Save Money, Reduce Your Debt, Make it More Convenient

Good credit management is all about making sure you have the right borrowing options for your unique needs. By consolidating the different borrowing options you are currently using, you can quickly and conveniently eliminate all your debt — and save on interest payments.

Working with an RBC Royal Bank credit specialist, you can explore different options and choose the ones that are best suited to you.

RBC Royal Bank Personal Loan	Royal Credit Line®
A set schedule of payments to help eliminate debt.	Revolving credit that can save you money on interest and put you in control of your borrowing.
The ideal solution if you want to consolidate all your credit into a single loan — at an attractive interest rate — in order to pay down all your debt.	Credit you can use again and again to pay off other, higher interest borrowing and manage your cash flow. The optional set payment schedule makes it easier to pay down your outstanding balance.
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The Key Benefits of Consolidating Your Debt

Lower monthly payments

When you consolidate your debts, you may find yourself paying a lower overall interest rate than the combined rates on all your debts. You could also extend your term to reduce your monthly payments even further. Remember, even if you do extend your term, you can always pay more than the minimum monthly payment at any time.

Save on credit card interest

Include your outstanding credit card balances in your debt consolidation and you could reduce your interest rate quite substantially, depending on the rates charged by your cards.

Leverage the equity in your home to save even more

Using the equity in your home to secure your consolidated debt will typically mean an even lower interest rate. With the appreciation in home values over the last few years, this option could make sense for many people.

One monthly payment

Consolidating your debt can greatly simplify your financial life.

Have your debt in one place

Centralizing your debt at one financial institution will save you time in your day to day banking. RBC offers a selection of borrowing options along with 24 hours 7 days a week access through on-line and telephone banking to view and transact as needed.

RBC Royal Bank Personal Loans

Let us tailor a solution that will help you eliminate your debt load by consolidating all your debts into a single RBC Royal Bank Personal Loan. Pay it off monthly, weekly or biweekly, over a repayment term that balances your cash flow needs with your goal of being debt free. You have the option of either fixed or variable rates, can pay more at any time without penalty — and can even skip up to the equivalent of 1 monthly payment each year.

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Royal Credit Line

Instead of paying off all your different outstanding debts — and paying high interest rates on some of them — use your Royal Credit Line to pay them down. Because it revolves, you can use it again and again, saving on interest and managing your cash flow. An optional set schedule of payments can make it easy to manage your credit line and ensure that you remain in control.

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