Open an RBC VIP Banking Account and
Get the New iPad^
Offer Ends November 2, 2026. Qualifying Criteria and Other Conditions Apply.
View Offer Details
Open an RBC VIP Banking Account and
Get the New iPad^
Offer Ends November 2, 2026. Qualifying Criteria and Other Conditions Apply.
View Offer Details
Unlock Savings with RBC Healthcare Advantage
From the promise of your acceptance letter to the excitement of graduation and beyond, RBC Healthcare Advantage1 is designed to support medical and dental professionals with fee waivers, preferred interest rates and special offers. Get the RBC VIP Banking account + the RBC Avion Visa Platinum (or any eligible credit card) to unlock all the RBC Healthcare Advantage benefits including:
Make Everyday Purchases Go Further with Avion Rewards
Earn points on everyday purchases and the flexibility to redeem them your way.
Points don’t expire15, so let them add up or redeem them for flights, bill payments, merchandise and more.
Get gift cards and merchandise from some of your favourite brands.
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Book flights, hotels and car rentals.
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Pay down credit cards, loans and bills.
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Save on everyday things like your favourite cup of coffee.
Save Big On Delivery With DoorDash
Enjoy up to 12 Months of $0 Delivery fees* on DoorDash® with DashPass®
* On eligible orders. Other fees apply.
Avion Rewards also gives you access to discounts, bonus points, special offers and savings you’ll only find at Canada’s largest bank-owned loyalty program.
Explore Avion RewardsTools to Help You Plan for Medical or Dental School and Beyond
Student Budget Calculator
Figure out how much money you'll need to get through the school year.
Build Your Budget
Monthly Cash Flow Calculator
Get a clear view of your cash flow and estimate your fixed, flexible and discretionary costs, to help lower your debt.
Estimate Your Cash FlowExplore Money Tips for Medical and Dental Students
From budgeting to balancing debt, explore financial wellness topics tailored to you.
Top 6 Savings Tips for Med and Dental Students
Don’t be overwhelmed by the bills. With some smart planning, you can get a great start on saving for the future.
Read more
Make your line of credit work hard for you throughout your medical or dental career
Discover how a personal line of credit can give you control over debt—and set you up for long-term financial success in your healthcare career.
Read more
Is Pursuing a Dental Residency Worth It?
Early-career dentists have more career paths than you realize—and one surprising option starts right after graduation.
Read more
RBC has once again been recognized as the #1 Most Valuable Canadian Brand by Kantar BrandZ — 2025
Frequently Asked Questions
We can help you cover the costs of medical or dental school with a student line of credit. With the medical/dental Royal Credit Line you can borrow up to $400,000 (access up to $100,000 in year one) to help cover your tuition, supplies and living expenses while you’re a student. You can also enjoy a preferred rate on your medical/dental Royal Credit Line with RBC Healthcare Advantage to help your budget go further.
Have other questions? Contact an RBC Healthcare Specialist today.
A medical or dental student line of credit can help you borrow money as needed during your school years and beyond. It gives you access to cash when you need it, and you only pay interest on what you borrow.
At RBC, you can borrow up to $400,000—including up to $100,000 in your first year of study. As you pay down your balance, those funds become available to you again. You don’t have to reapply (even after you complete your residency).
Have other questions? Contact an RBC Healthcare Specialist today.
When you go into an RBC branch to meet an RBC Healthcare Specialist, bring the following documents with you:
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Confirmation that you are enrolled at an eligible Canadian Medical or Dental educational institution, such as:
- Invoice or receipt of payment for tuition
- Proof of enrollment letter from the Registrar’s Office
- Acceptance letter that includes proof of payment for the tuition deposit
- Printout from the Registrar’s Office website
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A list of your financial resources, such as:
- RESPs
- Scholarships/bursaries
- Government funding
- Summer employment
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An estimate of your education costs, such as:
- Tuition
- School supplies
- Fees
- Accommodations
- Food
- Travel
To start estimating your expenses, try the Student Budget Calculator.
At RBC, your medical/ dental Royal Credit Line is designed to grow with your career—you don’t have to reapply after graduation or residency. Unlike other financial institutions that may require you to reapply for your credit line or convert your line of credit into a loan when you begin practising, RBC keeps things simple.
As long as you make your minimum monthly payments (if carrying a balance), your line of credit remains active throughout residency and into your professional journey, providing uninterrupted financial support as your career progresses.
Have other questions? Contact an RBC Healthcare Specialist today.
