New collaboration features exclusive cash
back offers and a convenient financing solution
TORONTO, Sept. 22,
2022 /CNW/ - Today, Royal Bank of Canada (RBC) and Lowe's Canada announced their joint strategic
initiative to help Canadians obtain more value from their home
improvement products and services. Lowe's Canada is the latest major retailer to join
Canada's largest proprietary
rewards program–Avion Rewards–to deliver exclusive offers to
eligible Avion Rewards members. Launching later this fall,
the collaboration will also include a flexible financing option to
help Canadians pay for their purchases, whether or not they bank
with RBC.
"We're continuing to see strong demand within the home
improvement and DIY renovation space as Canadians look to enhance
their property value and quality of living," said Niranjan Vivekanandan, Senior Vice-President,
Loyalty & Merchant Solutions, RBC. "We're excited to
collaborate with Lowe's Canada –
one of Canada's most prominent
home improvement retailers – to help Canadians realize savings and
provide more ways to finance their renovation projects so they can
turn their home improvement vision into reality."
Starting today, shoppers can use their RBC debit or credit card
to earn cash back in the form of statement credits at all Lowe's,
RONA and Réno-Dépôt corporate stores across Canada and online to immediately access the
following offers:
- Personal banking clients will receive 10% cash back on the
first $250 of their total spend,
followed by 5% cash back on their next $1,250 of total spend (a total value of
$87.50).
- Business banking clients will receive 5% cash back on the first
$3,000 of their total spend (a value
of $150).
- Canadians who apply for a new RBC credit card through Lowe's,
RONA and Réno-Dépôt corporate stores or online will receive 10%
cash back on all purchases for the first 12 months at Lowe's
Canada's banner locations, up to
$1,000 in total spend (a total value
of $100). Additionally, once clients
have achieved their $1,000 in total
spend, they will be eligible to receive a 1% cash back offer on all
purchases.
To start saving, clients can sign-in to RBC Online Banking, the
RBC Mobile app or the Avion Rewards app to load their offers to
their RBC debit or credit card before they shop. Once they make a
purchase and pay with their RBC card, their cash back savings will
be credited to their account.
In the coming months, eligible customers will also have a more
flexible payment option at checkout, both in-store and online with
Lowe's, RONA and Réno-Dépôt. PayPlan by RBC will be available
at participating stores, offering a wide range of transparent
terms, no late fees and greater payment flexibility. Lowe's, RONA
and Réno-Dépôt customers will soon have the option to use
PayPlan by RBC to help them break down larger purchases and
pay in installments.
"Bringing great value to our customers is an everyday priority
for our teams, especially in the current environment. We are
thrilled to partner with RBC to help Canadians get even more bang
for their buck, thanks to the strength of our combined networks.
This partnership will not only make it easier for our customers to
access financing for their projects, but it will also create
savings for them, making families' dreams for their homes even more
accessible," said Tony Cioffi,
President of Lowe's Canada.
For full offer details, please visit www.rbc.com/lowes,
www.rbc.com/rona and www.rbc.com/renodepoten to learn
more.
About Lowe's Canada
Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50
home improvement company serving approximately 19 million customer
transactions a week in the United
States and Canada. With
fiscal year 2021 sales of over $96
billion, Lowe's and its related businesses operate or
service nearly 2,200 home improvement and hardware stores and
employ over 300,000 associates. Based in Boucherville, Quebec, Lowe's Canadian
business, together with its wholly owned subsidiary RONA inc.,
operates or services some 450 corporate and independent affiliate
dealer stores in a number of complementary formats under different
banners, which include Lowe's, RONA, Reno-Depot, and Dick's Lumber.
In Canada, they have more than
26,000 associates, in addition to approximately 5,000 employees in
the stores of independent affiliate dealers operating under the
RONA banner. For more information, visit lowescanada.ca.
About RBC
Royal Bank of Canada is a
global financial institution with a purpose-driven, principles-led
approach to delivering leading performance. Our success comes from
the 92,000+ employees who leverage their imaginations and insights
to bring our vision, values and strategy to life so we can help our
clients thrive and communities prosper. As Canada's biggest bank and one of the largest
in the world, based on market capitalization, we have a diversified
business model with a focus on innovation and providing exceptional
experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn
more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/community-social-impact.
SOURCE RBC Royal Bank