Loans & Lines of Credit

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.

To speak with a credit specialist, please call one of the numbers above. You can also email us or visit an RBC Royal Bank branch near you.

You may also want to try our Credit Selector tool, which can recommend a solution based on your answers to a few simple questions.

Use this Selector

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.

• Debt Consolidation
• Create a Personalized Debt Reduction Plan
• Debt Consolidation Calculator

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:

• Check your balance, interest rate and payment details
• Make a payment
• Arrange to delay or skip a payment⁽³⁾
• View your balance, credit limit and remaining credit on your Royal Credit Line^®
• Apply for a credit limit increase
• Apply for a new personal loan, car loan, Royal Credit Line and more
• Apply for or view your LoanProtector^® life and disability insurance coverage

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