Several factors can affect how much medical or dental school might cost you, like whether you’re going away or staying local, or whether you have received a grant or scholarship. Use the Student Budget Calculator to estimate how much money you might need.
While you’re in school, you’ll need to make a minimum monthly payment, which covers the interest on what you’ve borrowed and any insurance premiums, if you have coverage. You can also choose to set up automatic payments—monthly, semi-monthly, bi-weekly or weekly—to start paying down your balance. If you ever want to pay off the full amount early, you can do that anytime with no penalty.
Have other questions? Contact an RBC Healthcare Specialist today.
With a personal loan, you borrow a lump sum of money all at once, which you typically repay in equal installments over a fixed term (usually one to five years). A personal line of credit lets you borrow up to an approved credit limit, allowing you to access cash when you need it and only pay interest on what you borrow. As you pay down your outstanding balance, those funds become available to you to reborrow without having to reapply.
Here is a comparison chart to help illustrate the differences:
| Feature | Personal Loan | Line of Credit |
|---|---|---|
| Borrowing Structure | Lump sum borrowed upfront | Flexible access up to approved credit limit |
| Repayment | Fixed installments over a set term (e.g., 1–5 years) | Pay interest only on borrowed amount; flexible repayment |
| Interest | Interest charged on full loan amount | Interest charged only on funds used |
| Reusability | One-time use; must reapply for more funds | Revolving access as balance is repaid |
| Best for | Large, one-time expenses (e.g., debt consolidation) | Ongoing or unpredictable needs (e.g., emergencies, projects) |
RBC Healthcare Advantage simplifies your finances while maximizing your savings. To enjoy all the benefits of RBC Healthcare Advantage, both the RBC VIP Banking account and an eligible personal RBC credit card are required.
RBC Healthcare Advantage benefits include:
- Monthly fee waiver on RBC VIP Banking—an annual savings of $360 (required)
- Annual fee rebate on one eligible RBC credit card—an annual savings of up to $165 (required)
- Prime minus 0.25% rate on a medical/dental Royal Credit Line
- Prime minus 0.25% rate on an RBC Homeline Credit Line
- 6 months of no management fees at RBC InvestEase, our low-cost, low-effort digital investment service
- Preferred guaranteed investment certificate (GIC) rates to help your savings grow faster
RBC Healthcare Advantage is tailored to support your financial well-being from school and into practice.
Contact an RBC Healthcare Specialist today to get started.
To unlock all the great benefits of RBC Healthcare Advantage, you’ll need to visit an RBC branch. This step let us confirm your medical or dental student status to ensure you receive all eligible perks, including waived fees and preferred rates. Book an appointment with an RBC Healthcare Specialist to get started.
Yes! As a medical or dental student, there are some tax breaks you may be able to take advantage of. Check out Tax Credits and Deductions for Canadian Med/Dental Students and Residents to learn about some of the credits and deductions that could save you money when filing your return.
Starting residency soon? Learn how we can help you prepare for what is next
Let’s Simplify the Money Side, So You Can Focus on School
Talk to an RBC Healthcare SpecialistOr call us at 1-833-395-8118
This Royal Credit Line (RCL) for Students Promotional Offer (the “Promotional Offer”) is available from June 1, 2026, to October 31, 2026 (June 1 and Oct 31 inclusive) (the “Promotional Period”).
The Promotional Offer is available to eligible students who, as of the start of the Promotional Period, do not have a Royal Credit Line with Royal Bank of Canada and who otherwise comply with the terms and conditions (the “Terms”) provided herein.
The Promotional Offer is:
- $325 for eligible students enrolled in a “General Program” or
- $575 for eligible students enrolled in a “Professional Program”, or
- $1,000 for eligible students enrolled in a “Medical or Dental program”
To qualify to receive the applicable benefit of this Promotional Offer:
- you must either be a student who is enrolled in an eligible General Program, Professional Program, Medical or Dental program as described above.
- you must be the primary applicant for an RCL with Royal Bank of Canada.
- you must start your RCL application by 11:59pm EST on Oct 31, 2026.
- your application must be approved and activated by 11:59pm EST on Nov 14, 2026.
- your Line of Credit Account must be in good standing (for example, your Line of Credit Account must not be in a delinquent status) and open at the time the cash offer is awarded.
