Today's Date: January 26, 2021 Officially Launches with an Exciting Mix of Dog and Cat Products and an Expanding Selection of New and Innovativ   •   Alaxo Airway Stents and Healthy Trucking of America Ink Partnership: Professional Drivers Access Nasal Breathing Solution for Sn   •   Meredith Corporation Names Diane L. Parker Vice President Of Diversity And Inclusion   •   Hispanic Public Relations Association Announces National Board of Directors for 2021-2022   •   The Curvy Fashionista Presents The Cultivate Award with Founding Sponsor ELOQUII   •   Blue Yonder, Coresight Research Finds 65% of Retailers Established or Expanded Domestic Manufacturing Due to COVID-19   •   Minwax® Announces Vintage Blue, a Comforting and Nostalgic Hue, as 2021 Color of the Year   •   Navy Veteran Sets World Record for the Longest Full Body Contact With Ice   •   ZF Launches Series Production for new EV Braking System   •   The BlackNorth Initiative Announces Newly Appointed Members to the Board of Directors   •   Award-winning Journalist and Marketing Executive Dwann K. Holmes, Offers a No Holds Barred Demystification of Marketplace Minist   •   VirgoCX Successfully Concludes Crypto for Charity - A Holiday Fundraiser in Support of SickKids Foundation   •   The National Military Spouse Network Releases Third Annual White Paper on Military Spouse Employment   •   As Women Struggle With COVID-Related Anxiety, Lionrock Prepares for Influx in Alcohol Recovery Program Enrollment In 2021   •   Compassion International Achieves Level One Certification in Child Protection   •   No7 Launches ‘Unstoppable Together’ in the U.S. – With the ‘SHEcovery’ as First Priority to Get Wo   •   Heirloom Bridges Generational Digital Divide with 'Happy 100' Campaign   •   InventHelp Inventors Develop Modified Potty-Training Seat for Children (WDH-2626)   •   Distilled Spirits Council of the United States Launches DISCUS Academy   •   Citizens for a Pro-Business Delaware Launches Grassroots Canvassing Campaign to Engage Citizens to Advocate for Diversity on Del
Bookmark and Share

National Bank Announces New Support Measures and a Special Approach for Seniors

National Bank Announces New Support Measures and a Special Approach for Seniors

Canada NewsWire

MONTREAL, April 3, 2020 /CNW Telbec/ - National Bank is announcing new measures for mortgage loans, credit cards and everyday banking transactions to support its clients dealing with the exceptional circumstances caused by COVID-19.

National Bank is doing three important things for its clients with these measures:

  • Compensating them for the additional interest charged if they defer their mortgage payments, thereby eliminating the interest payment on the interest incurred as a result of the deferral.
  • Reducing the impact of interest charges on credit cards for clients who requested a deferral and who are most affected by this crisis.
  • Waiving certain banking fees temporarily.

National Bank is also launching a special measure for seniors. The Bank will write to all its clients who are aged 75 or older, and/or living in a long-term care facility or in a seniors' residence to make sure they have all the information they need at hand. We'll be implementing a process in our call centres to prioritize their calls, starting next week.

"In the past few weeks, we've helped tens of thousands of clients by offering them relief measures, payment deferrals and valuable advice and support. Our employees are handling every single request with the utmost care," said Lucie Blanchet, Executive Vice-President – Personal Banking and Client Experience at National Bank. "The measures announced today, which will be added to those already in place, will allow us to offer extra help to people who need it most, especially seniors."

The main measures announced are as follows. Please consult the relevant pages on our website at for details on each measure.

Mortgage loans 

We'll be refunding interest charges: A few weeks ago, we introduced a mortgage payment deferral measure. Today, we're making a commitment to compensate all clients who defer their mortgage loan payments for the additional interest incurred during the deferral period. The amount will vary based on the mortgage balance and interest rate.

Credit cards 1

  • We'll defer monthly payments: clients can ask to defer their minimum monthly payments on their National Bank Mastercard credit card by up to 90 days.
  • We'll reduce interest rates: We will temporarily reduce the annual interest rate on credit cards to 10.9% for all credit card holders who have been granted a payment deferral, based on their financial situation.
  • We offer one of the lowest interest rates: The Syncro credit card offers one of the best annual interest rates on the market—currently 8.9% on purchases.
  • Clients can pay their balance with points: Several of our credit cards allow clients to use their rewards points to pay all or part of their account balance.

Everyday banking

We are temporarily waiving the following fees:

  • Interac e-Transfers: We're waiving the $1 fee for clients who don't have a banking package.
  • Stop payments on cheques and pre-authorized debits: We're waiving the $16/$30 fee.
  • Overdraft interest on chequing accounts and High Interest Savings Accounts will not be charged.

Related links

About National Bank of Canada

With $289 billion in assets as at January 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at or via social media such as Facebook, LinkedIn and Twitter.



For details, please refer to the page for the appropriate credit card.


SOURCE National Bank of Canada

Back to top
| Back to home page

White House Live Stream
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Sounds Make the News ®
Atlanta - WAOK-Urban
Berkley / San Francisco - KPFA-Progressive
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
Washington - WOL-Urban

Listen to United Natiosns News