Updated November 2026 · Estima.ca research
National Bank Mortgage Rates — The Sixth Big Six, More Nimble
National Bank is the smallest of the Big Six and competes hard in Quebec and Ontario with sharp rates, its All-in-One line of credit and stronger-than-average negotiation flexibility. For many Canadian buyers it's the quiet option that matches Desjardins outside Quebec.
National Bank's product lineup
National offers fixed terms from 1 to 10 years and a 5-year variable, with typical discounts of 1.5 to 2.0 percentage points below posted. Its signature product is the All-in-One line of credit: a single account combining mortgage, savings and line of credit, applying every deposited dollar against the mortgage balance to reduce daily interest.
When the All-in-One pays off
If you keep large balances in your chequing account or receive bonuses and commissions unevenly, the All-in-One can save thousands per year in interest without changing your behaviour. It demands discipline — if everything that comes in goes out, the benefit disappears.
National vs Desjardins in Quebec
In Quebec, National and Desjardins fight over every file. National often matches or beats Desjardins' negotiated rate, but Desjardins pays patronage dividends to members, which lowers effective cost. Compare 5-year total cost, not just rate.
FAQ
- Does National Bank lend outside Quebec?
- Yes. National has branches in Ontario, New Brunswick and beyond, and funds mortgages nationwide through brokers. Rate structure is consistent across provinces.
- Does the All-in-One have a higher rate?
- The base rate on the credit-line portion is typically prime + 0.50%, while amortized mortgage portions use standard mortgage rates. The savings come from applying deposits against the daily balance.
- Does National offer insured mortgages?
- Yes. It works with CMHC, Sagen and Canada Guaranty for mortgages with less than 20% down, at posted rates competitive within the Big Six range.