The best HELOC rates in Canada are hard to find on a website, because most lenders do not post one. A home equity line of credit (HELOC) is priced as the lender’s prime rate plus a margin, and the margin is usually set for each borrower. This page shows what nine lenders actually publish: the posted rate or margin where there is one, each lender’s prime rate with its date, the borrowing limits, and the fees that are stated. Every figure comes from the lender’s own pages, read on October 11, 2026. This is general education, not financial advice, and a posted rate is not an offer.
HELOC rates in Canada at a glance
| Feature | Posted HELOC rate or margin | Lender's prime or base rate | Limits stated | Fees stated |
|---|---|---|---|---|
| National Bank All-In-One | 5.45% variable (prime plus 1.00%) (better on this row) | 4.45% | up to 65% of the value of the property | $7 per month, per bank account, with unlimited transactions |
| Tangerine HELOC | 5.95% (better on this row) | 4.45% (effective February 23, 2026) | Not stated on the pages read | No fee to repay and borrow again |
| CIBC Home Power Plan | CIBC Prime, 4.45% on October 11, 2026, as an introductory rate until December 6, 2027 | 4.45% (as of October 11, 2026) | Minimum borrowing amount $10,000 | a $300 property valuation fee in the introductory-offer terms |
| TD Home Equity FlexLine | No margin posted: a variable interest rate based on the TD Prime Rate | 4.45% (effective October 30, 2025) | up to 80% of the home's value by using a Term Portion | Not posted |
| RBC Homeline Plan | No figure posted: a variable interest rate that RBC describes as lower than most of its other borrowing products | 4.45% (last changed October 30, 2025) | up to 80% of the home's value overall, with the Royal Credit Line up to 65% | Not posted |
| BMO Homeowner ReadiLine | No margin posted: a variable rate based on BMO's Prime Rate plus an adjustment factor that depends on the loan | 4.45% (BMO InvestorLine rate sheet, October 8, 2026) | the line of credit portion cannot exceed 65% of the property's value | Not posted |
| Scotia Total Equity Plan | Rate not posted on the product page, which directs borrowers to call for current rates | No prime figure on the pages read | up to 80% of the home's value, including up to 65% for line of credit products | no additional fee when STEP is set up at the same time as the mortgage |
| Desjardins Versatile Line of Credit | No figure on the page read: a variable rate when borrowing directly from the line of credit | Not on the page read | up to 65% of the determined value of the property, counting the HELOC and any tied loans | Not posted |
| Manulife One | No prime-plus margin: variable sub-account rates change with the Manulife One Base Rate | Base Rate 4.95% | Not stated on the page read | $16.95 a month ($9.95 for clients 60 or older) |
Sources: each lender's own HELOC, rates and prime pages, read October 11, 2026. 'Not posted' means the page gave no figure; the lender quotes it to each borrower. Rates are variable and can change without notice.
The table in sentences. National Bank posts its All-In-One line of credit at 5.45% variable (prime plus 1.00%), against a prime rate of 4.45%. Tangerine posts a Home Equity Line of Credit rate of 5.95% next to a Tangerine Prime Rate of 4.45% (effective February 23, 2026), which works out to prime plus 1.50 percentage points. CIBC advertises CIBC Prime, 4.45% on October 11, 2026, as an introductory rate until December 6, 2027, for new Home Power Plan applicants only. TD, RBC, BMO, Scotiabank and Desjardins describe a variable rate and post no figure for the revolving line. Manulife Bank prices Manulife One from its own Base Rate of 4.95%.
How are HELOC rates quoted in Canada?
HELOC rates in Canada are quoted as the lender’s prime rate plus a margin, so a borrower’s rate has one part that moves and one part that is fixed in the agreement. The Financial Consumer Agency of Canada (FCAC) puts it this way: a variable HELOC rate is “typically based on your lender’s prime rate”, and its example is prime plus 1%.
Lenders use the same structure in their own words:
- BMO: the Homeowner ReadiLine line of credit rate is a variable rate based on BMO's Prime Rate plus an adjustment factor that depends on the loan.
- Tangerine: the posted rate is a total rate, but a borrower’s agreement expresses it as Tangerine's Prime Rate plus or minus an adjustment factor set out in the account agreement.
- TD: the FlexLine’s Revolving Portion has a variable interest rate based on the TD Prime Rate.
