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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 the RBC 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.

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

When you apply for a RBC Royal Bank® personal loan2disclaimer, you could choose either a fixed or variable rate loan:

With a Fixed Rate Loan3disclaimer

  • You know 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 can choose an amortization and payment schedule that meets your budget.
  • You can switch to a variable rate loan or pre-pay your loan at any time without penalty.

With a Variable Rate Loan4disclaimer

  • 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 period will increase, meaning it will take longer to pay off your loan.
  • 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.

Apply for a Personal Loan

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

Visit Us at an RBC Royal Bank Branch

Find a Branch

Call to Talk to a Credit Advisor

1-866-822-8181

Legal Disclaimers

® / ™ 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.





The minimum rate for variable rate loan is Royal Bank Prime Rate + 3.24% and the maximum rate is Royal Bank Prime Rate + 12.49%. This is an annual interest rate and is based on Royal Bank Prime Rate and is subject to change at any time without notice.