COVID-19

About coronaviruses

Coronaviruses are a large family of viruses. Some cause illness in people and others cause illness in animals. Human coronaviruses are common and are typically associated with mild illnesses, similar to the common cold. COVID-19 is a new disease that has not been previously identified in humans. Rarely, animal coronaviruses can infect people, and more rarely, these can then spread from person to person through close contact.
 

How Canada is responding to COVID-19

For detailed information on Canada's whole-of-government actions to respond to the outbreak, refer to the Government of Canada's response to COVID-19.
 

Economic and financial support

To learn more about Canada’s actions to help Canadians and businesses facing hardship as a result of the COVID-19 outbreak, refer to Canada’s COVID-19 Economic Response Plan.
 

FEDERAL SUPPORT

Federal Parliament passed C-13, the COVID-19 Emergency Response Act, to accomplish what is suggested in the bill’s title. Most impactful among the measures is a new Canada Emergency Response Benefit, which will provide $2,000 a month for up to 4 months to:
 

workers who must stop working due to COVID-19 and do not have access to paid leave or other income support.

workers who are sick, quarantined, or taking care of someone who is sick with COVID-19.

working parents who must stay home without pay to care for children that are sick or need additional care because of school and daycare closures.

workers who still have their employment but are not being paid because there is currently not sufficient work and their employer has asked them not to come to work.

wage earners and self-employed individuals, including contract workers, who would not otherwise be eligible for Employment Insurance.

Canadians can make application through a secure web portal set to launch in early April, with benefits received within 10 days of application submission.

Support for individuals and families:
• Temporary salary top-up for low-income essential workers
Increasing the Canada Child Benefit
Special Goods and Services Tax credit payment
Extra time to file income tax returns
Mortgage support
 
Support for people facing unemployment
• Apply for Employment Insurance
 
 
Support for people who are sick, quarantined, or in directed self-isolation
• The new Canada Emergency Response Benefit (CERB)
• Improved access to Employment Insurance sickness benefits
 
Support for people who are unable to work
• The new Canada Emergency Response Benefit (CERB)
 
Support for people who need it most
• A new Indigenous Community Support Fund
• Enhancing the Reaching Home initiative
• Support for women’s shelters and sexual assault centres
 
Support for seniors
• Reduced minimum withdrawals for Registered Retirement Income Funds
 
Support for students and recent graduates
• A moratorium on the repayment of Canada Student Loans
 

Lowest Rates* in Canada

Lowest Rates* in Canada
Term Our Rate Bank Rate
3 Year Fixed 2.04% 3.49%
5 Year Fixed 2.09% 3.59%
5 Year Variable 1.99% 3.00%
10 Aug 2020

Updated: August 01, 2017

Rates may vary between geographic regions and the posted rates on this website may not be available in your area. Please contact your local CENTUM office for more details.


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