RBC offers several ways to pay down your mortgage faster. First, they allow you to choose the payment schedule that works best for you — monthly, semi-monthly, bi-weekly, weekly, accelerated bi-weekly, or accelerated weekly. Moreover, you can choose the day of the week or date of the month your mortgage payment is due.
Second, you can make double-up mortgage payments applied directly against the principal balance of your mortgage. Doubling up your payments helps reduce the life of your mortgage and save interest costs.
Third, RBC enables you to make annual principal payments to cut down the life of your mortgage and save interest costs.