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You are on: Choosing Your Credit
From buying a new car to consolidating your debt, we can help meet your goals through expert advice, flexible repayment terms, and a wide range of personal loans and line of credit options.
Whether you want to pay down your debt faster or make your monthly payments smaller to increase your cash flow, RBC Royal Bank® can help.
You are on: Understanding Credit
Understanding how credit works and knowing the terminology can help you reach your financial goals and save you money. Here's what you should know:
You are on: Manage Your RBC® Loan or Line of Credit
RBC Royal Bank® Online Banking gives you convenient access to features that can help you manage your RBC loan or line of credit.
Centralizing your debt at RBC Royal Bank can save you time and money. We offer a range of products and 24/7 access to your accounts through online, mobile and telephone banking.
See how insuring your RBC Royal Bank loan or line of credit with LoanProtector® life and disability insurance can provide your family with a financial safety net.
You are on: Customer Service
Talk to an RBC Royal Bank® credit specialist by telephone, 24 hours a day, 7 days a week.
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You are on: Choose the right loan or line of credit
An RBC Royal Bank® credit specialist can help you choose the best credit option for you based on the reason you are borrowing, how much money you need, and more.
You may also want to try our Credit Selector tool, which can recommend a solution based on your answers to a few simple questions.
You are on: Learn about RBC's credit approval process
When you apply for a loan or line of credit at RBC Royal Bank®, we look at your ability to repay the money by checking your credit rating history and using mathematical formulas to determine the balance between your income and your debt. If you have a good credit rating and your total debt service ratio shows that you can comfortably manage the additional credit, you will likely be approved. If you are not approved, we will help you understand why.
For details on our credit approval process and more information on total debt service ratio, see: Credit Approval Process.
You are on: Improve my credit history
If you are currently behind on your credit payments, establish a strong repayment pattern as soon as possible. There are many simple ways to do this. With many companies you can set up automatic withdrawals to pay your account. If you bank online, you can usually set up automatic transfers to pay your accounts. Until you begin to establish a repayment pattern, lenders will be reluctant to offer you additional credit. If they do offer you credit, they may require collateral (such as cash) or a qualified co-signer.
You may also want to talk to a knowledgeable RBC Royal Bank credit specialist. He or she can answer your questions, provide guidance and suggest ways to improve your credit history.
You are on: Reduce my debt
One of the most convenient and effective ways to reduce or eliminate debt is to consolidate your various debt (loans, line of credit, credit card balances, etc.) into a single loan with a set repayment schedule. As a result, you will have just one payment to deal with and you may find it easier to pay off your debt more quickly.Find out more:
You are on: Manage my RBC loan or line of credit online
RBC Royal Bank® Online Banking gives you convenient access to features that can help you manage your RBC® loan or line of credit.
For example, you can:
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3) 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.