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COVID-19: CIBC says it is offering reduced interest rates on personal credit cards

BY , Apr 3, 2020 10:35 PM - REPORT AN ERROR

CIBC says it is offering reduced interest rates on personal credit cards for Canadians in financial hardship due to the COVID-19 pandemic.

The bank says credit card clients who request to skip a payment and are experiencing financial difficulties will receive a temporary lower annual interest rate of 10.99 per cent.

It says for the 80,000 Canadians who have already received CIBC credit card relief, the temporary lower rate will be retroactively applied to March 15.

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