Royal Bank of Canada

Personal Loans

 

-Flexible Terms: generally 1-5years

-Fixed and Variable Rates: able to choose between fixed and variable loans

-Easy Payment Options: able to choose the time period of the payment

-No Early Payment Penalties: able to pay early without any cost

-Skip-a-Payment Option: able to skip a month of payment without any cost

-Optional Loan Protector® Insurance: provide a financial backup for difficult times

 

Line of Credit

 

-Secure line of credit: able to use equity in your home or your investment portfolio as collateral to secure a higher credit limit at a lower interest rate. The credit allows from $5000 up to 80% of the equity of the collateral.

-Unsecure line of credit: credit up to $5,000 to $50,000 with not collateral required. Also, you will be able to receive a competitive interest rate, depends your credit history.

 

Car Loans

 

-Able to finance directly through the dealership or through a branch of RBC

 

RRSP Loans

 

-Flexible Limits: borrow up to $50000

-Interest Rate as Low as Prime: interest rate will be low as the prime rate, when you invest in RBC Royal Bank RRSP

-Deferred Repayment: able to use tax rebate to pay some portion of your loan, and the first payment can defer up to 90days

-Flexible Terms: Repayment terms range from 1 to 10 years.

-Easy Payment Options: able to change the pay loan in to different time periods

-No Early Prepayment Charges: able to pay with no penalties

-Optional Loan Protector® Insurance: provide financial backup during difficult times

 

Student Line of Credit

 

-Flexible limits: $5,000 for undergraduates and $10,000 for postgraduates. It offers more when you achieve a good degree

-Lower interest rate: Competitive interest rate of Prime Rate +1%

-No annual fee: no fee and cost, as well as, nothing to repay

-Easy to access: able to withdraw from ATMs and branches. Also easy to make transfers

-Easy to repay: only have to pay the interest when you are in school. Out of school in 12 month before you can start paying the principle that you have borrowed

-Use your credit again and again: able to arrange money from year to year rather taking all the money out. Once you apply, you will never have to apply for it again, you are able to reuse it (depends if your account is in good standing)

-Optional Loan Protector® Insurance: provide financial backup during difficult times