Prime Rate

As a valued member of Alterna, we would like to keep you informed about changes that may affect you. On March 14th, 2025 the Bank of Canada key interest rate decreased by 0.25% - which in turn has decreased Alterna's Prime Interest Rate from 5.20% to 4.95%. 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.