How early can you renew your mortgage?

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Your renewal date

The term end or maturity date on your mortgage statement.

Your lender Choose your lender RBC TD CIBC BMO Scotiabank National Bank Another lender

Enter your renewal date and lender to see your dates.

This window is for renewing with your own bank. To move to another lender without a prepayment charge, the switch generally has to complete at maturity. Before that, ask your bank for a dated payout quote.

This is what each bank's website says, not your contract. Your registered terms may differ: your contract and renewal statement decide, so confirm the date with your lender.

The window at each lender

Each bank sets its own early-renewal window and states it on its website. Here is what each one says, in its own words, and the date we last read it.

Days and months are counted the way each bank states them: 120 days is not the same as four months. No bank says whether the first day counts, so treat each date as "about" and confirm it with your bank. A row that hasn't been rechecked within 180 days comes off this page.

How the window works

Can you renew your mortgage before your renewal date?

Most big banks let you renew with them before your term ends, inside their early-renewal window. All six banks on this page state one on their websites, from 120 days to 6 months before maturity. The table above has each bank's wording.

Is the window a rule, or does each lender set it?

Each lender sets its own window. The banks on this page state different ones, from 120 days at RBC and TD to 6 months at Scotiabank, and CIBC notes that "other lenders may have different policies."

Can you renew 6 months early?

At Scotiabank, its website says you can renew "up to 6 months before it expires, without a prepayment charge." The other banks state shorter windows: 120 days at RBC and TD, 150 days at CIBC if you qualify, 180 days at BMO, and 4 months at National Bank.

Outside the window

How early can you renew without a penalty?

It depends on your bank: RBC and TD say 120 days, National Bank 4 months, BMO 180 days and Scotiabank 6 months, each without a penalty or prepayment charge. CIBC says you may qualify from 150 days and that lenders often waive charges depending on the mortgage type, so ask CIBC whether yours qualifies.

Can you renew a year or two early?

Not as a regular early renewal: the longest windows among the banks on this page are 6 months at Scotiabank and 180 days at BMO. Earlier than that, you would be breaking your term, or asking your lender for a blend-and-extend, which the Financial Consumer Agency of Canada (FCAC) describes as an option some lenders offer before your term ends.

What happens if you renew before the window opens?

A prepayment charge may apply. CIBC, for example, says prepayment charges may apply when you "renew, refinance or pay off your mortgage mid-term." Ask your bank for a dated payout quote first, and see how renewal penalties are calculated.

Is blend-and-extend the same as renewing early?

They are different. FCAC describes blend-and-extend as extending your mortgage before your term ends with no prepayment penalty, though you may pay administrative fees, at a rate that blends your old rate with the new term's rate. Renewing inside a bank's window is a plain renewal: National Bank, for example, describes it as renewing early "to take advantage of the market rates."

Holding a rate

How early can you lock in a renewal rate?

With your own bank, choosing a fixed rate through an early renewal can secure that rate from the window dates in the table; confirm with your bank when it takes effect. A variable rate can still change during the new term: FCAC says "a variable interest rate can increase and decrease during your term." RBC, for example, says renewing early "could help save you in interest costs if rates rise before your regular renewal date." National Bank also lets you "protect your rate from 6 months before the end of your term" without renewing yet.

Is a rate hold the same as renewing early?

A rate hold reserves a rate while you decide; renewing early signs a new term. National Bank's website shows the difference: you can renew early from 4 months before your term ends, with your new conditions starting at your next payment, or protect your rate from 6 months before.

If rates fall during a hold, do you get the lower rate?

At National Bank, its website says that while your rate is protected, "if rates fall, you can request a better rate before maturity." Other lenders set their own terms, so get the answer in writing before you rely on a hold.

When does the new rate and term start if you renew early?

At National Bank, its website says that when you renew early, "your new conditions will take effect starting with your next payment." The other banks' renewal pages we read don't say, so ask your lender in writing before you sign.

Leaving your lender

Does the window apply if you are leaving your lender?

The window is for staying with your bank, not for leaving it. CIBC says that if you switch lenders before your term is up, "your current lender may charge you fees and prepayment penalties," and National Bank lists "a penalty from the original lender, if the term is still in progress" among the costs of transferring. To leave without a prepayment charge, plan for the switch to complete at maturity.

How early can a new lender hold a rate for you?

