RBC Royal Bank® Personal Loans

Key Features

Offering choice, flexibility and structured payments, here's how a personal loan from RBC Royal Bank^® could be tailored to meet your needs:

Flexible terms

Terms generally range from 1 to 5 years.
Fixed and variable rates

You could switch from a fixed rate to a variable rate at any time if prime rate goes down.
Easy payment options

Make your payment monthly, semi-monthly, bi-weekly or weekly. You can also make changes to your payment account, payment amount, payment frequency or payment due date through RBC Online Banking^2disclaimer.

No early payment penalties

You can pay off your loan in full without penalty and close your account at any time through RBC Online Banking.
Skip-a-Payment option

Skip up to the equivalent of monthly payment each year^1disclaimer (Interest continues to accrue).
Optional

LoanProtector^®-life and disability or critical illness insurance ^3disclaimer provides protection for you and your family.

Fixed or Variable Rate. What's Right for You?

When you apply for RBC Royal Bank^® personal loan, you could choose either a fixed or variable rate loan:

With a Fixed Rate Loan

You know for the duration of your loan the exact payment amount you will be making each month.
Your interest rate is locked in for the duration of your term–up to 5 years.
You could choose an amortiztion and payment schedule that meets your budget.
You could switch to variable rate loan or pre-pay your loan at any time without penalty.

With a Variable Rate Loan

Your interest rate is generally lower than rates offered by fixed rate loans.
Your interest rate is variable and will rise and fall with changes in the RBC prime rate.
If interest rates rise, your payments will likely stay the same, but your amortization term will increase.
If interest rates fall, your payments will stay the same and your amortization term will decrease, meaning you could pay off your loan sooner.
You can switch to a fixed rate loan or pre-pay your loan at any time without penalty.

If you are not sure what's right for you, an RBC Royal Bank credit specialist can help you choose.

Make Life Happen Your Way with an RBC Royal Bank^® Personal Loan

You and your RBC Personal Loan

There's More to a Loan than Just a Great Rate

Read Transcript

Introducing PayPlan by RBC

PayPlan by RBC gives you the option to pay for items over time on the terms that work best for you through a simple and positive payment experience^*disclaimer.

Learn more about PayPlan by RBCLearn more about PayPlan by RBC

Calculate Your Personal Loan Payments

Quickly estimate how much your payments would be on a personal loan.

Calculate

Debt Reduction Plan

Reducing your debt starts with making a plan.

Find Out How

Apply for a Personal Loan

Our credit specialists will help you select the credit solution that is right for you.

Visit Us in Branch

Find a Branch

Call to Talk to a Credit Specialist

1-855-834-1782

View Legal DisclaimersHide Legal Disclaimers

PayPlan by RBC financing is provided by RBC Ampli Inc.

^® / ™

Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. Personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria.

In order to be eligible to skip a payment, loan payments must be up to date and in good standing. Skipping a payment may result in extending the amortization period of the loan. If you skip a payment and your Loan is protected with Loan Protector Insurance, the premium (for the period of the skipped payment) will be collected from your next regular payment. This means less of the next payment will be used to reduce the principal amount of your Loan. If a payment is skipped for a fixed rate loan, interest will continue to accrue and will be collected when the next payment resumes. If a payment is skipped for a variable rate loan, the unpaid accrued interest as well as the interest on the part of the principal that went to payment of the missed Loan Protector premium will be added to the loan principal balance (‘’Combined Amount’’) thus increasing the principal amount outstanding on your loan. Interest, at the interest rate of the loan, is charged on the Combined Amount until it is paid in full. You may repay the skipped payment at any time.

When you delay a payment interest will continue to accrue on the total amount of the delayed payment, until the delayed payment is paid in full. The delayed payment must be paid prior to your next loan payment date. If your loan is protected with LoanProtector applicable insurance premiums will continue to accrue. The accrued premiums will be collected from the delayed payment, which means less of your payment will be used to reduce the principle amount of your loan.

RBC Online Banking is provided by Royal Bank of Canada.

LoanProtector is an optional creditor group insurance program underwritten by The Canada Life Assurance Company and is subject to terms, conditions, exclusions, eligibility restrictions, and benefits maximums. Please see the LoanProtector certificate of insurance for full details.

⁴

Interest rates are subject to change at any time without notice.

⁵

Personal Loan accounts are available to clients who meet RBC Royal Bank standard credit criteria.

⁶

The results generated by the calculator are general estimates only and are (i) based on the accuracy and completeness of the data you have entered, (ii) based on assumptions that are believed to be reasonable, and (iii) are for informational purposes only and should not be relied on for advice. Actual results may vary, perhaps to a large degree. You should consult your professional advisor before taking any action. Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with this calculator. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results in connection with this calculator tool.

Personal Loans

Key Features

Flexible terms

Fixed and variable rates

Easy payment options

No early payment penalties

Skip-a-Payment option

Optional

Fixed or Variable Rate. What's Right for You?

With a Fixed Rate Loan

With a Variable Rate Loan

Make Life Happen Your Way with an RBC Royal Bank® Personal Loan

You and your RBC Personal Loan

There's More to a Loan than Just a Great Rate

There's More to a Loan than Just a Great Rate

Introducing PayPlan by RBC

Calculate Your Personal Loan Payments

Debt Reduction Plan

Apply for a Personal Loan

Visit Us in Branch

Call to Talk to a Credit Specialist

Make Life Happen Your Way with an RBC Royal Bank^® Personal Loan