RBC Personal Banking

RBC Personal Banking offers a host of essential financial services like Accounts services, Mortgage Services, Card services, Lending Facilities, Investment Services and Insurance Services.

Accounts Services provided by RBC Personal Banking

RBC Personal Banking Services offer their customers mainly three categories of accounts which are

Banking Accounts

Savings Accounts

Student Accounts

Banking Accounts

RBC Banking Accounts are characterized by flexibility, convenience and freedom of unlimited transactions.
The types of Banking Accounts provided by RBC Personal Banking are the following:

RBC Day to Day Banking Account

Features:

Account holders are generally required to pay $4 as monthly fee.

If the account holders hold more than one eligible financial product of RBC, then they are made free of the monthly fee. These eligible financial products are RBC Rewards Visa Card, RBC Partner Rewards Visa Card, RBC Royal Bank Investment.

Senior people also get a rebate from RBC which withdraws their liability to pay monthly fee.

Account holders are given the facility of 15 free debits for every month.

Account holders enjoy the facility of phone banking provided by RBC Personal Banking Services.

Customers receive account statement for every month totally free of cost. These monthly statements are either combined or consolidated.

Account holders can also receive paperless e-statements.

Customers can also avail the facility of online banking services which is provided totally free of cost.

Account holders also get the facility of overdraft protection. But this service is not free. Customers are charged either $3 per month or interest whichever is higher.

RBC No Limit Banking Account

Features:

Account holders are generally required to pay $11.95 as monthly fee.
The account holders can get rid of this monthly fee if they hold each of certain eligible financial products of RBC. These eligible financial products are RBC Rewards Visa Card or RBC Partner Rewards Visa Card, RBC Royal Bank Registered Investment or RBC Royal Bank Non-Registered Investment and RBC Mortgage Plan or RBC Home line Plan.
Senior citizens are offered a special rebate by RBC Personal Banking. After deducting the rebate amount the monthly fee which is required to be paid by the seniors comes down to $7.95.
Account holders get the facility of unlimited free debits in each month.
Customers get the option of receiving paper statement and paperless e-statements for every month totally free of cost. In paper statements they get the option of combined statement and consolidated statement.
Customers get the facility of phone banking provided by RBC Personal Banking Services.
They also enjoy free access to online banking facility.

RBC Signature No Limit Banking

Features:

Account holders are generally required to pay $12 as monthly fee.
Account holders are required to pay only $8 if they hold each of certain eligible financial products of RBC. These eligible financial products are RBC Rewards Visa Card or RBC Partner Rewards Visa Card, RBC Royal Bank Registered Investment or RBC Royal Bank
Non-Registered Investment and RBC Mortgage Plan or RBC Home line Plan.
As the senior citizens get special rebate from RBC Personal Banking, they are liable to pay only $8 as monthly fee.
Account holders get the facility of unlimited debits which is provided totally free of cost in every month.
Customers get the facility of overdraft protection. For this facility they are not required to pay any fee but interests are charged if any one uses the facility.
Account holders are entitled to receive monthly account statements totally free of cost.
They can also receive paperless e-statements.
Account holders are offered the facility of safe deposit box. Not only that they are offered the facility, but they are given a discount on that also. The discount amount can be $12 annually in maximum.
Holders of RBC Signature No Limit Banking Account are also provided the facility of Money Orders and also the draft facility. Every year they can use this facility free of any commission for maximum 12 times.
Account holders are offered RBC Royal Bank standard personalized cheques totally free of cost.
Customers enjoy the facility of phone banking and online banking facility of RBC Personal Banking Services.
Account holders receive Commission Free Travelers Cheques from American Express.
Holders of RBC Signature No Limit Banking Account get a special rebate of $35 on some eligible Visa Cards like Visa Gold Preferred, Visa Platinum Preferred an others.

RBC VIP Banking Operating Account Features:

Account holders are required to pay $30 as monthly fee in general.
Account holders get the facility of paying low monthly fee of $22.50 if they hold each of certain eligible RBC Bank products. These eligible RBC Bank products are RBC Rewards Visa Card or RBC Partner Rewards Visa Card, RBC Royal Bank Registered Investment or RBC Royal
Bank Non-Registered Investment and RBC Mortgage Plan or RBC Home line Plan.
After getting special senior�s rebate the senior account holders are required to p-ay a low monthly fee of $22.50.
Account holders get the facility of unlimited free debits on a monthly basis.
They are provided with RBC Royal Bank VIP Style personalized cheques totally free of cost.
Account holders enjoy the facility of overdraft protection. Though for this facility they are not required to pay any fee but interests are charged if any one uses the facility.
Customers receive certified cheques from RBC Personal Banking. But they can at most two free certified cheques in every calendar year.

