Personal lending products offered by Royal Bank of Canada and are subject to credit approval.
Prime Rate is an annual variable rate of interest announced by Royal Bank of Canada from time to time as its Prime Rate.
If you are looking to reduce your debt repayments every month, you have the option of taking out a debt consolidation loan.
This means you will have only one loan to repay and to benefit from lower interest rate meaning you will have more money in your pocket.
The calculation is based on the accuracy and completeness of the data you have provided; is for illustrative and general information purposes only; and is not intended to provide specific financial or other advice and should not be relied upon in that regard.
The calculation assumes a constant interest rate throughout the amortization period and the total interest cost is averaged over the life of the loan rounded to the nearest dollar.
To speak with an RBC credit specialist, call 1-855-834-1782.
Standard Bank Further Advance is a second bond that you register with Standard Bank and use to gain access to a money that you can use to pay off your debts, i.e.
to consolidate your debts under one lower interest loan.
Be sure to consult a financial professional prior to relying on the results.
The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.