Loans Interest Rate

The interest rate for Seniors Property Tax Deferral and Seniors Home Adaptation and Repair Program (SHARP) loans is reviewed and may be adjusted twice a year in April and October.

Current interest rate*

  • Period:  April 1, 2017 - September 30, 2017
  • Interest Rate: 2.70%

Past interest rates

  • Period:  October 1, 2016 - March 31, 2017
  • Interest Rate: 2.70%

  • Period:  April 1, 2016 - September 30, 2016
  • Interest Rate: 2.70%

  • Period:  October 1, 2015 - March 31, 2016
  • Interest Rate: 2.70%

  • Period:  April 1, 2015 - September 30, 2015
  • Interest Rate: 2.85%

  • Period:  October 1, 2014 - March 31, 2015
  • Interest Rate: 3.0%
     
  • Period: April 1 - September 30, 2014
  • Interest Rate: 3.0%
     
  • Period: October 1, 2013 - March 31, 2014
  • Interest Rate: 3.0%
     
  • Period: April 1 - September 30, 2013
  • Interest Rate: 3.0%

Interest charges

Seniors Property Tax Deferral Program — Simple interest charges start on the date that the program pays your property taxes to the municipality on your behalf, and end when the loan is repaid in full.

Seniors Home Adaptation and Repair Program (SHARP) interest charges start on the date that the program deposits your loan into your bank account.

Loan statements are sent twice a year in April and October. Interest charges are used to recover the costs of operating the program and providing loans.

Questions?

Call the Alberta Supports Contact Centre at 1-877-644-9992 (780-644-9992 in Edmonton).

*Note: The Minister of Seniors and Housing, in consultation with the Minister of Treasury Board and Finance, periodically determines the rate of interest applicable to both the property tax deferral loans and the Seniors Home Adaptations and Repair loans based on an estimate of the government’s cost of funding property tax deferral loans, including the cost of making and administering the loans.