Student Line Of Credit Rbc Reddit

Offer may be changed withdrawn or extended at any time without notice.

Student line of credit rbc reddit.

Not available in combination with any other rate discounts offers or promotions. During repayment it changed from prime 1 to prime 3 5 currently 7 5 total. If it is an unsecured loan in other words the bank gave you a line of credit and did not ask for any type of collateral then these loans would be eliminated if you declare bankruptcy or file a consumer. I also looked into the student loc and it appears the interest rate is worse off at prime 3 75 6 45 for rbc.

Once i had to pay it back they set it up so that it would be repaid in 10 years. A student line of credit however is a private loan between you and the financial institution and as such is treated like any other debt. When i finished school i think i got a 1 or 2 year buffer window before i had to start paying it back. Credit lines 1 start at 5 000 for undergrads 10 000 for postgrads and 40 000 for students pursuing a professional degree.

The line of credit i received from rbc is 60k 4 1. I had an rbc student line of credit. Offer may be changed withdrawn or extended at any time without notice. Trying to figure out what i should do here i currently have a student line of credit at rbc and my grace period is up.

My credit score is flawless. The rate is prime rate 1 2 typically lower than a student loan. I have to start paying back my student line of credit at rbc. Will approaching td other banks and negotiating result in a better rate or is what i have the best it gets.

Call 1 800 769 2511 or apply online for your student line of credit. Before the grace period i was paying interest and insurance only on prime 1 making my payment 80 mo 40 interest 40 insurance. Not available in combination with any other rate discounts offers or promotions. The royal credit line for students is an easy and flexible way to borrow.

I can t recall the amount i was paying but i owed 30 000 so it was a fair amount. I will be using this loc for graduate studies. Reuse the money in. Covid 19 how rbc is helping clients.

Student line of credit is provided by royal bank of canada and are subject to its standard lending criteria. Move balances from your credit cards which often have much high interest rates. Student line of credit is provided by royal bank of canada and are subject to its standard lending criteria. The royal credit line for students in a law or mba program gives you the freedom to borrow what you need when you need it with a low interest rate and the longest grace period.