The Royal Credit Line for Students*, gives you the freedom to borrow when you need it at a competitive interest rate and flexible repayment terms.
For Students:
- In a university undergraduate program
- Attending college or trade school
- Graduate Programs
(Not covered as part of Professional Studies)
Features and Benefits
Here’s what comes with the Royal Credit Line for StudentsLegal Disclaimer *:
- Flexible credit limitsLegal Disclaimer * starting at $5,000.
- Only pay interest on what you borrow, with competitive interest rates based on RBC Prime RateLegal Disclaimer 1.
- Flexible Repayment timelines that consider student needs.
- Optional LoanProtector® Insurance. Designed to provide financial backup during difficult times, LoanProtector Life and Disability or Critical Illness insurance provides low-cost, valuable protection for you and your loved ones.Legal Disclaimer 2, Legal Disclaimer 3
What You Need to Apply
- Confirmation that you are enrolled at an eligible Canadian post-secondary educational institution or Canadian Medical or Dental educational institution.
- Invoice or receipt of payment for tuition
- Proof of enrolment letter from the Registrar’s Office
- Acceptance letter that includes proof of payment for tuition deposit
- Printout from the Registrar’s Office website with details confirming your enrolment
- An estimate of your education costs (including tuition, supplies, fees, accommodations, food, travel, etc.) Get started with our Student Budget Calculator.
- A list of your financial resources (including RESPs, scholarships/bursaries, government funding, summer employment, etc.)
Note: Applications are subject to credit approval. If your credit history is limited, or you are studying at an educational institution outside of Canada, a co-signor may be required.
Student Banking Offers
RBC Advantage® for Students
- $0 month feeLegal Disclaimer 4 for full-time studentsLegal Disclaimer 5
- Unlimited debit transactions in Canada
- FREE InteracTM e-Transfer transactionsLegal Disclaimer 6, Legal Disclaimer 7
- No RBC fee to use another bank’s ATM in CanadaLegal Disclaimer 8, Legal Disclaimer 9
RBC ION+ Visa
- Earn 3X Avion points for every $1 spent on eligible groceries, food delivery, rides, gas, streaming, subscriptions, digital gaming and more.Legal Disclaimer10
- Get up to 7,000 Avion points with the RBC ION+ Visa CardLegal Disclaimer11 - that's up to a $50 value in gift cards!
- The $48 annual fee of your RBC ION+ Visa will be rebated, every yearLegal Disclaimer 12
More Tools to Help You Plan
Student Budget Calculator
Figure out how much money you'll need to get through the school year
Monthly Cash Flow Calculator
Determine how much debt you can comfortably afford in order to achieve your goals
Talk to an Advisor Today
Your Advisor can sit down with you one-on-one to help you create a secure financial future.
Contact an RBC Credit Advisor
1-855-418-1701
Locate Your Closest Branch
For More Tips and Financial Wellness
View Legal DisclaimersHide Legal Disclaimers
(i) “Grocery Stores and Supermarkets” (MCC 5411), “Eating Places and Restaurants” (MCC 5812), “Drinking Places (Alcoholic Beverages) – Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques” (MCC 5813), “Fast Food Restaurants” (MCC 5814), “are “Grocery, Dining, and Food Delivery Purchases”. Government liquor agencies and package stores that sell beer, wine, and liquor do not qualify as part of the “Drinking Places (Alcoholic Beverages) – Bars, Taverns, Nightclubs, Cocktail Lounges, and Discotheques” MCC;
(ii) “Service Stations (With or without Ancillary Services)” (MCC 5541), “Automated Fuel Dispensers” (MCC 5542), “Taxicabs and Limousines” (MCC 4121), “Local and Suburban Commuter Passenger Transportation, Including Ferries” (MCC 4111), “Electric Vehicle Charging” (MCC 5552) are “Rides, Gas & Electric Vehicle Charging Purchases”. Non-commuter passenger railway purchases and non-commuter bus line purchases do not qualify as part of “Rides, Gas & Electric Vehicle Charging Purchases”.
