FORT ST. JOHN, B.C. – Canada’s six largest banks have announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID-19.
Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges such as pay disruption due to COVID-19.
According to the Banks, support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.
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Individual Canadians or business owners facing hardship are encouraged to contact their bank directly to discuss options that could be available to them.