Flexible Banking Solutions

Private sector banks and credit unions in Canada 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. The banks taking part in providing financial relief include:

Bank of Montreal (BMO)

  • The Bank of Montreal is allowing up to a six-month payment deferral on mortgages, loans, credit cards, and lines of credit with no fee (payment will be deferred but interest will continue to accrue) and no changes to the terms of your BMO account.
  • Those who are concerned about missing a payment are to sign into BMO Online Banking and send a request through the safe and secure Message Centre.

National Bank of Canada

  • Like the other banks, the National Bank of Canada may offer payment deferrals of up to six months on mortgages, or longer amortization periods for both personal and commercial banking clients.
  • Customers are asked to get in touch with their personal banking representative.

RBC Royal Bank

To help business clients with immediate relief, some of RBC Royal Bank’s programs offer:

  • Waiving of credit card minimum payments
  • Business loan payment deferrals.
  • Increases to operating line of credit limits.
  • Waived fees for new enrollments to cash management solutions.

Please contact your advisor or call RBC Royal Bank’s Advice Centre at 1-800- ROYAL-20 to discuss your options or to use the online booking tool to schedule a time to speak by phone


  • CIBC Support for their customers include up to a six-month payment deferral for mortgages and the opportunity for relief on other credit products
  • As inquiries are at a higher volume than usual, CIBC have expanded their dedicated call centre team with small business lending experts who are ready to assist small businesses with payment deferral and other measures.

TD Bank

TD Bank Business Customers can request:

  • to defer the equivalent of up to four monthly principal payments on your business term loan and up to six months on your real estate secured business term loan:
  • opportunity for relief on other credit products on a case-by-case basis
  • new or additional credit for your business to help you with cashflow challenges.

Applications are only being accepted online


  • Scotiabank will work with you, individually, to offer advice and assistance with liquidity and financial covenant relief, including temporary lending payment deferrals or other forms of short-term support to customers who meet required qualifications.
  • If you are a business customer please contact your Small Business Advisor or Branch Manager, if your business is experiencing financial hardship as a result of COVID-19.