Finance & Economics

Canadian banks provide flexible solutions due to coronavirus

Canadians who are facing difficulties are encouraged to contact their banks

Canadian banks

Canadian banks provide flexible solutions due to COVID-19 outbreak. Source:

According to RBC report, Canada’s six largest banks announced plans to provide financial support to customers impacted by COVID-19.

This way, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank, and TD Bank have made a commitment to work with clients on a case-by-case basis to provide flexible solutions.

The banks are going to help them manage through pay disruption due to COVID-19 or childcare disruption due to school closures. Besides, they will provide assistance to those facing illness from COVID-19.

What is more, the customers will get a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.



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