In addition to any other exclusions described in these Terms, this Promotional Offer is not available in respect of (i) Credit Limit Increases on existing Student RCLs; (ii) Student RCLs that were opened prior to the Promotional Period; (iii) Student RCLs held by individuals who have already completed their studies (as applicable), even if their Student RCL remains open during or after the Promotional Period; (iv) Student RCLs held or opened by individuals enrolled in programs of study other than an eligible general or professional programs or Medical or Dental Program (as described above).
If you qualify to receive the benefit of this Promotional Offer, the amount you qualify to receive, as applicable, will be deposited into your eligible RBC Canadian dollar Personal Banking Account between up to within twelve (12) weeks of your Student RCL activation date (no action required from you). In order to receive the amount for which you have qualified, you must have or open, and maintain in good standing, an active Canadian dollar personal banking account with Royal Bank of Canada. If you do not have such an account as of the date we attempt to deposit the benefit of this Promotional Offer, you will forfeit this amount and be deemed to have not qualified for the Promotional Offer.
Only one Promotional Offer payment per client per activated Student RCL. Promotional Offer and Student RCL applications are subject to Royal Bank of Canada’s standard lending criteria and other applicable restrictions.
If you’re looking to move your existing student line of credit from another financial institution to Royal Bank of Canada, we’re here to support you every step of the way. We strongly encourage you to close your existing student line of credit with your current provider to avoid managing multiple active lines of credit, which could impact your financial situation and credit score. Our RBC credit advisors are available to provide personalized guidance, helping you understand the benefits of consolidating your credit and how it may affect your overall financial profile.
To qualify for the Personal Banking Promotional Offer, you must meet all the following criteria:
- Be a resident of Canada, and by November 2, 2026 be of the age of majority in the province or territory in which you reside;
- Not have an existing Personal Banking Account with us;
- Never had a Personal Banking Account with us, nor qualified for any of our offers related to opening a Personal Banking Account at any time during the Promotional Period or in the five year period before the start of the Promotional Period;
- Have a valid deliverable email address associated with your client profile with us by November 2, 2026;
- Open your first new Eligible Personal Banking Account of either an RBC Signature No Limit Banking® account (monthly fee of $16.95) or RBC VIP Banking® account (monthly fee of $30) by 9:00 PM Eastern Time November 2, 2026; and
- Complete two of the following criteria within 90 days of opening the Eligible Personal Banking Account and no later than by 9:00 PM Eastern Time on the 90th day:
- Transfer the full amount of your automated and recurring payroll direct deposit or monthly recurring pension direct deposit to your new Eligible Personal Banking Account. RBC has the right to determine what is considered payroll
- Set up two (2) pre-authorized monthly payments (“PAPs”) from the Eligible Personal Banking Account
- Set up two (2) eligible bill payments to a service provider from your new Eligible Personal Banking Account
Provided you fulfill the above Personal Banking Qualifying Criteria, you will be eligible to receive a complimentary Apple iPad (Apple 11-inch iPad Wi-Fi 128GB).
To qualify for the Investments Promotional Offer, you must fulfill the Personal Banking Qualifying Criteria above and the Investments Qualifying Criteria below:
- Be the primary account holder of an Eligible Investments Account within 90 days of opening the Eligible Personal Banking Account and no later than by 9:00 PM Eastern Time on the 90th day;
- Transfer-in or deposit Qualifying Net Contributions of:
- between C$25,000 to $49,999.99 into any Eligible Investments Account, or collectively into any combination of Eligible Investments Accounts within 90 days of opening the Eligible Personal Banking Account and no later than by 9:00 PM Eastern Time on the 90th day to be eligible for the iPad Air offer (Apple 11-inch iPad Air Wi-Fi 128GB), or
- at least C$50,000 into any Eligible Investments Account, or collectively into any combination of Eligible Investments Accounts within 90 days of opening the Eligible Personal Banking Account and no later than by 9:00 PM Eastern Time on the 90th day to be eligible for the MacBook Air (Apple 13-inch MacBook Air: M5 chip with 10-core CPU and 8-core GPU, 16GB, 512GB SSD) or iPad Pro offer (Apple 11-inch iPad Pro Wi-Fi 256GB with Standard Glass); and
- Maintain the minimum Qualifying Net Contributions required under the Investments Promotional Offer until 365 days after opening the Eligible Personal Banking Account.
This offer may not be combined or used in conjunction with any other Personal Banking Account offers unless otherwise indicated. Royal Bank of Canada reserves the right to withdraw or amend this offer at any time without notice, even after acceptance by you. Other conditions apply. For full details including defined terms, visit rbc.com/ipadoffer.
