SBI Canada Bank
Canadian arm of State Bank of India with seven branches in Ontario, British Columbia and Alberta. Offers conventional mortgages to 80 percent of value, CMHC-insured mortgages to 95 percent, and a home equity line of credit to 65 percent. It lends Ontario, British Columbia, Alberta.
Prepayment-penalty method
Standard penalty (about three months' interest)
Breaking early is penalized at roughly three months' interest, an open-style penalty that is generally on the lower, more predictable end.
See what breaking a mortgage early could costWho it tends to fit
- Self-employed and business-owner borrowers
General signals only. Approval depends on the full application; a lender that fits on paper still has to say yes.
What you can do with it
- Buying a home
- Renewal or switch
Features
- Home equity line of credit (HELOC)
Rate types
- Fixed rates
- Variable rates
Where it lends
Ontario, British Columbia, Alberta
Good to know
- Branches are in the Toronto area, Metro Vancouver and Calgary; direct application through the bank.
- Advertised fixed terms are 3 and 5 years, plus a variable option, with amortization of 25 years or less.
- Variable rate is priced from SBIC's own prime rate, not the major-bank prime.
How to reach SBI Canada Bank
You deal with this lender directly, no broker required. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit SBI Canada BankEducational summary; rates, terms, and approval are set by the lender.
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Educational information about Canadian mortgages, not financial or mortgage advice. This tool is offered by Jordan Avery, Mortgage Agent (Level 2), Licence M23999999 · Maple Key Mortgages Inc., FSRA Brokerage Licence 13999 and operated by LenderSearch; figures are estimates. Confirm all rates, terms, and eligibility directly with the lender before acting.