RBC VIP Banking Alternate Account

Features:

Account holders get a no annual fee Visa Card. They get the option of choosing this Visa Card from the range of Visa Gold Preferred, Visa Platinum Preferred, Visa Platinum Avon, U.S Dollar Visa Gold, British Airways Visa Platinum and Cathay Pacific Visa Platinum.
Account holders are entitled to get account statement in every month totally free of cost.
They can also avail the facility of free online banking services from RBC Personal Banking.
Account holders receive commission free travelers cheques from American Express.
Holders of RBC VIP Banking Alternate Account also get the facility of Money Orders and the draft facility. Every year they can use this facility without paying any commission for 12 times in maximum.
Customers are entitled to unlimited free debits in each month.
Account holders are offered safe deposit boxes. Not only that, they are also given discounts annually which can amount to $40 in maximum.
Holders of this type of account also enjoy Exclusive Travel Benefits.

U.S Personal Banking Account

Features:

Monthly Fee of particular this type of account depends on number of transactions.
Account holders are entitled to one free debit in each month.
Account holders get the facility of free monthly account statements which are sent to them on a monthly basis.
Customers can also receive e-mail statements.
They can get a Bankbook by paying $2.
Account holders enjoy the phone banking facility and online banking facility totally free of cost.
Account holders get the facility of par-crossed cheques which can be purchased by paying a nominal fee.

Mortgage Services provided by RBC Personal Banking

RBC Personal Banking Services offer mainly four categories of Mortgages which are:

Fixed Rate Mortgage
Variable Rate Mortgage
Rate Capper Mortgage
Split Mortgage

Fixed Rate Mortgage

The benefit of Fixed Mortgage is that one knows the exact amount which he is required to pay per month for paying principal and interest part of the mortgage loan.
Customers get the benefit of fixed interest rate as they are not exposed to the risk of interest rate fluctuations.
Customers can choose from 4 year mortgage term period and 5 year mortgage term period.

Variable Rate Mortgage

Variable Rate Mortgages generally offer low interest rate compared to Fixed Rate Mortgages.
Customers can benefit in case the interest rate decreases, if they opt for Variable Rate Mortgage.
Even in the situation of rising interest rates, customers can continue to offer fixed payment if the payment amount is enough to cover up the interest part of the mortgage loan.

Rate Capper Mortgage

This type of mortgage is ideal not only for the First time home buyers but also for the renewers of home loan.
Maximum Capped Rate suggests the highest rate of interest that customers pay during the whole term period of 5 Year Rate Capper Mortgage.
Prime Rate of RBC Royal Bank increases or decreases in response to market conditions.
If this Prime Rate falls under Maximum Capped Rate, then the payable interest rate also decreases but the monthly payment structure of customers remain the same.

Split Mortgage

This type of mortgage is ideal for the customers who have 20% equity in their home.
This type of mortgage is really unique as the customers get benefit of current low interest rate and they are not exposed to future risk of interest rate hike.

Under these four categories of Mortgage RBC Personal Banking presents some special tailor made mortgage products so that customers can find the perfect mortgage plan with ease.
The tailor made mortgage solutions of RBC Personal Banking are:

RBC Home line Plan
RBC Vacation Home Mortgage
RBC Self Employed Mortgage
RBC No Down Payment Mortgage
Cash Back Mortgage

Card Services provided by RBC Personal Banking

RBC Personal Banking provides different types of Visa Cards to their customers. Among them the most popular cards are the one which are used for day to day transactions purpose. These cards involve no annual fee and offers low rate of interest. In this way, these cards are the perfect blending of flexibility and spending capability. RBC Personal Banking provides a host of Visa Cards which serves day to day spending purpose. These cards are Visa Gold Card, Visa Platinum Card, Visa Classic Card and other two types of Classic Card namely Visa Classic Student Card and Visa Classic Low Rate Option.

Other than these cards which are used for day to day transactions, RBC Personal Banking offers some Visa Cards which carry special Rewards. Holders of these Reward cards get the facility of earning reward points when they make purchase with these cards. These earned reward points can be redeemed for gift certificates, merchandises and travel opportunities. The Visa Cards of RBC carrying this attractive reward program are Visa Gold Preferred Card, Visa Platinum Preferred Card, Visa Platinum Avion Card, Visa Classic Card, Visa Classic Student Card, U.S Dollar Visa Card, RBC Rewards Visa Gold Card and RBC Rewards Visa Classic Card.

