Best for Students:
- In a university undergraduate program
- Attending college or trade school
- Graduate Programs
(Not covered as part of Professional Studies)
Features and Benefits
Here’s what comes with the Royal Credit Line for Students:
- A range of credit limits. Based on program of study, to help you meet your borrowing needs. Limits start at $5,000.
- Lower interest rates. Competitive interest rates as low as Prime Rate plus 1%Legal Disclaimer 4 based on program of study, budget and qualifications.
- More time to repay. After you’ve finished school, you have up to 2 years before you need to start repaying the principal amount. In the meantime, you have full access to your credit line.
- Optional LoanProtector® Insurance. Designed to provide financial backup during difficult times, LoanProtector life and disability11or critical illness insurance provides low-cost, valuable protection for you and your loved ones.Legal Disclaimer 6
- Co-signor is required.
- Study Abroad Program. Planning on an exciting studying experience in another country? We can help! Learn more here.
What You Need to Apply
Here’s what you need to provide when you apply for a Royal Credit Line for Students
-
Confirmation that you are enrolled at a Canadian post-secondary educational institution
- Invoice or receipt of payment for tuition
- Proof of enrolment letter from the Registrar’s Office
- Registered Education Savings Plan Verification of Enrolment Form
- Course schedule
- An estimate of your education costs (including tuition, supplies, fees, accommodations, food, travel, etc.) Get started with our Student Budget Calculator.
- A list of your financial resources (including RESPs, scholarships/bursaries, government funding, summer employment, etc.)
- Proof that you are a Canadian citizen or landed immigrant
Note: Applications are subject to credit approval. If your credit history is limited, or you are studying at an educational institution outside of Canada, a co-signor may be required.
Student Banking Offers
RBC Advantage Banking for Students
- $0 month feeLegal Disclaimer 5 for full-time studentsLegal Disclaimer 6
- Unlimited debit transactions in Canada
- FREE Interac e-Transfer transactionsLegal Disclaimer 7, Legal Disclaimer 8
RBC ION+ Visa
- Earn 3X Avion points for every $1 spent on groceries, food delivery, rides, gas, streaming, subscriptions, digital gaming and more.Legal Disclaimer1
- Get up to 7,000 Avion points with the RBC ION+ Visa CardLegal Disclaimer2 - that's up to a $50 value in gift cards!
- No annual fee with an RBC Advantage Banking for students account.Legal Disclaimer 3
More Tools to Help You Plan
Student Budget Calculator
Figure out how much money you'll need to get through the school year
Debt Reduction Plan
Reducing your debt starts with making a plan.
Talk to a Credit Specialist Today
Your Credit Specialist can sit down with you one-on-one to help you create a secure financial future.
View Legal DisclaimersHide Legal Disclaimers
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All other trademarks are the property of their respective
owner(s).
1
You will earn 3 Avion points for every $1.00 in Grocery, Dining, Food Delivery,
Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming &
Subscriptions Purchases you make on your RBC ION+ Visa credit card at merchants
classified by Visa’s “Merchant Category Code” (MCC). Depending on how certain
merchants are categorized by Visa’s “Merchant Category Code” (MCC) they may not
qualify as an eligible MCC. Eligible MCCs are listed as:
(i) “Grocery Stores and Supermarkets” (MCC 5411), “Eating Places and Restaurants” (MCC 5812), “Drinking Places (Alcoholic Beverages) – Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques” (MCC 5813), “Fast Food Restaurants” (MCC 5814), “are “Grocery, Dining, and Food Delivery Purchases”. Government liquor agencies and package stores that sell beer, wine, and liquor do not qualify as part of the “Drinking Places (Alcoholic Beverages) – Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques” MCC;
(ii) “Service Stations (With or without Ancillary Services)” (MCC 5541), “Automated Fuel Dispensers” (MCC 5542), “Taxicabs and Limousines” (MCC 4121), “Local and Suburban Commuter Passenger Transportation, Including Ferries” (MCC 4111), “Electric Vehicle Charging” (MCC 5552) are “Rides, Gas & Electric Vehicle Charging Purchases”. Non-commuter passenger railway purchases and non-commuter bus line purchases do not qualify as part of “Rides, Gas & Electric Vehicle Charging Purchases”.
