TD Canada Trust Offers 4-year Closed Special Mortgage Fixed Rate Of 2.99% Along With Flexibility For Homebuyers

- Flexibility is as important as affordability-

TORONTO, March 8, 2012 /CNW/ - TD Canada Trust is offering a four-year special mortgage fixed interest rate of 2.99%, effective March 9th, 2012. This complements its flexible mortgage payment features, which allow qualifying homebuyers to:

• Pay down their mortgage ahead of schedule and have the flexibility to  reduce their payments later, for up to four months;
• Pay down their mortgage ahead of schedule and have the flexibility for a payment break later, for up to four months; or
• Pay down their mortgage on schedule and have the flexibility to defer or reduce a payment later.

"With all the available special offers in the market, consumers may be tempted by simply choosing the lowest rate," said Farhaneh Haque, Director, Mortgage Advice, TD Canada Trust. "However, for many customers, the best mortgage offer may be the one that recognizes that life isn't always predictable and that provides them with flexibility to accommodate their circumstances."

Flexible mortgage payment features mean that qualifying customers can pay their mortgage ahead of schedule and have the comfort of knowing that if circumstances change in the future, they may have the flexibility to modify their payments for up to four months.

"Many of our customers are serious about paying off their mortgage as soon as they can, in fact, nearly half of our customers are ahead of scheduled payments," added Haque. "TD is committed to making it easy for customers to do so and that's one reason why we offer flexible features as well as affordable rates."

Note: Special interest rate calculated semi-annually, not in advance. This rate is a discount off of posted rate and is only available on new mortgage applications made until March 30th, 2012. Mortgage must be funded by May 31st, 2012.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD). TD is the sixth largest bank in North America by branches and serves approximately 21.5 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; Wealth and Insurance, including TD Waterhouse, an investment in TD Ameritrade, and TD Insurance; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank, and TD Auto Finance U.S.; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with approximately 8 million online customers. TD had CDN$774 billion in assets on January 31, 2012.The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges. 

For further information:

Mohammed Nakhooda
TD Bank Group
[e-mail]
416-983-8622

Barbara Timmins
TD Bank Group
[e-mail]
416-307-6498