# Payment Calculator: Semi-Annual Compounding + Schedule

> Canadian mortgage payment with semi-annual compounding, the amortization schedule, and what each payment frequency costs.

Category: Calculator
Last verified: 2026-08-02
Source: https://ratellow.com/mortgages/payment-calculator

## TL;DR
- Canadian fixed-rate mortgages compound semi-annually (Interest Act), not monthly. Dividing the annual rate by 12 overstates the periodic rate.
- Accelerated bi-weekly halves the monthly payment and charges it 26 times — one extra monthly equivalent per year, all to principal.
- Plain bi-weekly spreads the same annual cost across 26 payments and does not shorten the amortization.