Overview
Interior Savings Credit Union is a prominent local lender in British Columbia, offering a variety of mortgage products tailored to residents in the Okanagan and Thompson regions, including Kelowna, Penticton, and Kamloops. Their mortgage offerings include competitive fixed and variable rate options, cashback mortgages, and specialized loans for unique property types.
Current Interior Savings Mortgage Rates (July 2025)
The most recent rates available for Interior Savings Credit Union are as follows:
| Term | Type | Rate |
|---|
| 5-Year Insured | Fixed | 4.14% |
| 5-Year (Standard) | Fixed | 4.54% |
| 4-Year (Standard) | Fixed | 4.39% |
| 3-Year (Standard) | Fixed | 4.39% |
| 1-Year (Standard) | Fixed | 5.64% |
| 4-Year Cashback | Fixed Closed | 5.54% |
| 5-Year Cashback | Fixed Closed | 5.59% |
- Cashback mortgages: Offer 5% of your mortgage amount as cash, but the rate is 1% higher than standard fixed rates.
- Insured rates: Typically lower, available when your down payment is less than 20% and mortgage default insurance is required.
Note: Rates are subject to change and can vary based on individual circumstances and product selection. Always confirm directly with Interior Savings for the most current rates.
Interior Savings Mortgage Features
- Flexible payment options: Weekly, bi-weekly, and monthly payments
- Prepayment privileges: Ability to increase regular payments and make lump sum payments (check for specific limits)
- Specialty mortgages: Available for recreational properties, mobile homes, lease land loans, and construction mortgages
- Branch network: 23 locations throughout the Okanagan and Thompson regions
How Interior Savings Compares to Other Lenders
| Lender | 5-Year Fixed (Insured) | 5-Year Fixed (Standard) |
|---|
| Interior Savings | 4.14% | 4.54% |
| CIBC | 4.09% | See CIBC for details |
| Beem Credit Union | 4.14% | 4.54% |
| Coastal Community CU | 4.29% | 4.49% |
- Interior Savings' insured 5-year fixed rate is competitive with other local credit unions and slightly higher than some major banks for insured mortgages.
- Cashback mortgage rates are higher due to the additional cash benefit at funding.
Provincial Regulations and Considerations
- British Columbia mortgage laws provide strong borrower protections, including mandatory disclosure of mortgage terms and a 21-day notice period before renewals.
- Cancellation of optional services (like mortgage insurance) within 30 days entitles you to a refund for amounts paid.
First-Time Homebuyer Programs
- Interior Savings participates in BC’s First Home Advantage Program, which offers low-interest loans up to $25,000 for down payments.
- Other government incentives include:
- First-Time Home Buyer Incentive (federal, shared equity program)
- Home Buyers’ Plan (HBP), allowing RRSP withdrawals for down payments
- BC First-Time Home Buyers’ Program (land transfer tax exemption)
Actionable Next Steps
- Compare rates and options: Use platforms like theratefinder to compare mortgage rates across Canadian lenders, including Interior Savings, for residential, commercial, and construction financing.
- Personalized application: For a tailored mortgage solution and access to competitive rates from top Canadian lenders, start your application at theratefinder.ca/onboarding.
- Consult Interior Savings directly: Visit a local branch or contact a mortgage specialist for current rates and personalized advice.
Summary
Interior Savings offers competitive mortgage rates in BC, with special products for local buyers and flexible features. Their 5-year insured fixed rate is currently around 4.14%, aligning with leading credit unions in the province. They also offer cashback mortgages and first-time buyer support. Always compare rates using trusted platforms like theratefinder and consult with a mortgage expert to ensure you secure the best mortgage for your needs.