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The RBC Homeline Plan® – A Smarter Way to Borrow For Your Needs

With a lower interest rate than a line of credit or credit card, the RBC Homeline Plan could help you save hundreds of dollars in interest charges! Whether you’re buying a new home or renovating your existing one, getting a new car, or borrowing for your child’s education or your retirement plans, it’s a smart easy way to manage all your borrowing needs. Switching to an RBC Homeline Plan allows you the flexibility to meet your future needs as they evolve.

 
ErrorAttention: Please review the items below to continue your application.
  • Amount you would like to borrow - The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $100,000.
  • Number of years to repay - The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 10 years.
 
 
ErrorAttention: Please review the items below to continue your application.
  • Amount you would like to borrow - The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $250,000.
  • Number of years to repay - The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 
 
ErrorAttention: Please review the items below to continue your application.
  • Amount you would like to borrow - The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $100,000.
  • Number of years to repay - The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 10 years.
 
 
ErrorAttention: Please review the items below to continue your application.
  • Amount you would like to borrow - The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $200,000.
  • Number of years to repay - The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 
 
ErrorAttention: Please review the items below to continue your application.
  • Amount you would like to borrow - The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $200,000.
  • Number of years to repay - The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 
 
ErrorAttention: Please review the items below to continue your application.
  • Amount you would like to borrow - The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $250,000.
  • Number of years to repay - The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 

What is your Borrowing Need?

 

Car Tip:

A typical repayment term for this type of borrowing need is 5 years. You may wish to consider structuring your RBC Homeline Plan repayment to a similar or lesser term to minimize your interest costs.

 
 

Home Renovation Tip:

A typical repayment term for this type of borrowing need is 10 years. This is dependent on the size of your renovations as well. You may wish to consider structuring your RBC Homeline Plan repayment to a similar or lesser term to minimize your interest costs.

 
 

RRSP Tip:

A typical repayment term for this type of borrowing need is 5 years. You may wish to consider structuring your RBC Homeline Plan repayment to a similar or lesser term to minimize your interest costs.

 
 

Non-Registered Investment Tip:

A typical repayment term for this type of borrowing need is 10 years. You may wish to consider structuring your RBC Homeline Plan repayment to a similar or lesser term to minimize your interest costs.

 
 

Education Tip:

A typical repayment term for this type of borrowing need is 10 years. You may wish to consider structuring your RBC Homeline Plan repayment to a similar or lesser term to minimize your interest costs.

 
 

Other Tip:

Depending on the type of need and amount, your payback time should be reasonable and should not go beyond the useful life of the asset. Consider a payback period of 10 years; however, you may wish to consider structuring your RBC Homeline Plan repayment to a similar or lesser term to minimize your interest costs.

 

Get Started  by Selecting a Borrowing Need Above

Find out if an RBC Homeline Plan is the right account for you. You can compare the cost of borrowing using the RBC Homeline Plan to the cost of using a line of credit or credit card for the same purchases.

You are on: Car

Total Interest Cost

Until the Loan is Paid Off

Amount you would like to borrow Expand
100
100000
1
25000
$
 
The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $100,000.
Number of years to repay Expand
1
10
1
5
 
years
The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 10 years.
 
 

Total Interest Savings When You Use Your RBC Homeline Plan:

Compared against an unsecured line of credit

You are on: Home Renovations

Total Interest Cost

Until the Loan is Paid Off

Amount you would like to borrow Expand
100
250000
1
35000
$
 
The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $250,000.
Number of years to repay Expand
1
20
1
10
 
years
The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 
 

Total Interest Savings When You Use Your RBC Homeline Plan:

Compared against an unsecured line of credit

You are on: RRSP

Total Interest Cost

Until the Loan is Paid Off

Amount you would like to borrow Expand
100
100000
1
25000
$
 
The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $100,000.
Number of years to repay Expand
1
10
1
5
 
years
The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 10 years.
 
 

Total Interest Savings When You Use Your RBC Homeline Plan:

Compared against an unsecured line of credit

You are on: Non-Registered Investment

Total Interest Cost

Until the Loan is Paid Off

Amount you would like to borrow Expand
100
200000
1
25000
$
 
The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $200,000.
Number of years to repay Expand
1
20
1
10
 
years
The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 
 

Total Interest Savings When You Use Your RBC Homeline Plan:

Compared against an unsecured line of credit

You are on: Education

Total Interest Cost

Until the Loan is Paid Off

Amount you would like to borrow Expand
100
200000
1
25000
$
 
The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $200,000.
Number of years to repay Expand
1
20
1
10
 
years
The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 
 

Total Interest Savings When You Use Your RBC Homeline Plan:

Compared against an unsecured line of credit

You are on: Other

Total Interest Cost

Until the Loan is Paid Off

Amount you would like to borrow Expand
100
250000
1
25000
$
 
The entry made in the "Amount you would like to borrow" field was not valid. Please enter an amount between $100 and $250,000.
Number of years to repay Expand
1
20
1
10
 
years
The entry made in the "Number of years to repay" field was not valid. Please enter a value between 1 and 20 years.
 
 

Total Interest Savings When You Use Your RBC Homeline Plan:

Compared against an unsecured line of credit

Talk to a Mortgage Specialist

This illustration applies only to the line of credit segment of the RBC Homeline Plan. RBC Homeline Plan line of credit interest rate is based on our prime rate + 0.500%. RBC prime rate is an annual variable rate of interest announced by Royal Bank of Canada from time to time as its prime rate and is subject to change at any time without notice. Prime rate as of September 07, 2017 is 3.200%. Interest rate will change as our prime rate changes and without notice.

Applicable to residential mortgages only. All personal lending and residential mortgages are offered by Royal Bank of Canada and are subject to standard Royal Bank of Canada lending criteria for residential properties. Access up to 80% of the lesser of the purchase price or the appraised value of your home. Some conditions apply.

This calculation is based on the accuracy and completeness of the data you have entered, assumes that the debt is repaid in equal monthly installments for the specified term with no balance left at the end of the term, is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice, and should not be relied upon in that regard. You should speak with your professional accountant or other professional advisors before making a final decision to ensure any strategy meets your overall financial needs and that your personal circumstances have been taken into account. Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results.