Financially impacted by COVID-19? Let's find a solution together.

While customers, colleagues, and communities adapt to the new normal, we're ready to provide support and tools to help you move forward during these uncertain times.

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Home Financing
Personal Loans and Lines of Credit
Credit Cards
Auto Loans

Options for your TD Mortgage or TD Home Equity FlexLine Term Portion

If you’re experiencing financial hardship due to COVID-19, here are some possible options to help you move forward if you have a mortgage or TD Home Equity FlexLine. We're ready to help with options to manage your payments or budget cash flow.

Change your payment amount:
If you've been on rapid payments you may be able to adjust your payments to slow down your payment frequency or go to non-rapid payments.

If you've increased your payment amount or made a lump sum payment in the past, you can decrease to your contractual payment requirement.

Both of these options may increase your amortization period but may leave you with a lower mortgage payment. Please talk to your local branch if this option is right for you.
Adjust your payment frequency:
Consider adjusting your payments to a weekly, bi-weekly, or monthly cadence that best aligns with your incoming deposits and other outgoing expenses to better balance your finances throughout the month. You can make changes by visiting your local branch or by calling us.
Use a mortgage payment feature:
If you have an mortgage, you can explore some of our mortgage payment features, like a Payment Vacation or Payment Pause, which may be able to help you manage some of your upcoming payments.
Refinance:
If you have other debts, then refinancing may help you. You may be able to consolidate your mortgage with those debts into a new mortgage or home equity line of credit which typically have lower interest rates. This may help you manage the number of payments you have, as well as the overall payment amount. This option is not for everyone - an important question is whether or not there's a pre-payment charge. Before choosing to refinance make sure you look in to all the benefits and risks and identify if you qualify.

If you've done a COVID-19 payment deferral, before you consider one of these options it's important to talk to us about how that deferral may impact your future payments.

Book an appointment

There may also be other options available to you. To get started, book an appointment at your local branch.

What to do if your COVID-19 payment deferral is ending

Mortgage Payment Deferral

Term Portion Payment Deferral (Principal and Interest)

Term Portion Payment Deferral (Principal Only)

Options for your Personal Loan or Line of Credit

If you’re experiencing financial challenges due to COVID-19, here are some possible options to help you move forward if you have a personal loan or line of credit. We're ready to help with options to manage your payments or budget cash flow.

Extend the amortization period: Extending your amortization period means you will pay off your balance over a longer repayment period. This will increase the overall amount you'll pay in interest but can lower your regular payments. This option may not be for everyone, as you may need to qualify by completing a full application.
Consolidate your debt: Merge higher interest debts (like credit cards, lines of credit, or loans) into one manageable payment. This can be done through consolidating your debt within an existing TD Home Equity FlexLine or through a new TD Debt Consolidation Loan.

Book an appointment

There may also be other options available to you. To get started, book an appointment at your local branch.

What to do if your Personal Loan or Line of Credit Fixed Rate Advantage Option (FRAO) Payment Deferral is ending

As you approach the end of your Loan or Fixed Rate Advantage Option (FRAO) Payment Deferral, remember to consider important information like:

When your deferral period ends on your Loan or FRAO expect to resume your regular payment. It's important to note that your amortization period (the total lifespan of your loan/FRAO) will be extended by the number of payments you chose to defer. You can find the date your payments will resume along with additional cost of borrowing information in the Amendment Agreement that was mailed to you.

Before your payments restart consider reviewing your day-to-day spending and make any adjustments you may need to your budget. If you're able to, consider making a lump sum payment of any amount to help reduce the overall interest you'll pay on your loan or FRAO.

Options for Credit Cards

If you’re experiencing financial challenges due to COVID-19 and are finding it difficult to pay your credit card balance there are some things you can do to try and make your monthly expenses more manageable.

Consolidate your debt: Merge higher interest debts (like credit cards, lines of credit, or loans) into one manageable payment with a lower interest rate. This can be done through consolidating your debt within an existing TD Home Equity FlexLine or through a new TD Debt Consolidation Loan.
Claim your Balance Protection Insurance: If you're enrolled in Balance Protection Insurance, you may be covered in the event of involuntary unemployment or job loss due to layoffs or dismissal without cause. You can refer to your Certificates of Insurance for terms and conditions. If you need to file a claim or you'd like to learn more about Balance Protection Insurance visit the Assurant website.

What to do if your Credit Card Minimum Payment Deferral is ending

As you approach the end of your Minimum Payment Deferral, remember to consider important information like:

If you chose to defer your payments, interest will continue to accrue on your outstanding balance as set out in your Cardholder Agreement and Disclosure Statement and will be payable once the deferral period is over. On month 4, when the deferral period is over, your minimum payment will continue as outlined in your Cardholder Agreement and Disclosure Statement. The 3 months of deferred interest will be added to your outstanding balance. To learn more visit our FAQ page.

Before your payments restart, consider reviewing your day-to-day spending and make any adjustments you may need to your budget. If you're able to, consider making a lump sum payment of any amount to help reduce the overall interest you'll pay on your Credit Card .

To get advice about other options that may be available to you:

Call 1-800-983-84721-800-983-8472

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Financially impacted by COVID-19? Let's find a solution together.

Home Financing

Personal Loans and Lines of Credit

Credit Cards

Auto Loans

Options for your TD Mortgage or TD Home Equity FlexLine Term Portion

Book an appointment

What to do if your COVID-19 payment deferral is ending

Mortgage Payment Deferral

Term Portion Payment Deferral (Principal and Interest)

Term Portion Payment Deferral (Principal Only)

Options for your Personal Loan or Line of Credit

Book an appointment

What to do if your Personal Loan or Line of Credit Fixed Rate Advantage Option (FRAO) Payment Deferral is ending

Options for Credit Cards

What to do if your Credit Card Minimum Payment Deferral is ending

Consumer Loans with TD Auto Finance

Tools and resources to help you manage your finances

Budgeting Tips

TD MySpend

Debt Consolidation Calculator

Cashflow calculator

TD Ready Advice Articles

Things to consider when reviewing your financial goals in the age of COVID-19

Good financial habits to develop

Making sense of day-to-day spending amid COVID-19

Tips to reduce your spending

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