- Manulife Bank: Manulife One uses the bank’s own reference rate instead of prime, and variable sub-account rates change with the Manulife One Base Rate.
Two things follow. First, a posted rate is only a starting point. Tangerine says so directly: the rate a borrower pays may differ from the posted rate and moves automatically when Tangerine's Prime Rate changes. Second, the margin is the part that differs between lenders, because prime was the same number at every lender whose prime rate was read. A lender that will not post its margin will still put it in a written offer, and that offer is what can be lined up against National Bank’s and Tangerine’s posted figures.
What is each lender’s prime rate today?
Prime was the same figure at all six lenders whose prime rate could be read, as the table shows. The figure matters because it is the base that every prime-plus HELOC moves with.
| Lender | Prime rate as posted | Where it is posted |
|---|---|---|
| RBC | 4.45% (last changed October 30, 2025) | RBC’s “Prime and Other Rates” page |
| TD | 4.45% (effective October 30, 2025) | TD’s “Today’s Rates” page |
| CIBC | 4.45% (as of October 11, 2026) | CIBC’s loans and lines of credit rates page |
| National Bank | 4.45% | National Bank’s rates page, which shows no effective date |
| Tangerine | 4.45% (effective February 23, 2026) | Tangerine’s HELOC rates page |
| BMO | 4.45% | BMO InvestorLine’s rate sheet, checked October 8, 2026 |
| Scotiabank | No figure found | The Scotiabank mortgage and line of credit pages read on October 11, 2026 |
In sentences: RBC’s prime page shows 4.45% (last changed October 30, 2025), and TD’s shows 4.45% (effective October 30, 2025). CIBC states its prime rate as 4.45% (as of October 11, 2026), and National Bank’s rates page shows 4.45% without a date. Tangerine posts 4.45% (effective February 23, 2026). BMO’s prime rate was 4.45% on the BMO InvestorLine rate sheet. Each lender declares its own prime rate, which is why the pages carry different dates.
A lender’s “mortgage prime” can differ from the prime rate used for lines of credit. TD is an example: its HELOC page prices the revolving line from the TD Prime Rate, while its variable mortgages are priced from a separate TD Mortgage Prime Rate, posted at 4.60% on TD’s mortgage rates page. The rate named in the HELOC agreement is the one that applies.
Which lenders post a HELOC rate?
Three of the nine lenders checked put a number on the revolving line: National Bank, Tangerine and, as a time-limited introductory offer, CIBC. The other six describe the rate without posting one.
National Bank All-In-One. The line of credit portion is posted at 5.45% variable (prime plus 1.00%). The line can cover up to 65% of the value of the property, and the account carries a fee of $7 per month, per bank account, with unlimited transactions.
Tangerine. The posted rate is 5.95%. Tangerine says the balance can be paid off at any time and borrowed again without re-applying or paying fees.
CIBC Home Power Plan. The offer is CIBC Prime, 4.45% on October 11, 2026, as an introductory rate until December 6, 2027. The conditions matter more than the headline: borrowers must apply by April 30, 2027 and open the line of credit by August 31, 2027, the offer is for applicants who do not already hold a Home Power Plan, and on December 7, 2027 the rate reverts to the ongoing rate set in the borrower's CIBC agreement. CIBC does not post that ongoing rate. The offer terms also state a $300 property valuation fee. The minimum borrowing amount is $10,000.
TD Home Equity FlexLine. TD posts no margin for the Revolving Portion. It does post the Term Portion, the part repaid on a schedule: 5.34% (posted rate 6.09%) for a 5-year fixed closed term and 4.24% (TD Prime Rate minus 0.21%) for a 5-year variable closed term. The Revolving Portion requires a minimum monthly interest-only payment.
RBC Homeline Plan. RBC describes the Royal Credit Line as a variable interest rate that RBC describes as lower than most of its other borrowing products, with no figure. Its plan page includes an illustration with sample interest rates, which RBC presents as an example and not as current pricing.
BMO Homeowner ReadiLine. BMO states the formula and not the number. For a mortgage held elsewhere, BMO says a mortgage at another financial institution must be discharged before moving to the Homeowner ReadiLine.
Scotia Total Equity Plan. The ScotiaLine rate is not posted on the product page, which directs borrowers to call for current rates. The ScotiaLine page does post a minimum credit limit of $10,000, an overlimit fee of $29.00 and a dishonoured payment fee of $48.00.