(iii) “Digital Goods Media – Books, Movies, Music” (MCC 5815), “Digital Goods – Games” (MCC 5816), “Digital Goods – Applications (Excludes Games)” (MCC 5817), “Digital Goods – Large Digital Goods Merchants” (MCC 5818), “Cable, Satellite and Other Pay Television/Radio/Streaming Services” (MCC 4899) are “Streaming, Digital Gaming & Subscriptions Purchases”. The “Digital Goods – Games” MCC does not include games of chance and gambling.
You will earn 1 Avion point for every $1.00 on all other purchases (including pre-authorized bill payments) you make on your RBC ION+ Visa credit card.
Even though some merchants may sell Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, Digital Gaming & Subscriptions merchandise, purchases made at these locations may not necessarily qualify as Eligible MCCs if the merchant is not classified as such by Visa. Also, you may make a purchase at a merchant that is not classified as an Eligible MCC but is located on the premises of a merchant that is classified as an Eligible MCC, in which case your purchase would not qualify as an Eligible MCC. We cannot guarantee that any merchant, operating in whole or in part as a Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions merchant is classified as an Eligible MCC and in no event will we be liable or responsible for any claims with respect to a Grocery, Dining, Food Delivery, Rides, Gas, Electric Vehicle Charging, Streaming, and Digital Gaming & Subscriptions Purchase made at a merchant that is not classified as an Eligible MCC. Avion points are earned on net purchases only; they are not earned on cash advances (balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges or fees, and credits for returns and adjustments will reduce or cancel the points earned by the amounts originally charged.
To be considered an eligible student for the purposes of one of the promotional offers described above, you must be enrolled in an eligible program of study at the post-secondary level at a college, university, or other educational institution, as more particularly described in the terms and conditions for the relevant promotional offer. Proof of enrollment may be required. See also notes 1 and 2 (above) for additional details regarding promotional offer eligibility based on programs of study.
To get $50 worth of gift cards/certificates, you will need a total of 7,000 Avion points. Minimum redemption of 1,400 Avion points for most $10 gift cards/certificates. Some exceptions apply. Point redemption values may fluctuate. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, as well as for current point redemption values, please visit https://www.avionrewards.com/terms-and-conditions.html or call 1-800-769-2512.
Eligible Credit Cards | Annual Fee Rebate |
---|---|
RBC ION+ Visa‡ | $4 a month ($48 annually) |
WestJet RBC® MasterCard‡ | $39 |
Signature® RBC Rewards® Visa | $39 |
Visa Cash Back Card | $19 |
For any other RBC Royal Bank credit card, regular annual fees apply as they are not eligible for a rebate. For the annual fee of your Eligible Credit Card to be fully rebated, every year, you must: i) complete the Student Information section of the credit card application in full, ii) remain a student, and iii) be an owner or co-owner of an Eligible Student Bank Account throughout your studies. The annual fee of your Eligible Credit Card will continue to be fully rebated: i) until you close your Eligible Student Bank Account, or ii) until the Expected Graduation Year you have provided at the opening of your Eligible Student Bank Account, whichever comes first. Thereafter, the annual fee will no longer be rebated. If, for some reason, the Expected Graduation Year you have provided at the opening of your Eligible Student Bank Account differs from the one you have indicated on your credit card application, the Expected Graduation Year you have provided at the opening of your Eligible Student Bank Account will prevail and be used for determining the expiry of this offer. Additional cardholders (co-applicant and authorized user(s)) do not qualify for the annual fee rebate even if they are also owners of an Eligible Student Bank Account. Only one credit card annual fee rebate per Eligible Student Bank Account is allowed. If you already have an Eligible Student Bank Account, the rebate will be applied at the time you open your Eligible Credit Card account. If you open your Eligible Student Bank Account after you have opened your Eligible Credit Card account, the rebate will be applied at your next annual renewal and won't be applied retroactively. Other conditions and restrictions may apply. Royal Bank of Canada reserves the right to withdraw this offer at any time, even after acceptance by you.