.

Our mortgage default insurance calculator will tell you how much you'll owe for mortgage default insurance