Canadian lending benchmarks
Bank of Canada & Prime Rates
Compare the Bank of Canada policy rate with the Canadian prime benchmark and prime rates published by Canada’s major banks.
Bank of Canada
2.25%
Policy Rate
Canadian benchmark
4.45%
Canadian Prime Rate
Major Canadian Bank Prime Rates
Current prime rates published by the Big Six banks.
Last checked Sep 15, 2026 8:05 pm GMT+0000
| Institution | Prime Rate | Spread vs BoC | Effective | Source |
|---|---|---|---|---|
| 4.45% | +2.20 pp | Oct 30, 2025 | Source | |
| 4.45% | +2.20 pp | Oct 30, 2025 | Source | |
| 4.45% | +2.20 pp | Oct 30, 2025 | Source | |
| 4.45% | +2.20 pp | Oct 30, 2025 | Source | |
| 4.45% | +2.20 pp | Oct 30, 2025 | Source | |
| 4.45% | +2.20 pp | Sep 15, 2026 | Source |
About the dates: an effective date is the date associated with the published rate, not necessarily the date RateCompute last checked it. A rate can remain unchanged for months while still being current.
Policy rate vs. prime rate
The Bank of Canada policy rate is a key monetary-policy benchmark. Bank prime rates are lending reference rates set by individual financial institutions and are commonly used to price variable-rate loans and lines of credit.
What does “spread vs BoC” mean?
The spread is the difference, in percentage points, between a bank’s prime rate and the current Bank of Canada policy rate. It is calculated automatically from the rates in the RateCompute database.
Rates are provided for comparison and informational purposes. Always confirm the applicable rate and product terms with the financial institution.