Often about 120 days. CIBC says it holds your rate "for 120 days with a quick pre-approval" when you switch, and National Bank says its rate "can be guaranteed for up to 120 days following receipt of the application." FCAC says lenders lock in a rate for 60 to 130 days, depending on the lender.

Do you have to tell your bank you're leaving before your renewal date?

When you switch, the new lender can handle the move: CIBC, for example, says "We'll contact your current lender, discharge your mortgage and register a new mortgage in your name with CIBC." Don't let the date pass while you wait, though. FCAC says that if you don't take action, the renewal of your mortgage term may be automatic.

Your letter, and whether to do it

When do banks send the renewal letter?

A bank must send your renewal statement at least 21 days before your term ends, according to FCAC. Under the Canadian Mortgage Charter, lenders are also expected to contact you four to six months before your renewal about your options; that is an expectation, not a legal deadline.

What does the date on your offer letter mean?

Your renewal date is the day your current term ends. FCAC says the renewal statement shows the balance at the renewal date, the rate, the payment frequency, the term and any charges, and must say that the rate offered won't increase until your renewal date. If your letter also shows a date to sign by, ask your bank in writing what happens after it.

Should you renew early?

Renew early with your own bank only after you've compared. Early renewal can bring forward when your new conditions take effect. At National Bank, they take effect at your next payment. Ask your own lender for the effective date before signing. FCAC suggests shopping around a few months before your term ends, and the date tool above gives you a date to start.

How early should you renew, as opposed to how early you can?

Start comparing a few months before your term ends, as FCAC suggests, and don't wait for the renewal letter. How early you can sign is your bank's window; you can compare from the start date the tool gives you and still sign later, at maturity if that suits you.

Can you negotiate when you renew early?

You can negotiate any renewal. FCAC says you may qualify for a discounted rate lower than the rate in your renewal letter, and that you can tell your lender about other offers, with proof if it asks.

I'm self-employed. Does tax season change when I should start?

It can, because a new lender may ask for your latest Notice of Assessment: CMHC lists tax returns supported by the Notice of Assessment among the documents self-employed borrowers may provide. The CRA's filing deadline for the self-employed is June 15, any balance is due April 30, and the CRA aims to send a Notice of Assessment within two weeks of an on-time digital return (12 weeks for paper).

For more on renewing when you work for yourself, see the self-employed section of my Burlington renewal page.

Sources and how we check

The other five banks' windows were read on their own websites on November 1, 2026, and re-read on November 2, 2026. BMO's window was first confirmed on its website on November 2, 2026. No bank's renewal page shows a publication date. Each row is rechecked at least every 180 days or it comes off the page. The date tool counts back from your date in each bank's own unit (days or months; if a month has no matching day, it uses the last day of that month). It doesn't adjust for weekends or holidays, because no bank mentions business days.

• RBC, Renewing your mortgage (120-day window, "Some restrictions apply", renewing early and rising rates).
• TD, Mortgage renewal tips (120 days, no prepayment charge).
• CIBC, Mortgage renewal (150 days if you qualify; other lenders' policies), Prepayment (charges when you renew mid-term) and Switch your mortgage (120-day rate hold, charges for leaving before term end, CIBC contacts your current lender).
• BMO, Mortgage renewal (could not be read on November 1, 2026; read on November 2, 2026: "as early as 180 days before the end of your term without penalty", a prepayment fee if earlier).
• Scotiabank, Mortgage renewal (6 months, no prepayment charge).
• National Bank, Mortgage renewal (4 months, new conditions from the next payment, rate protection from 6 months) and Mortgage transfer (120-day rate guarantee, penalty if the term is in progress).
• Financial Consumer Agency of Canada, Renewing your mortgage (21-day renewal statement and its contents, shopping around, negotiating, automatic renewal), Breaking your mortgage contract (blend-and-extend) and Mortgage preapproval (rate locks of 60 to 130 days), all dated October 15, 2025, and Interest on mortgages (a variable rate can change during the term), dated February 23, 2024.
• Government of Canada, 2023 Fall Economic Statement, Chapter 1 (Canadian Mortgage Charter: contact four to six months before renewal).
• CMHC, Self-Employed mortgage loan insurance (tax returns supported by the Notice of Assessment).
• Canada Revenue Agency, Important dates for individuals (filing due June 15 for the self-employed, payment due April 30) and CRA service standards 2026-2027 (Notice of Assessment within two weeks digital, 12 weeks paper).

This page is general information, not financial, legal or tax advice, and not a commitment to lend. It doesn't interpret any contract. Confirm your own dates with your lender.