Important disclosure

RBC Personal Loan Calculator & Interest Rates

RBC logoThe table below shows a summary of RBC personal loan options. You’ll find plenty of flexible borrowing solutions that may be a good fit, whether you want to make a large purchase or consolidate debt.

What’s the cost of a personal loan from RBC? Use the RBC personal loan calculator below to find the best repayment estimate for your budget. Start with your desired loan amount and term and adjust the numbers where necessary.

Terms from 1 to 5 years. Representative example: 5 year $10,000 loan with comparison rates from 7.99% to 46.96% APR would cost between $12,163 and $26,087, including fees. The interest can vary between $2,163 and $16,087.

Royal Bank of Canada personal loans review

RBC offers a wide range of personal borrowing solutions suitable for many goals, including debt consolidation, home improvements, education, and a secure retirement. You can speak with an RBC advisor if you need extra help deciding which option is right for you.

RBC personal loan features

Why should you choose an RBC personal loan? The following key features and benefits could make this lender worth your while:

  • Flexible repayment periods. Pay off your debt over 1 to 5 years, depending on whether you want smaller or larger repayments.
  • Fixed or variable rate. A variable rate can save you interest if the prime rate goes down. RBC allows you to switch from a fixed rate to a variable rate when this happens.
  • Convenient payment options. You have the flexibility to make your payments weekly, bi-weekly, semi-monthly, or monthly. The RBC Online Banking platform also allows you to change your payment account, amount, frequency, and due dates.
  • No prepayment penalties. It’s also possible to make early repayments and close your account early through RBC Online Banking, without penalty.
  • Option to skip your payment. You can skip up to one month’s payment per year, but keep in mind interest will keep accumulating.
  • Credit insurance. This covers your payments in the event of disability, critical illness, or death.

How to apply for an RBC personal loan

You can apply for an RBC loan or line of credit online by visiting the nearest branch. You can also call 1-800-769-2511 to discuss your options with an RBC credit specialist.

Check that you’re eligible

To qualify for an RBC personal loan, you must:

  • Have reached the age of majority in your province
  • Be a Canadian permanent resident or citizen
  • Meet the minimum income and credit score requirements
  • Have a valid bank account

What you’ll need:

  • Valid ID. ID card, passport or driver’s license
  • Proof of Income. Payslip or employment letter
  • Social Insurance Number.
  • Financial information related to your expenses, assets, and liabilities
  • Details of the loan you want.


Calculate Repayments

Loan Amount



3 months


RBC personal loans

EST Monthly Repayment
EST Monthly Repayment
EST Monthly Repayment
6 months
to 60 months
EST Monthly Repayment
to $50,000
n/a provides factual information in relation to financial products. While attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with recommends that you read the relevant product information before taking up any financial product offer. For more information please see's Terms of Use.

What types of loans does RBC offer?

Here’s a quick breakdown of RBC personal borrowing solutions:

  • Personal loans. Designed for borrowers with a specific goal, whether that’s a large purchase, a wedding, or education.
  • Debt consolidation loan. Convert your multiple credit card balances and loans into a single RBC loan or line of credit. This can save you time since you only have one repayment to make. You can also save money with a lower interest rate.
  • Home improvement loan. This covers all your home improvement needs, from major renovations to minor touch-ups.
  • Lines of credit. Get credit that’s always available up to a limit. Once you pay down the balance, you can reuse the money without applying again.
  • Student lines of credit. This offers re-usable credit which can cover your education and has a flexible repayment timeline tailored to the student lifestyle.
  • RRSP loans. Want to retire comfortably? An RBC RRSP loan can help you maximize your contributions, so you can make the most of your tax savings and investment growth opportunities.


What’s the difference between a variable and fixed rate when borrowing from the Royal Bank of Canada?

A variable rate fluctuates and offers interest savings if the Prime rate goes down. On the other hand, a fixed rate provides protection from interest rate increases. The good news is, RBC allows you to switch to a variable rate if the rate goes down.

Can I apply online for a Royal Bank of Canada (RBC) loan?

Currently, you can only apply for an RBC personal loan by visiting one of their branches or calling 1-855-834-1782 to talk to a credit specialist.

What are the Royal Bank of Canada loan interest rates?

RBC personal loan rates are not disclosed, but typically they vary based on your individual credit score.

Learn more about RBC in this video