Desjardins Versatile Line of Credit. Desjardins describes a variable rate when borrowing directly from the line of credit, and lets a borrower convert amounts into tied loans with their own rate and conditions.
Manulife One. The monthly fee is $16.95 a month ($9.95 for clients 60 or older), waived when the account holds a total positive balance of $5,000 or more at month end.
Simplii Financial is not in the table because it does not price a secured line of credit itself: no rate of its own; Simplii connects applicants with a CIBC specialist for a secured line of credit.
How much does one percentage point cost on a HELOC?
On an interest-only HELOC, each percentage point of rate costs one-twelfth of 1% of the balance every month. That makes the posted rates easy to turn into dollars.
A worked example with a hypothetical balance of $50,000, paying interest only:
| Rate used | Monthly interest on the example balance |
|---|---|
| CIBC introductory rate, equal to CIBC Prime | $185.42 |
| National Bank All-In-One posted rate | $227.08 |
| Tangerine posted rate | $247.92 |
The gap between the two posted ongoing rates is $20.83 a month, or about $250 a year, on that example balance. National Bank’s monthly account fee narrows the gap. A quarter-point move in prime changes the interest on the same balance by $10.42 a month, at any lender, because the margin does not move. These sums use simple monthly interest to keep the comparison clear; lenders work interest out under the terms of their own agreements, so a statement can differ by small amounts.
Interest-only payments leave the balance where it started. FCAC lists that among the risks of a HELOC: “if you only pay the interest, you won’t pay off your loan”. The HELOC calculator runs the same sum on any balance and rate, and shows how long a chosen monthly payment takes to clear it. For a balance being repaid on a fixed schedule instead, the loan calculator shows the payment.
How much can you borrow with a HELOC?
At federally regulated lenders, the revolving HELOC portion is limited to 65% of the home’s value, and the mortgage and HELOC together to 80%. The rules come from OSFI’s Guideline B-20 and a June 2022 OSFI advisory, and FCAC states the same limits for consumers.
How to read this table: These are maximums for federally regulated financial institutions. A lender can approve less, and provincially regulated lenders such as most credit unions follow their own regulator.
| Rule | Limit | Share of | Stated by |
|---|---|---|---|
| Revolving HELOC portion (the part that can be borrowed, repaid and borrowed again) | 65% | the value of the home | FCAC; OSFI Guideline B-20 |
| Mortgage and HELOC combined (any lending above the revolving limit must be amortized) | 80% | the value of the home | OSFI advisory on Guideline B-20; FCAC |
| Minimum home equity to qualify for a HELOC combined with a mortgage | 20% | the value of the home | FCAC |
| Minimum home equity to qualify for a standalone HELOC (more than) | 35% | the value of the home | FCAC |
Source: Home equity lines of credit — Financial Consumer Agency of Canada (page dated 2025-10-15); Home equity lines of credit — minimum equity to qualify (FCAC); Home equity lines of credit — home equity example (FCAC); Home equity lines of credit — variable rate based on prime (FCAC); Home equity lines of credit — risks (FCAC); Home equity lines of credit — notice of a rate change (FCAC); Borrowing against home equity — Financial Consumer Agency of Canada (page dated 2025-10-15); Guideline B-20: Residential mortgage underwriting practices and procedures (2017) — scope; Guideline B-20 — Home Equity Lines of Credit (HELOCs): 65 percent limit; Guideline B-20 — footnote 16: credit above 65 percent must be amortized; Clarification on the Treatment of Innovative Real Estate Secured Lending Products under Guideline B-20 (OSFI advisory, June 30, 2022) — 80 percent overall limit; OSFI advisory (June 30, 2022) — lending above 65 percent in a combined loan plan is non-readvanceable. In effect from October 31, 2017; checked October 11, 2026.
FCAC’s own example shows how the two limits interact. On a home worth $500,000 with a mortgage balance of $200,000, the revolving cap is $325,000, but the room under the combined cap is $200,000, so the smaller figure is the maximum HELOC.
The lenders’ pages line up with the rules. RBC says the Homeline Plan allows borrowing up to 80% of the home's value overall, with the Royal Credit Line up to 65%. BMO offers up to 80% of the home's value overall and says the line of credit portion cannot exceed 65% of the property's value. TD says a borrower can reach up to 80% of the home's value by using a Term Portion. Scotiabank sets up its plan at up to 80% of the home's value, including up to 65% for line of credit products, and adds a detail the others do not spell out: the overall limit decreases gradually to 65% of the home's value over 25 years. Desjardins describes borrowing up to 65% of the determined value of the property, counting the HELOC and any tied loans.
