RBC: charged 15 month payout penalty
The Big-6 banks love your money, not your sparkling personality.
This article is old and still shows the same calculations.
RBC charges homeowner $8900 penalty, or 15 months interest charge!
We get calls on high payout penalties all the time. The answer is broker lenders have payouts that are about 30% as much as the Big-6 banks.
Mortgage Mark Herman, top Calgary mortgage broker.