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Personal Banking > Loans & Lines of Credit > Line of Credit

Line of Credit (Royal Credit Line®)

Line of Credit

Credit that's always available and easy to access

A line of credit like the Royal Credit Line is an easy and cost-effective way to cover unexpected expenses, pay for a major purchase like a wedding, fund home renovations, pay off higher interest rate debt and more.

In fact, even if you don't need to borrow right now, it may make sense to apply for a Royal Credit Line today. Once your line of credit has been set up, you can relax knowing you are prepared for unplanned expenses.

You are on: Features and Benefits

Features and Benefits of a Royal Credit Line

  • Apply once. As long as your account is in good standing, you'll always have credit available to you, up to your credit limit.
  • Access your money at any time. Write a cheque(1), withdraw or transfer money at an RBC Royal Bank® ATM, or use telephone or online banking to transfer funds to or from your Royal Credit Line.
  • Choose secured or unsecured credit. Depending on your situation, choose from a secured or unsecured line of credit.
  • Use your credit again and again. As soon as you repay any of the credit you've used, it immediately becomes available to use again. You're in complete control and able to borrow when you need to, without having to reapply every time.
  • Flexible payment options. Choose from a range of payment options to suit your needs and budget. You are only required to pay the interest owing each month and you can pay more at any time without penalty.
  • No fees on unused credit. There are no administration or service fees on unused credit.
  • Optional LoanProtector® Insurance. Designed to provide financial backup during difficult times, LoanProtector Life and Disability Insurance provides low-cost, valuable protection for you and your family.

You are on: Choosing a Secured or Unsecured Line of Credit

When you apply for a Royal Credit Line, you can choose to apply for either a secured or unsecured line of credit:

  • Secured Line of Credit

    With a secured line of credit, you can use the equity in your home or your investment portfolio as collateral to secure a higher credit limit at a lower interest rate. Credit limits are available from $5,000 to as much as 80% of the equity in your home, less any prior outstanding mortgages(2).
  • Unsecured Line of Credit

    With an unsecured line of credit, the application and approval process is quick and easy. Credit limits are available from $5,000 to $50,000(2)—with no collateral required. You could also receive a competitive interest rate, depending on your credit history and financial standing.

The interest rate for both a secured and unsecured line of credit is variable and will rise and fall with changes in the Prime Rate (opens new window).

If you are not sure which option is right for you, an RBC Royal Bank® credit specialist can help you choose.

You are on: Questions and Answers

Questions and Answers about Lines of Credit

Below are answers to some common questions asked about lines of credit. If you don't find the answer you want here, an RBC Royal Bank credit specialist would be happy to answer your questions.

Expand All Collapse All

Expand How is a line of credit different from a personal loan?

Expand Can I use a line of credit to pay off higher interest rate debt?

Expand Should I use a line of credit to fund home improvements?

Expand I'm a student. Can I apply for a line of credit?

Expand Can I apply for a line of credit just in case I ever need the money?

Expand Should I use a line of credit to make a major purchase?

Expand Can I use a line of credit to buy a vacation property?

Expand What are the repayment options on a line of credit?

Expand How do I apply for a Royal Credit Line?


Apply for a Loan or Line of Credit

  • Apply Now and find out within two business days if you are approved
  • Call 1-800-769-2511 to talk to a credit specialist

1) You can write up to 2 personal cheques per statement cycle at no charge. There is a $2 fee for each additional cheque—and a charge for cheque orders that depends on the design and quantity of the cheques you choose.

2) Royal Credit Line accounts are available to clients who meet RBC Royal Bank standard credit criteria. This is a general description of Royal Credit Line; for more information and product details, call us at 1-800-769-2511.


Take Action

  • Apply Now
  • Call 1-800-769-2511 to talk to a credit specialist