Lines of Credit

Prime Rate (Rates effective 2022-04-15) Rates
Alterna Prime Rate 3.20%
As a valued member of Alterna Savings, we would like to keep you informed about changes that may affect you. On April 15, 2022 the Bank of Canada key interest rate increased by 0.50% - which in turn has increased Alterna Savings’ Prime Interest Rate to 3.20% from 2.70%. If you hold a variable rate lending product with Alterna Savings such as a mortgage, line of credit or loan your payment amount will not change, however, a higher portion of your payment will be applied towards your principal.