Variable and fixed rates - together at last.
If you are a homeowner with at least 20% equity in your home, the RBC Homeline Plan could be the right choice for you.
Mortgage rates fluctuate and it's hard to know whether you should choose low short-term rates or more secure long-term rates. The RBC Homeline Plan is a customized mortgage - that's the best of both worlds. To learn more about the benefits of RBC Homeline Plan click on the ad below:
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Sit back, relax and take a few minutes to watch the RBC Homeline Plan video -
a smart, easy way to manage all your borrowing needs!
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With the RBC Homeline Plan, you can enjoy the advantages of both variable and fixed rates by diversifying your mortgage. That means the variable portion allows you to take advantage of today's low interest rates, while the fixed rate portion protects you if rates rise.
The RBC Homeline Plan. When people get it, they want it.
Manage all your borrowing needs under one simple, flexible plan
With the addition of a Prime1 Rate line of credit, RBC Homeline Plan is a smart and easy way to manage all your borrowing needs under one simple plan. Consolidate any higher interest debt into your Prime Rate line of credit to enjoy immediate monthly savings. And, as future needs arise (like home renovations, a child’s education or a much needed vacation), you have the funds available at a low interest rate.
How does it work?
The chart below illustrates just one example of how the RBC Homeline Plan might work for a typical Canadian homeowner with a mortgage, car loan, line of credit and outstanding credit card balances:
** Interest rates are for illustrative purposes only and may not be the same as interest rates currently offered.
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See how Randy and Neil used the RBC Homeline Plan to manage their borrowing needs!
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Easy to access low-interest credit when you need it
Through the RBC Homeline Plan, you can access funds from your Royal Credit Line(s) through RBC Royal Bank Online Banking, by writing a cheque, or making a withdrawal at any ATM.
The money is yours to use any way you wish - home renovations, tuition, travel, a vacation home and more. As you pay down your mortgage balance(s) your Primary Royal Credit Line limit automatically increases, providing you with access to additional credit whenever you need it, without having to re-apply!
Plus you can consolidate any existing debts in your line of credit, under a lower interest rate. Saving you money on your borrowing.
Protect yourself and your family
It's easy to get the security you need with HomeProtector® Insurance. Our low cost solutions will help you ensure that your RBC Homeline Plan and your RBC mortgage are paid in full in the event of your death and that your regular payments are made if you become disabled.
Mortgage Features
We have many mortgage options designed to help save interest costs and meet your personal financial requirements.
1 Our Variable Prime Rate is the annual rate of interest announced from time to time by us as a reference rate then in effect for determining interest rates on Canadian dollar commercial loans in Canada.
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You can now sign up to receive your RBC Homeline Plan electronic statements through RBC Online Banking. Electronic statements give you safe, secure access to all the information you receive today in your paper statements – but in a more convenient form. |
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