Are you making a Large Purchase? Is it your First time Borrowing? RBC has a loan to meet your needs.
Whether you are borrowing to purchase that new car, boat, or recreational vehicle; or whether you need to furnish your first apartment; you will want to pay off your loan before the item you have purchased loses all its value. A Fixed or Variable rate loan can help you increase your net worth by paying off your debts quicker. Flexible repayment terms, diverse payment options, and the knowledge that your monthly payment remains consistent give you greater peace of mind. Let a Fixed or Variable Rate Personal Loan be the ideal solution for making your large or small purchases, or increasing your investments. A credit specialist can help you choose the option that suits you best.
Do you have unused contribution room in your RRSP? Would you like to borrow to make an Investment? Find out more about RBC RRSP Personal Loans.
| Fixed Rate Personal Loan |
Variable Rate Personal Loan |
| The interest rate is fixed for the full term, so you know exactly how much interest you'll pay and protect you from increased expense during a rising rate environment. |
The interest rate fluctuates with our Prime Rate, so you can save when interest rates fall. |
| Your payment amount and term are unaffected by changes in interest rates. |
If interest rates rise, your payments will likely stay the same, but your amortization term will increase to account for the higher rate.
If interest rates fall, your payments stay the same and your amortization term will decrease - so your loan is paid off faster!
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| You can switch to variable rates at any time if rates fall. |
You can switch to fixed rates at any time if rates rise. |
It's Your Choice
With an RBC Royal Bank Personal Loan, you can choose a term of up to 7 years to suit your needs
You can select from a wide range of payment options - monthly, semi-monthly, bi-weekly or weekly - deducted automatically from your chequing account.
You can pay more than your fixed payment at any time - or even pay off your loan in full - without penalty.
What will your monthly payments be? Use our convenient Payment Calculator.
Protect Your Dreams
Whether your dream is a new car, vacation or home renovation, it's important to protect it from the unexpected. LoanProtector® Life and Disability Insurance offers just the solution. Designed to provide financial back up during difficult times, it provides low-cost, valuable protection for you and your family.
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Manage your RBC Royal Bank Personal Loan with RBC Royal Bank Online Banking
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Check your balance, make additional payments - and even skip up to the equivalent of 1 monthly payment each year1. Do it all online, any time of the day or night, any day of the week. |
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1. The principal and interest portion of any skipped payment will remain outstanding until the end of the term of your loan at which time the skipped payment must be repaid. Interest will continue to accrue upon the total amount of the skipped payment until such time that the skipped payment is repaid in full. You may repay the skipped payment at any time.
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