We’re here to continue to support you and we’ll be reaching out before the end of your deferral period for your mortgage, line of credit and loan to let you know what the next steps are.
If you requested a payment deferral on more than 1 product you hold with us, you’ll receive a separate communication for each deferral request.
For your mortgage
Once your selected deferral period ends, you’ll receive a letter with your specific payment amount and the amount of interest that accrued during the deferral period. Your new payment amount will also be available on Simplii online banking and mobile banking.
Your payments will resume on the schedule and date that was in place prior to the deferral. For example, if your payments were on the first of each month, that will continue to be your payment date; if you were previously paying on a biweekly schedule, that schedule will resume.
This letter will be mailed to you based on your payment cycle.
For your line of credit
You’ll receive a monthly statement showing the due date and the amount of your next minimum payment, including creditor insurance premiums, if applicable.
You can also check your payment amount and due date on Simplii online banking and mobile banking.
For your loan
Your payments, including creditor insurance premiums, if applicable, will resume starting on the payment date provided in the updated Statement of Disclosure that we mailed to you. If you haven’t received this document in the mail, it will be sent to you shortly.
You can also check your payment amount and due date on Simplii online banking and mobile banking.
For your credit card
Once your deferral period ends, you’ll see your minimum payments resume on your monthly statement. If you have CIBC Payment Protector™ Insurance, your CIBC Payment Protector Insurance premiums will continue to be charged to your credit card account as normal and will be included in your outstanding statement balance.
You can also check your minimum payment amount and due date on Simplii online banking and mobile banking.