(iii) “Digital Goods Media – Books, Movies, Music” (MCC 5815), “Digital Goods – Games” (MCC 5816), “Digital Goods – Applications (Excludes Games)” (MCC 5817), “Digital Goods – Large Digital Goods Merchants” (MCC 5818), “Cable, Satellite and Other Pay Television/Radio/Streaming Services” (MCC 4899) are “Streaming, Digital Gaming & Subscriptions Purchases”. The “Digital Goods – Games” MCC does not include games of chance and gambling.
You will earn 1 Avion point for every $1.00 on all other purchases (including pre-authorized bill payments) you make on your RBC ION+ Visa credit card.
Even though some merchants may sell Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, Digital Gaming & Subscriptions merchandise, purchases made at these locations may not necessarily qualify as Eligible MCCs if the merchant is not classified as such by Visa. Also, you may make a purchase at a merchant that is not classified as an Eligible MCC but is located on the premises of a merchant that is classified as an Eligible MCC, in which case your purchase would not qualify as an Eligible MCC. We cannot guarantee that any merchant, operating in whole or in part as a Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions merchant is classified as an Eligible MCC and in no event will we be liable or responsible for any claims with respect to a Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions Purchase made at a merchant that is not classified as an Eligible MCC. Avion points are earned on net purchases only; they are not earned on cash advances (balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges or fees, and credits for returns and adjustments will reduce or cancel the points earned by the amounts originally charged.
To be considered an eligible student for the purposes of one of the promotional offers described above, you must be enrolled in an eligible program of study at the post-secondary level at a college, university, or other educational institution, as more particularly described in the terms and conditions for the relevant promotional offer. Proof of enrollment may be required. See also notes 1 and 2 (above) for additional details regarding promotional offer eligibility based on programs of study.
(i) “Grocery Stores and Supermarkets” (MCC 5411), “Eating Places and Restaurants” (MCC 5812), “Drinking Places (Alcoholic Beverages) – Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques” (MCC 5813), “Fast Food Restaurants” (MCC 5814), “are “Grocery, Dining, and Food Delivery Purchases”. Government liquor agencies and package stores that sell beer, wine, and liquor do not qualify as part of the “Drinking Places (Alcoholic Beverages) – Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques” MCC;
(ii) “Service Stations (With or without Ancillary Services)” (MCC 5541), “Automated Fuel Dispensers” (MCC 5542), “Taxicabs and Limousines” (MCC 4121), “Local and Suburban Commuter Passenger Transportation, Including Ferries” (MCC 4111), “Electric Vehicle Charging” (MCC 5552) are “Rides, Gas & Electric Vehicle Charging Purchases”. Non-commuter passenger railway purchases and non-commuter bus line purchases do not qualify as part of “Rides, Gas & Electric Vehicle Charging Purchases”.
(iii) “Digital Goods Media – Books, Movies, Music” (MCC 5815), “Digital Goods – Games” (MCC 5816), “Digital Goods – Applications (Excludes Games)” (MCC 5817), “Digital Goods – Large Digital Goods Merchants” (MCC 5818), “Cable, Satellite and Other Pay Television/Radio/Streaming Services” (MCC 4899) are “Streaming, Digital Gaming & Subscriptions Purchases”. The “Digital Goods – Games” MCC does not include games of chance and gambling.
You will earn 1 Avion point for every $1.00 on all other purchases (including pre-authorized bill payments) you make on your RBC ION+ Visa credit card.
Even though some merchants may sell Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, Digital Gaming & Subscriptions merchandise, purchases made at these locations may not necessarily qualify as Eligible MCCs if the merchant is not classified as such by Visa. Also, you may make a purchase at a merchant that is not classified as an Eligible MCC but is located on the premises of a merchant that is classified as an Eligible MCC, in which case your purchase would not qualify as an Eligible MCC. We cannot guarantee that any merchant, operating in whole or in part as a Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions merchant is classified as an Eligible MCC and in no event will we be liable or responsible for any claims with respect to a Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions Purchase made at a merchant that is not classified as an Eligible MCC. Avion points are earned on net purchases only; they are not earned on cash advances (balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges or fees, and credits for returns and adjustments will reduce or cancel the points earned by the amounts originally charged.
To be considered an eligible student for the purposes of one of the promotional offers described above, you must be enrolled in an eligible program of study at the post-secondary level at a college, university, or other educational institution, as more particularly described in the terms and conditions for the relevant promotional offer. Proof of enrollment may be required. See also notes 1 and 2 (above) for additional details regarding promotional offer eligibility based on programs of study.
