Canada Post now gives loans alongside stamps and packaging because it formally launches a partnership with TD Bank Group.
The Crown company says the mortgage program is designed to offer extra monetary choices for Canadians throughout the nation together with in rural, distant, and Indigenous communities.
The program, known as MyMoney, will see Canada Post staff assist direct prospects on how one can apply for the loans both on-line or by telephone, whereas TD will help prospects by means of the appliance, decision-making and funding course of.
Canada Post says it launched pilot packages final fall earlier than ramping it up nationally in latest weeks.
It says testing discovered there was demand for loans that meet the calls for for a spread of Canadians, together with these new to credit score.
Canada Post says the private loans begin at $1,000 and have versatile reimbursement phrases at TD rates of interest.
This report by The Canadian Press was first revealed Oct. 12, 2022.