Interac e-Transfer Transactions expire 30 days after they are sent and cannot be claimed by the recipient after this time. You have 15 days after the Interac e-Transfer Transaction is sent to cancel without charge. A $5.00 Interac e-Transfer Transaction Reclaim Fee is charged when a recipient does not accept it before it expires, and the sender does not cancel the transaction before the 15-day cancellation period.
35,000 welcome Avion points (“Welcome Points”) will appear on your monthly credit card statement within sixty (60) days after your application has been approved, provided that your RBC Avion Visa Infinite Privilege credit card account (“Credit Card Account”) remains open and in good standing at the time the Welcome points are credited to your account, “good standing” meaning that your Credit Card Account must not be past due for more than two (2) consecutive credit card account statement periods, closed, charged off or in credit revoked status.
You will receive 20,000 bonus Avion points (“Bonus Points”) if a total of $5,000 or more (“Qualifying Transaction Amount”) in qualifying net purchases and/or pre-authorized bill payment transactions (“Qualifying Transactions”) are posted to your Credit Card Account within the first six (6) months from your Credit Card Account opening date (“Period”). The Bonus Points will appear on your monthly credit card statement within sixty (60) days after you reach $5,000 in Qualifying Transactions, provided your Credit Card Account remains open and in good standing at the time the Bonus Points are credited to your account.
Qualifying Transactions exclude cash advances (including balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges and fees, and credits for returns and adjustments posted to your Credit Card account during the Period will reduce the amount of your Qualifying Transactions. The Qualifying Transaction Amount is based on the transaction posting date of each Qualifying Transaction, not the transaction date. This means that transactions that take place prior to the last day of the Period will not be considered for the Qualifying Transaction Amount if they have not yet been posted or processed by the merchant, the payment network (Visa) or Royal Bank by the last day of the Period.
15,000 additional Avion points (“Anniversary Points”) will appear on your monthly credit card statement within twelve (12) to sixteen (16) weeks after the one- year anniversary of your account opening, provided that your account remains open and in good standing at the time the Anniversary Points are credited to your account.
If you close or change your Credit Card Account for another type of RBC Royal Bank credit card before the Welcome Points, the Bonus Points and/or the Anniversary Points have been credited to your account, you may lose the benefit of this offer. This offer may not be combined or used in conjunction with any other offer. Royal Bank reserves the right to cancel, modify or withdraw this offer at any time without notice, even after your application has been approved, including if we suspect that you may be manipulating or abusing it, or engaging in any suspicious or fraudulent activity, as determined by Royal Bank in its sole discretion. For complete terms and conditions that apply to the Avion Rewards Program, please visit www.avionrewards.com or call 1-800-769-2512.
RBC Homeline Plan
Finance important goals, improve your cash flow and save money. The RBC Homeline Plan combines an RBC mortgage and Royal Credit Line into one product that allows you to access the equity you have in your home.
Top Benefits
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Low Interest Rate
Borrow at Prime - 0.25%1 with RBC Healthcare Advantage or RBC Healthcare Advantage Pro
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Credit Grows with Your Equity
Borrow up to 80% of the value of your home—your credit grows as you pay down your mortgage
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Apply Once, Borrow Again
Access credit when you need it—apply once and borrow without needing to reapply
Key Features
- Use your home’s equity for home improvements, education, debt consolidation or emergency readiness
- Only pay for the credit you use on your Royal Credit Line
- Easily access your credit through RBC Online Banking, the RBC Mobile2 app, RBC ATMs, branches or via cheque
- Choose to make interest-only monthly payments3 or pay off your balance in part or in full at any time
RBC Credit Cards Eligible for Annual Fee Rebate
If you have an RBC VIP Banking account and one of the eligible credit cards below, you will receive either a partial or full rebate on the card’s annual fee each year1.
Receive a full rebate on the annual fee for the primary cardholder and the additional cardholders (co-applicant and authorized users) on any of the following cards:
- RBC Avion Visa Infinite
For those who want unparalleled travel flexibility with our most popular Avion travel credit card - RBC Avion Visa Platinum
For those who want to start travelling, no minimum income required to apply - WestJet RBC World Elite Mastercard
For the WestJet flier who wants access to more rewards and benefits - RBC British Airways Visa Infinite
For The British Airways flier who wants travel benefits and insurance
Receive a partial rebate of $120 on the annual fee for the primary cardholder and $50 for the co-applicant for:
- RBC Avion Visa Infinite Privilege card
For those who want to start travelling in style with luxury travel perks