2
To be eligible for this offer your application for the RBC ION+ Visa credit card must be approved by us. The 3,500 welcome Avion points ("Welcome Points") will appear within your first two monthly statements. The 3,500 additional Avion points will be awarded to you if a total of $500 or more in qualifying net purchases and/or pre-authorized bill payment transactions (“Qualifying Transactions”) are posted to your RBC ION+ Visa credit card account within the first 3 months from the date of your credit card account open date, provided your account is open and in good standing at the time you reach $500 in Qualifying Transactions. Please allow 60 days after this requirement is fulfilled for the additional Avion points to be awarded 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. Any credits for returns and adjustments that reduce the amount of Qualifying Transactions below $500 will cancel your additional Avion points. Additional cardholder(s), as well as existing cardholders of any RBC Royal Bank personal credit cards, applying for or transferring to an RBC ION+ Visa card are not eligible for this offer. This offer may not be combined or used in conjunction with any other offer. Royal Bank of Canada reserves the right to cancel, modify or withdraw this offer at any time. For complete terms and conditions that apply to the Avion Rewards Program, please visit www.avionrewards.com or call 1-800-769-2512.
To get $50 worth of gift cards/certificates, you will need a total of 7,000 Avion points. Minimum redemption of 1,400 Avion points for most $10 gift cards/certificates. Some exceptions apply. Point redemption values may fluctuate. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, as well as for current point redemption values, please visit https://www.avionrewards.com/terms-and-conditions.html or call 1-800-769-2512.
To get $50 worth of gift cards/certificates, you will need a total of 7,000 Avion points. Minimum redemption of 1,400 Avion points for most $10 gift cards/certificates. Some exceptions apply. Point redemption values may fluctuate. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, as well as for current point redemption values, please visit https://www.avionrewards.com/terms-and-conditions.html or call 1-800-769-2512.
3
If you are a post-secondary student and an Account owner of an RBC
AdvantageTM Banking Account for students (an “Eligible Student Bank
Account”) and the primary cardholder of the RBC ION+TM
Visa‡, Signature® RBC® Rewards Visa credit
card, or WestJet RBC MasterCard credit card (each, an “Eligible Student Credit
Card”), you may be entitled to a rebate towards the annual fee of your Eligible
Student Credit Card, every year. For any other RBC Royal Bank credit card,
regular annual fees apply as they are not eligible for a rebate.
To benefit from a rebate towards the annual fee of an Eligible Student Credit Card, you must: i) be approved for an eligible RBC Student Credit Card, ii) Open or Activate an Eligible Student Credit Card, and iii) be an Account owner of an Eligible Student Bank Account.
You will continue to benefit from the rebate on your annual fee: i) until you
close your Eligible Student Bank Account, or ii) until the Expected Graduation
Year you have provided for your Eligible Student Bank Account, whichever comes
first. Thereafter, you will no longer receive the rebate on the annual fee. If,
for some reason, the Expected Graduation Year you have provided at the opening
of your Eligible Student Bank Account differs from the one you have indicated on
your credit card application form, the Expected Graduation Year you have
provided at the opening of your Eligible Student Bank Account will prevail and
be used for determining the expiry of this offer.
Additional cardholders (co-applicants and authorized users) are not eligible for this offer. Only one credit card annual fee rebate per Eligible Student Bank Account is allowed. This means that if this is a jointly held Eligible Student Bank Account, and each co-owner is also the primary cardholder of an Eligible Student Credit Card, only the Primary Owner of the Eligible Student Bank Account will be entitled to the credit card annual fee rebate.
As a sole or joint owner of an RBC Signature No Limit Banking (SNL) account and the primary RBC ION+ Visa cardholder, the $4 monthly fee ($48 annually) of your RBC ION+ Visa card will be fully rebated, every month, as long as your eligible credit card remains in good standing and you remain an SNL account owner. Additional cardholders (co-applicants and authorized users) do not qualify for the annual fee rebate, even if they are also owners of an SNL account. Only one credit card annual fee rebate per SNL account is allowed. Other conditions and restrictions apply. Royal Bank of Canada reserves the right to withdraw this offer at any time, even after acceptance by you.
To benefit from a rebate towards the annual fee of an Eligible Student Credit Card, you must: i) be approved for an eligible RBC Student Credit Card, ii) Open or Activate an Eligible Student Credit Card, and iii) be an Account owner of an Eligible Student Bank Account.
