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For most Canadian homeowners, the mortgage is the biggest payment of the month. It usually earns nothing. Your lender pulls it by pre-authorized debit, and that is that.
People search for ways to change that, but the options are easy to mix up. This guide sorts out what actually earns cashback or points on mortgage payments in Canada, what it costs, and what to avoid.
Short Answer: The simplest way to earn cashback on mortgage payments in Canada is Neobanc, which pays 0.5% cashback on eligible mortgage payments funded by Interac e-Transfer. You keep your lender and your payment schedule. Credit card workarounds exist, but most lenders do not take cards and third-party fees of around 2.5% or more usually cancel out the rewards. A lender's "cash back mortgage" is a separate product that pays a lump sum upfront, not rewards on each payment.
Most Canadian lenders only accept mortgage payments by pre-authorized debit from a bank account. Card networks charge merchants processing fees, and lenders are not willing to absorb them on large, low-margin payments. Our guide to paying a mortgage with a credit card explains the details.
That means any card-based route runs through a third party that charges a fee.
Fees and features are based on each provider's published information in September 2026. Confirm current terms before you sign up.
Neobanc pays 0.5% cashback on eligible mortgage payments. Here is how it works, based on Neobanc's mortgage cashback page:
Your lender, rate, and payment schedule stay the same. Credit cards are not used for mortgage payments on Neobanc, so there is no card fee and no risk of carrying a balance. There is a daily transfer limit of $10,000 per user. Neobanc is registered with FINTRAC as a Money Services Business and is PCI-DSS compliant.
Chexy is known for card-funded rent and bill payments. According to Points Miles and Bling's August 2026 review, Chexy's mortgage payments work from a chequing account rather than a credit card and earn Aeroplan points. Terms, fees, and membership requirements can change, so check Chexy's site before signing up. Chexy doesn't pay ongoing cashback on payments itself, though it periodically runs promotions, such as Aeroplan bonus points, and offers referral rewards.
Some bill payment services let you charge a card and send the money to a payee. Fees are commonly in the range of 2.5% to 3%. On a $2,500 payment, that is $62.50 to $75 each month.
To break even, your card would need to earn more than the fee on that transaction, which few cards do. And if you carry the balance, credit card interest will cost far more than any reward.
Some banks offer "cash back mortgages" that pay you a lump sum, often a percentage of the mortgage, when the loan funds. It sounds similar, but it is not a reward on your payments.
Read is a cash back mortgage worth it and cash back mortgage vs a lower rate before choosing one.
Cashback helps, but interest is still the biggest cost. Combine rewards with smarter mortgage moves:
Most ways to earn rewards on a Canadian mortgage either cost more than they earn or are not really rewards at all. Neobanc is the most direct option: 0.5% cashback on eligible mortgage payments, funded by free Interac e-Transfer, with no change to your lender. On a $2,500 payment, that adds $150 a year for a bill you already pay.
For more ways to cut costs, read how to save money on your mortgage in Canada.
Yes. Neobanc pays 0.5% cashback on eligible mortgage payments, funded by Interac e-Transfer. You keep your lender and payment schedule, and no credit card is used.
Few do in practice, because most Canadian lenders do not accept credit cards. Card rewards on a mortgage usually require a third-party payment service with fees of around 2.5% to 3%, which tends to cancel out the rewards. Neobanc offers 0.5% cashback on mortgage payments without a credit card.
On a $2,500 monthly mortgage payment, 0.5% cashback is $12.50 a month or $150 a year. On $1,500, it is $7.50 a month or $90 a year.
No. Neobanc sends your payment by Interac e-Transfer into the bank account your lender already debits. Your lender, rate, and schedule stay the same.
No. A lender cash back mortgage pays a one-time lump sum when the mortgage funds, often with a higher rate and repayment if you break the mortgage. Payment cashback, like Neobanc's 0.5%, is earned on each eligible payment.
Fund your Neobanc wallet by Interac e-Transfer at least three business days before your mortgage due date. There is a daily transfer limit of $10,000 per user. Neobanc is registered with FINTRAC as a Money Services Business and is PCI-DSS compliant.
Yes. Landlords can earn 0.5% cashback on eligible mortgage payments through Neobanc, and can also join Neobanc's free Landlord Partner Program to earn a monthly referral reward on referred tenants' rent payments.
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