Tangerine Bank Mortgage Rates

Updated August 10th, 2020

Tangerine Bank Background

Tangerine is a Canadian online direct bank and is a subsidiary of Scotiabank. They are well known for their competitive offers, such as no-fee chequing and savings accounts, Guaranteed Investment Certificates (GIC), mortgages, and mutual funds. Their most notable financial product is their 2% cash back mastercard credit card with no annual fee. This product provides 2% cashback on two categories of your choosing and 1% on all other categories. To compete with larger financial institutions, Tangerine offers competitive mortgage rates as well, which are described below. Tangerine is one of Canada’s few completely online banks, which means they have no branch locations and also do not provide debit cards or cheques to its consumers. Although they are a subsidiary of Scotiabank, they have a separate institution number, which is 614.

1-Year Fixed	2-Year Fixed	4-Year Fixed	5-Year Fixed	5-Year Variable
2.89% Get This Rate	2.19% Get This Rate	2.19% Get This Rate	1.99% Get This Rate	2.05% Get This Rate

Term	Rate
1-Year Fixed	2.89% Get This Rate
2-Year Fixed	2.19% Get This Rate
4-Year Fixed	2.19% Get This Rate
5-Year Fixed	1.99% Get This Rate
5-Year Variable	2.05% Get This Rate

Tangerine Bank Fixed-Rate Mortgages

Tangerine Bank Fixed Rate Mortgage reduces the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers. If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.

Term Length	Tangerine Rate	Best Rate
1-Year Fixed	2.89%	1.99%
2-Year Fixed	2.19%	1.98%
3-Year Fixed	2.19%	1.99%
4-Year Fixed	2.19%	1.99%
5-Year Fixed	1.99%	1.94%
7-Year Fixed	2.49%	2.34%
10-Year Fixed	2.59%	2.59%

Best Mortgage Rates in Canada

1.94%^*

5-Year Fixed

1.80%^*

5-Year Variable

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^*Terms and conditions may apply. Consult our mortgage broker for more details.

Tangerine Bank Variable-Rate Mortgages

Tangerine Bank Variable Rate Mortgage provides you with fixed payments over the term; however, the interest rate will fluctuate with any changes in the prime interest rate. If their prime rate goes down, more of your payment will go towards paying off your principal; if our prime rate goes up, more of your payment will go towards interest costs. As a result, this can be a great financial tool for those expecting rates to fall in the upcoming year. A convertible mortgage allows you to convert to another term at any time. This feature provides security and flexibility, as it enables you to convert to a longer closed term should your variable rate mortgage no longer meet your needs.

Term Length	Tangerine Rate	Best Rate
5-Year Variable	2.05%	1.80%

Best Mortgage Rates

While we try our best to get your the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.