Skip Header Navigation

1-800-769-2511

Skip Breadcrumb Links  
Personal Banking > Loans & Lines of Credit

Loans & Lines of Credit

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.

Looking to Consolidate Your Debt?

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:

Credit 101

Explore frequently asked questions about general credit topics.

Credit Ratings

Find answers to commonly asked questions about credit ratings.

Interest Rates

Explore the factors that impact interest rates.

Applying for Credit

Understand how we evaluate applications for credit.

How to Borrow Better

Apply these five principles to get more for your money and meet your borrowing goals.

You are on: Manage Your RBC® Loan or Line of Credit

Use Online Banking to 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.

Consolidate Your Debt at RBC Royal Bank

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.

Protect Your RBC Loan or Line of Credit

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.

RBC Security Guarantee. 100% reimbursement for unauthorized transactions in RBC Online Banking+. Learn More

 

Take Action

Apply Now Apply Now

Find a Dealer Find a Dealer offering RBC Royal Bank financing

Call 1-800-769-2511 to talk to a credit specialist

 

You are on: Customer Service

Contact Phone Numbers

Talk to an RBC Royal Bank® credit specialist by telephone, 24 hours a day, 7 days a week.

Service and Phone Numbers
Service Phone number
Toll-free 1-800-769-2511
TTY Line 1-800-661-1275 (hearing impaired)

Frequently Asked Questions

 

How Do I...

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.

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:

  • 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

View Demo

Not enrolled in Online Banking?

Enrol Now
 

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.

RBC Security Guarantee. 100% reimbursement for unauthorized transactions in RBC Online Banking+. Learn More