TD Canada Trust · 5-Year VariableTD Canada Trust 5-year variable mortgage, compared.
TD Canada Trust isn’t posting a broker-channel 5-year variable on our rate board today — the best 5-year variable across our network is 3.00%. We get TD Canada Trust’s broker pricing — typically 15-30 bps below posted — and compare it across 100+ lenders.
How does TD Canada Trust’s 5-year variable compare?
TD Canada Trust isn't currently posting a broker-channel 5-year variable on our rate board, so the rate above is the best 5-year variable across our 100+ lenders — not TD Canada Trust's own. For this term we shop your file across the full shelf, TD Canada Trust included, and bring back the sharpest fit.
The trade-off, and what drives the rate
The trade-off. You accept payment uncertainty in exchange for a cheaper exit and upside if rates fall.
What drives the rate. A 5-year variable moves with your lender's prime rate, which tracks the Bank of Canada's overnight policy rate. When the Bank cuts, your rate (and often your payment) falls within weeks; when it hikes, it rises. The variable-versus-fixed gap (the 'spread') widens and narrows with the market's rate outlook.
What would my payment be with TD Canada Trust?
About $2,650/month. On a $700,000 home with 20% down, the mortgage is $560,000. That’s at the network’s best 5-year variable rate of 3.00% over a 25-year amortization. At TD Canada Trust’s consumer rate (~15-30 bps higher) the same mortgage costs $50-100 more a month. Model your numbers in the TD Canada Trust calculator.
| Term | Best rate | Est. monthly payment* |
|---|---|---|
| 5-Year Fixed | — | — |
| 5-Year Variable | — | — |
| 3-Year Fixed | — | — |
| 3-Year VariableLowest | 3.97% | $2,937/mo |
| 2-Year Fixed | — | — |
| 1-Year Fixed | — | — |
| 4-Year Fixed | — | — |
| 7-Year Fixed | — | — |
| 10-Year Fixed | — | — |
What a 5-year variable with TD Canada Trust means in practice
The fact that shapes a 5-year variable at TD Canada Trust is registration: TD registers most mortgages as a collateral charge. That brings a real benefit — later credit increases at TD can happen without re-registering — but it also changes the exit. A collateral charge can't simply be assigned to a new lender, so moving away from TD when this 5-year variable matures in 5 years can mean a discharge and re-registration (roughly $1,000 in legal fees) rather than a free switch.
More on TD Canada Trust's 5-year variable: penalties, privileges and programs
Breaking the variable mid-term typically costs three months' interest, so on this term the collateral charge, not the penalty formula, is the bigger switching cost to plan around.
TD's annual privilege on our table: 15% of the original principal as a lump sum each year, plus the right to double payments. That is up to $84,000 a year on a $560,000 mortgage — useful headroom for anyone expecting a bonus, an inheritance or sale proceeds inside the term.
TD is often the right fit when its retention habits suit you: it competes on rate-match when you shop, can hold a rate for up to 120 days while you buy, and is known for sending renewal letters with one of the longest lead times. It is also broad on self-employed files with full documentation.
Against the other Big-6. On a variable, the penalty won't separate TD from the other five big banks — three months' interest is typical across the group. On prepayment TD sits mid-pack at 15% plus double-up — the others: RBC and CIBC (10% lump sum plus double-up), Scotiabank (15/15), BMO (20/20), National Bank (15% lump sum plus double-up).
How does TD Canada Trust price the broker channel?
Canada's second-largest mortgage lender. Strong on collateral-charge mortgages (built-in HELOC), competitive on rate-match retention, and broad accept for self-employed full-doc files. Known for the longest renewal-letter lead time.
TD Canada Trust's rate sheets and strengths
TD Canada Trust runs a consumer 5-year variable sheet and a wholesale broker-channel sheet, usually 15-30 bps lower — on a $700,000 mortgage, 20 bps is roughly $1,400 a year.
- Collateral-charge mortgages
- Self-employed full-doc
- Rate-match retention
- 120-day rate hold
Why get TD Canada Trust’s 5-year variable through a broker?
Because the rate TD Canada Trust quotes you directly is rarely its best 5-year variable. We can help you save money.
Access the broker channel
TD Canada Trust's broker-channel 5-year variable rate is typically 15-30 bps below the rate you would be quoted directly — and you can only reach it through a licensed brokerage like ours.
Switch or renew without overpaying
At maturity we benchmark TD Canada Trust's renewal/switch offer against the whole market so you never auto-renew high.
Bring us a written offer from a big bank. We’ll try to beat it. If we can’t, we pay you $500. Conditions apply. See the conditions
Whatever your situation with TD Canada Trust
We submit to TD Canada Trust’s broker desk and 100+ other lenders on one application — whichever prices your file lowest wins.
First-time buyers
5% down with FHSA + RRSP HBP optimization — TD Canada Trust or whichever lender prices you lowest.
Refinancing
Tap your home equity for renovations, debt consolidation or investing.
Renewing
Don't auto-renew with TD Canada Trust — but check whether it's collateral-charged before switching, since that decides the cost of moving.
Self-employed
Business-for-self files priced right across A-lender, alt-A and private.
Bruised credit
B-lender and private paths now, with a mapped exit back to A-pricing.
Breaking a TD mortgage
Estimate the TD Canada Trust posted-rate IRD penalty before you switch.
TD Canada Trust 5-year variable rate — FAQ
What is TD Canada Trust's 5-year variable mortgage rate today?
The best 5-year variable across our 100+ lender network is approximately 3.00% as of Oct 24, 2026. As an FSRA-licensed brokerage we quote TD Canada Trust's broker-channel sheet, typically 15-30 bps below its consumer rate. Your exact rate depends on your file.
Is a TD Canada Trust 5-year variable registered as a collateral charge?
Usually, yes — TD registers most mortgages as a collateral charge. That lets TD extend more credit later without re-registering, but a collateral charge can't be assigned to another lender, so leaving at the end of your 5-year variable can mean a discharge and re-registration (roughly $1,000 in legal fees) instead of a free switch. We check the charge type before recommending a move.
What prepayment privileges come with a TD Canada Trust 5-year variable?
For TD Canada Trust, our privilege table records 15% of the original principal as a lump sum each year, plus the right to double payments. On a $560,000 mortgage that allows up to $84,000 a year in lump sums. On a variable the penalty is typically only three months' interest, so the privilege is mainly a paydown tool. The exact privilege is set in your commitment letter.
How does breaking a TD Canada Trust 5-year variable work?
The break penalty is only three months' interest, typically a fraction of a fixed mortgage's IRD, which is the single biggest reason mobile or uncertain borrowers choose variable. TD calculates fixed-rate penalties using its posted-rate IRD and registers most mortgages as a collateral charge, which can add a discharge step when you switch. Estimate it with the TD Canada Trust penalty calculator; TD Canada Trust's written payout statement is the binding number.
Can I get a lower 5-year variable rate than TD Canada Trust's?
Sometimes. Another of our 100+ lenders may price your specific 5-year variable better — we put TD Canada Trust and the rest of the network on one application, then you choose.
Get TD Canada Trust’s best 5-year variable — and 100+ others.
One application, no credit pull to begin. We submit to TD Canada Trust and shop the whole network for your file.