FCAC also says a bank applies a stress test to a HELOC application, so the limit is a ceiling and not a promise. The mortgage affordability calculator shows how income and debts shape what a lender may approve.
What fees do lenders post for a HELOC?
Very few. FCAC names home appraisal fees, legal fees to register the home, title search fees, administration fees and monthly fees as examples of HELOC costs, with cancellation and discharge fees possible on closing. Only one of the nine lenders posted a set-up cost of that kind on the pages read on October 11, 2026: CIBC’s introductory-offer terms state a $300 property valuation fee. No lender posted a legal or discharge fee for its HELOC.
What the lenders do post:
- CIBC states a $300 property valuation fee in the terms of its introductory offer.
- Scotiabank states no additional fee when STEP is set up at the same time as the mortgage.
- National Bank charges $7 per month, per bank account, with unlimited transactions.
- Manulife Bank charges $16.95 a month ($9.95 for clients 60 or older), waived when the account holds a total positive balance of $5,000 or more at month end.
- Tangerine says the balance can be paid off at any time and borrowed again without re-applying or paying fees.
- Scotiabank’s ScotiaLine page lists transaction fees, including an overlimit fee of $29.00.
Set-up costs that are not posted still exist. They appear in the lender’s cost-of-borrowing disclosure, which sets them out before the agreement is signed.
How to compare HELOC offers
HELOC offers differ on the margin, the fees and the terms, since prime is the same almost everywhere. A checklist built from what the lenders’ pages do and do not say:
- The margin over prime, in writing. National Bank’s posted margin and Tangerine’s posted rate are public reference points.
- Whether the rate is introductory. CIBC’s offer has an end date, after which the rate reverts to the ongoing rate in the agreement.
- Which prime rate the agreement names. A lender’s line of credit prime and mortgage prime can be different rates.
- Set-up costs. Appraisal, legal and title fees, and who pays them. CIBC’s offer terms name a property valuation fee.
- Monthly account fees and whether a balance waives them.
- The minimum payment. Interest only, or interest plus principal.
- Whether a mortgage at another lender has to move. BMO requires it for the Homeowner ReadiLine.
- How the limit changes over time. Scotiabank’s overall plan limit steps down after set-up.
- Fixed-rate options for part of the balance, such as TD’s Term Portion or a Desjardins tied loan.
- Discharge and cancellation fees for leaving later.
A homeowner weighing a HELOC against refinancing can test the mortgage side with the mortgage calculator, and the mortgage renewal calculator shows the payment at a new rate when the term ends. For borrowers using a HELOC to consolidate other balances, the debt payoff calculator compares payoff timelines.
Is a HELOC a good way to borrow?
It depends on the borrower’s repayment plan, and FCAC is direct about the risks. Its examples: a rate increase can make repayment hard, a HELOC that is not repaid could cost the borrower the home, borrowing reduces home equity, easy access can lead to more debt than can be repaid, and interest-only payments never clear the balance.
TD’s page shows how the two kinds of credit are priced differently. Its Term Portion was posted below TD Prime on a 5-year variable closed term, while its revolving line is priced from TD Prime with a margin TD does not post. A borrower who knows the amount and wants a payoff date may find the fixed-schedule portion of these plans, or a mortgage refinance, a closer fit than revolving credit. A borrower who needs flexible access and has a plan to repay is the case these products are built for. Lenders, not this page, decide eligibility, and a mortgage professional or the lender can explain the terms of a specific offer.
Common mistakes when comparing HELOC rates
- Treating a posted rate as an offer. Tangerine states that the rate a borrower pays may differ from the posted rate.
- Comparing an introductory rate with an ongoing one. CIBC’s rate at prime ends on a stated date.
- Ignoring which prime rate applies. TD uses one prime rate for the FlexLine’s revolving line and another for variable mortgages.
- Assuming the full limit is available forever. Under OSFI’s advisory, lending above the 65% revolving limit must be amortizing, and Scotiabank’s plan limit declines over time.
- Leaving fees out of the comparison. A lower rate with a monthly account fee can cost more on a small balance.
- Planning around interest-only payments. The balance does not fall unless principal is paid.