Eligible Credit Cards | Annual Fee Rebate |
RBC ION+TM Visa‡ | $4 a month ($48 annually) |
Signature® RBC Rewards® Visa | $39 |
Visa Cash Back Card | $19 |
WestJet RBC® MasterCard‡ | $39 |
Additional cardholders (co-applicants and authorized users) are not eligible for this offer. Only one credit card annual fee rebate per Eligible Student Bank Account is allowed. This means that if this is a jointly held Eligible Student Bank Account, and each co-owner is also the primary cardholder of an Eligible Student Credit Card, only the Primary Owner of the Eligible Student Bank Account will be entitled to the credit card annual fee rebate.
As a sole or joint owner of an RBC Signature No Limit Banking (SNL) account and the primary RBC ION+ Visa cardholder, the $4 monthly fee ($48 annually) of your RBC ION+ Visa card will be fully rebated, every month, as long as your eligible credit card remains in good standing and you remain an SNL account owner. Additional cardholders (co-applicants and authorized users) do not qualify for the annual fee rebate, even if they are also owners of an SNL account. Only one credit card annual fee rebate per SNL account is allowed. Other conditions and restrictions apply. Royal Bank of Canada reserves the right to withdraw this offer at any time, even after acceptance by you.
4
“RBC Prime Rate” means the annual rate of interest announced by Royal Bank of
Canada from time to time as its reference rate then in effect for determining
interest rates on Canadian dollar commercial loans made by the Bank in Canada.
The current Royal Bank Prime Rate may be viewed here, and is subject to change at any time without
notice. Prime minus 0.25% on the Royal Credit Line are available to clients
participating in the RBC Healthcare Advantage program. The discounted rate is
subject to change at any time without notice. On , the Royal Bank Prime Rate was .
5
RBC Advantage Banking for students allows eligible full-time students to receive a full waiver of the standard Monthly Fee applicable to our RBC Advantage Banking account. Please refer to the section labelled “Rebates, Fee Waivers and Discounts: RBC Advantage Banking for students” in the document entitled “Personal Deposit Accounts (PDA) Disclosures and Agreements(opens in new window)", which provides information specific to the RBC Advantage Banking account to supplement the information provided in the Personal Deposit Accounts Disclosures and Agreements document. You must advise us of your student status at the time of account opening an RBC Advantage Banking for students account and must advise of any changes to your student status thereafter. Proof of enrollment may be requested at our discretion.
6
To be considered a full-time student, you must attend a primary or secondary school OR be enrolled in a program at the post-secondary level at a college, university or other educational institution (whether in Canada or not). If you are a post-secondary student, you must take at least 60% of the usual course load for the program in which you are enrolled in any particular semester. You must advise us of your student status at the time of account opening and must advise of any changes to your student status thereafter. Proof of enrollment may be requested at our discretion.
7
Unlimited free Interac e-Transfer transactions are available in all Canadian dollar personal banking (chequing) accounts and are not counted toward the free monthly total in accounts with a limited number of free debits. There is a limit of 999 free Interac e-Transfer Transactions per Month per https://www.rbcroyalbank.com/onlinebanking/servicech/pdf/PDA_Account_Disclosure_Booklet.pdfAccount. In all Canadian dollar savings accounts, Interac e-Transfer transactions are $1 each, count as a Debit Transaction toward any free monthly total and carry an Excess Debit Transaction fee, if applicable. Interac e-Transfer transactions are not available in US dollar accounts.
8
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.
9
RBC Advantage Banking for students allows eligible full-time
students to receive a full waiver of the standard Monthly Fee applicable to our
RBC Advantage Banking account. Please refer to the section labelled “Rebates and
Discounts: RBC Advantage Banking for students” in the document entitled “Addendum
to April 30, 2020 Personal Deposit Accounts Disclosures and Agreements”,
which provides information specific to the RBC Advantage Banking account to
supplement the information provided in the Personal Deposit Accounts Disclosures
and Agreements document.
10
To be considered a full-time student, you must attend a
primary or secondary school OR be enrolled in a program at the post-secondary
level at a college, university or other educational institution (whether in
Canada or not). If you are a post-secondary student, you must take at least 60%
of the usual course load for the program in which you are enrolled in any
particular semester. Proof of enrollment may be requested at our discretion.
11
To be eligible for disability insurance, you must be actively working, on the date of application, in full-time employment, self-employment or seasonal employment. Please see the LoanProtector Certificate of Insurance for complete details.