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Pay Down Debt and Improve Cash Flow

Key Features

Moving your outstanding credit balances to one low rate payment could save you money and time—making it easier to manage your money. Here are some of the benefits that may come with consolidating your outstanding debt:

  • Pay down debt faster and save on interest costs

    By consolidating your balances into a line of credit or loan with a lower interest rate.

  • Simplify your finances

    By moving to one monthly payment.

  • Save time

    By centralizing your debt at one financial institution.

  • Improve your cash flow

    By making the minimum payment1disclaimer only on an unsecured credit line; you could pay more anytime your budget allows.

  • Leverage the equity in your home

    To secure an even lower rate.

Solutions at RBC Royal Bank

Managing your debts is all about making sure you have the right borrowing solution. An RBC Royal Bank® credit specialist could tailor one of the solutions below to help you reduce or eliminate your debt:

Personal Loan

A fixed rate loan from RBC Royal Bank could help you repay debt by a set date:

  • Combine multiple debts into one easy payment
  • Save on interest costs
  • Lock in your interest rate by choosing a term from 1-5 years
  • Choose a fixed payment schedule to suit your needs and budget

Royal Credit Line®

The Royal Credit Line is a flexible way to pay down your debt at a lower interest rate:

  • Save on interest costs with a lower interest rate
  • Pay no annual fee
  • Make the minimum payment1disclaimer or more to suit your needs and budget
  • Apply once and re-use your credit, up to your credit limit
  • Access your credit at any time

RBC Homeline Plan®

If you're buying a home and have a 20% down payment, or you're a homeowner with at least 20% equity in your home, the RBC Homeline Plan could help you consolidate your debt. With the RBC Homeline Plan:

  • You have access to a Royal Credit Line and an RBC Royal Bank® mortgage in one plan
  • You can designate your line of credit for different needs, including debt consolidation, home renovations, a new car and more
  • You can split your mortgage and enjoy the advantages of both variable and fixed rates
  • Debt Consolidation Calculator

Find out what your new monthly payments would be when you consolidate your debts to RBC Royal Bank®.

Balance Type:
Continue to Debt Consolidation Calculator
  • Create a Debt Reduction Plan

Create your personalized debt reduction plan to improve your cash flow and reduce your debt sooner.

What is your main debt reduction goal?

Apply for a Line of Credit or Loan

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

Visit Us in Branch

Find a Branch

Call to Talk to a Credit Specialist

1-855-834-1782

1-855-834-1782