In an effort to support consumers in the wake of COVID-19, the Royal Bank of Canada (RBC) recently announced the new Client Relief Program. The initiative includes reduces credit card interest charges by 50 percent for cardholders who are getting their minimum payment on the credit card deferred. Once customers have an advisor complete a financial review, consumers will be eligible for a 50% credit for any interest accumulated during the deferment period. The program also includes mortgage support, auto finance loans, and lines of credit, among others.
To facilitate meeting with an advisor during new social distancing regulations, RBC launched an online booking tool that enables customers to virtually meet advisors in the safety of their homes.
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