Prime rate by bank in Canada

Every major Canadian lender sets its prime rate off the Bank of Canada policy rate (2.25%). Here is where each one sits today.

Quick answer

Most major Canadian banks — RBC, BMO, Scotiabank, CIBC and others — have a prime rate of 4.45% in 2026, set at the Bank of Canada overnight rate (2.25%) plus about 2.2 points. TD is the exception, using a 4.60% mortgage prime rate for variable mortgages.

2.25%

BoC rate

4.45%

prime rate

Jul 15

next decision

RBC Royal Bank~~4.45%~~TD Canada Trust~~4.60%~~Scotiabank~~4.45%~~BMO Bank of Montreal~~4.45%~~CIBC~~4.45%~~National Bank of Canada~~4.45%~~Tangerine~~4.45%~~Simplii Financial~~4.45%~~EQ Bank~~4.45%~~Desjardins~~4.45%~~Laurentian Bank~~4.45%~~Manulife Bank~~4.45%~~

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