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Manage Your Own Credit - Easily
Use your Royal Credit Line for everyday expenses, home renovations, investments, to pay off other, higher interest debts and more.
In fact, even if you don't need to borrow right now, it may make sense to apply for a Royal Credit Line today. Once your line of credit has been established you can relax knowing you are ready for emergencies or unplanned expenses.
An RBC Royal Bank credit specialist can help you choose from the two options available.
| Secured Line of Credit |
Unsecured Line of Credit |
| Use the equity in your real estate holdings, or guaranteed investments to secure a higher credit limit, at a lower interest rate. |
Quick and easy approval process. |
| Credit limit from $5000 to as much as 80% of the equity in your home, less any prior outstanding mortgages†. |
Credit limit from $5,000 to $50,000† - with no security required. |
| Competitive interest rates. |
Competitive interest rate, based on your financial standing. |
| The interest rate on your Royal Credit Line is variable and will rise and fall with changes in the Prime Rate. |
Credit that's Always Available - and Easy to Access
With a Royal Credit Line, you apply once - and you never have to apply again. As long as your account is in good standing, you'll always have credit available to you, up to your credit limit.
You can borrow instantly, at any time. Just write a cheque, withdraw or transfer money at a RBC Royal Bank ATM Machine or use Telephone Banking or Online Banking. An itemized monthly statement keeps you on track, telling you exactly how much you've borrowed and how much you must pay each month.
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Use Royal Online Banking to transfer funds to or from your Royal Credit Line - 24 hours a day, 7 days a week. |
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Revolving Credit that You Can Use Again and Again
As soon as you repay any of the credit you've used, it immediately becomes available to you to use again. You're in complete control, able to borrow when you need to, without having to reapply every time.
Structured to Meet Your Needs
Royal Credit Line offers you a wide range of payment options to suit your needs. You can set up a fixed payment schedule to include principal and interest (blended payment), pay interest only on a monthly basis with principal payments at your discretion, or have the principal payments scheduled for your budgeting ease. Choose a payment schedule that best suits your needs. The blended or principal payment schedule, they can be set to monthly, bi-monthly, bi-weekly or weekly.
The only requirement is that you repay the interest owing each month, but you can pay more at any time without penalty.
No Administration or Service Fees on Your Unused Credit
All you pay is interest on the credit you use. Your Royal Credit Line even allows you to write up to 2 personal cheques per statement cycle at no additional charge. (There is a fee of $2 for each additional cheque - and a charge for cheque orders that varies, depending on the design and quantity of cheques you choose.)
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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Take control of your credit. Apply for a Royal Credit Line now or talk to an RBC Royal Bank credit specialist. |
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† Royal Credit Line accounts are available to clients who meet RBC Royal Bank standard credit criteria.
This is a general description of Royal Credit Line; for more information and product details, call us at 1-800-769-2511.
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