National Bank of Canada (Banque Nationale du Canada) was founded in 1859 and is headquartered in Montreal, Quebec. As the sixth-largest bank in Canada by assets, National Bank occupies a unique position among the Big Six — it holds its strongest market share in Quebec, where it is the largest bank and an institution deeply embedded in the provincial economy, while steadily expanding its presence across the rest of Canada through both branch expansion and digital channels.
National Bank's most distinctive mortgage product is the All-In-One, which combines a mortgage, home equity line of credit, and chequing account into a single integrated facility. As borrowers deposit income into the account, the outstanding balance automatically decreases — reducing the interest charged each day. The mortgage component amortizes normally, but borrowers benefit from the floating nature of the combined account. Like other big banks, National Bank registers mortgages as collateral charges, and the All-In-One is especially valued by self-employed borrowers who manage variable monthly cash flow.
National Bank is notable for its dedicated programs for self-employed Canadians, offering flexible income documentation and underwriting standards that consider business earnings more holistically than many competitors. The bank also serves newcomers to Canada with specialized mortgage solutions. Its 3-year fixed rate is among the most competitive big-bank offerings in the market, and its variable rate at Prime+0.00% is at-market average. Outside Quebec, National Bank's branch network is thinner than the other Big Five, so many borrowers in English Canada access National Bank products through the broker channel.
National Bank uses a standard IRD calculation for fixed-rate mortgages, comparing your contracted rate to the current posted rate for the term closest to your remaining term. Variable-rate mortgages are subject to a three-month interest penalty only. Borrowers in the All-In-One product should understand that the HELOC component can be repaid and redrawn at any time without penalty, but breaking the fixed-rate mortgage portion triggers the same IRD methodology as a traditional mortgage.
The All-In-One is National Bank's integrated banking product that combines your mortgage, home equity line of credit, and day-to-day chequing account into a single revolving credit facility. Every dollar of income you deposit reduces your outstanding balance and the interest you're charged that day. As you pay down the mortgage portion, the available HELOC room increases automatically. This product is especially useful for self-employed borrowers or those with variable income, as it maximizes the interest-saving effect of every deposit. It is registered as a collateral charge against your home.
Yes. National Bank is one of the more accommodating big banks for self-employed Canadians. They offer flexible income documentation options, including the ability to use business income more holistically when calculating qualifying income. Borrowers who have been self-employed for two or more years with consistent income are generally well served. National Bank also has specific programs for incorporated business owners who prefer to keep income in their corporation, allowing for alternative income verification methods in some cases. Consulting with a mortgage specialist is recommended to determine qualification under specific guidelines.
Yes, National Bank offers mortgages in all Canadian provinces and territories, not just Quebec. However, its physical branch network is concentrated in Quebec, with fewer branches in Ontario, Alberta, British Columbia, and Atlantic Canada. Borrowers outside Quebec typically access National Bank products through licensed mortgage brokers, or through National Bank's digital and telephone channels. The bank has been expanding its national footprint in recent years, but borrowers in English Canada who prefer in-person banking may find the branch availability more limited than with other major banks.
Have a specific question about National Bank rates, products, or eligibility? A licensed broker will review your question and be in touch.