Other than these original rewards cards from RBC Personal Banking there are other rewards cards which are result of RBC�s partnership with some top organizations. This partnership results in the introduction RBC Partner Reward Cards like British Airways Visa Platinum Card, Cathay Pacific Visa Platinum Card, Starbucks Duetto Visa Card and Esso Visa Card.

Lending Facilities provided by RBC Personal Banking

RBC Personal Banking offers excellent lending facilities to their customers as they present not only lines of credit, personal loans, car loans but also student line of credit and RRSP Loan.

Lines of Credit
Lines of Credit can really be useful for covering up expenses of home improvements, in vestments and other high interest demanding loans. Customers are offered two types of line of credit by RBC namely Secured Line of Credit and Unsecured Line of Credit.

Secured Line of Credit

This line of credit is made secured by the equity in customer�s home or by the guaranteed investment of the customer.
Opting for Secured line of credit customers can land with a higher credit amount at a comparatively low rate of interest. The interest rate offered with secured line of credit is as low as the prime rate of RBC Royal Bank.
Customers can get a credit amount starting from $5000 up to 75% of the home equity.

Unsecured Line of Credit

The biggest advantage of Unsecured Line of Credit is that this type of credit gets approved by RBC Personal Banking very fast and with much ease.
Customers are not required to put any security for this unsecured line of credit.
They can get a credit amount starting from $5000 and up to $50,000.

Personal Loan

RBC Personal Banking offers two types of personal loans namely Fixed Rate Personal Loan and variable rate personal loan.
Fixed Rate Personal Loan

Customers stay in a favorable position as they know the exact amount of the monthly payment that they are required to make to repay the Fixed Rate Mortgage Loan.
The monthly Payment amount remains unchanged in case the market interest rate rises or falls.
Customers who opt for Fixed Rate Mortgage Loan get the freedom of converting their Mortgage loan from a Fixed one to Variable one.

Variable Rate Personal Loan

As the interest involved with Variable Rate Personal Loan varies with Prime Rate and this Prime Rate varies with market rate of interest, the customers can benefit hugely at the time interest rate decease.
Even when the rate of interest rises, the customers get the facility of making the same amount of monthly payments. But to cope up with the rising rate of interest term of amortization increases.
In case of interest rate fall, customers get the option of paying the same amount as monthly payment when the term of amortization decreases.
If the interest rate rises, customers are free to take the decision to convert their Variable Rate Personal Loan to a fixed one.

Car Loans

RBC Personal Banking provides car loans which carry low monthly payments and involve almost no penalties.
RBC Car Loans are generally of following two types:

Royal Buy Back Car Loan This type of car loan is ideal for persons who want to buy more than one car or want to lessen the monthly payment for a single car.
Installment Car Loan This type of loan is ideal for the people who drive more than 24000 km per year or for the persons who want to maintain and use a same car for years.

Student Lines of Credit

RBC Personal Banking offers Student Lines of Credit mainly with the purpose of helping the students to complete their higher education. This loan facility can be availed by the students or the parents of the students.

Student Lines of Credit offers attractive rate of interest.
The Royal Credit Line for Students offer credit of an amount to the extent of $10,000 per year.
This line of credit considers not only the additional costs of higher education courses but also the earning capacity of an individual after he completes the course.
Undergraduate students also can get avail this line of credit. For them the credit limit is $5000 in minimum per year.
This is a revolving line of credit, which provides the facility of taking the credit amount part by part every year. They are not disbursed the money at a time.
Till the completion of the education course, for which the line of credit has been available, the student customers are required to pay only the interest part of the line of credit.
To get the credit money every year, the student customers are not required to contact with RBC Personal Banking, they can just withdraw the credit money from any RBC Royal Bank ATM machine. Other than this they can get the credit money by cheque or through fund transfer using phone banking services or internet banking services.
After completion of the education course, the student composers get even more 12 months to start paying the principal part of the line of credit.
This Royal Line of Credit is an excellent medium through which the student customers can possess a good credit record or good credit rating which becomes very useful in their future life.

Investment Services provided by RBC Personal Banking

RBC Personal Banking provides a complete range of investment services which are discussed below:

Wealth Management Services

This service of RBC Royal Bank is provided on a customized basis for the RBC Royal Bank esteemed customers.
This service is just perfect for the well to do customers who needs either advisory or discretionary wealth management service.

Investment Management Services

This service is actually designed for the HNI (High Net Worth) customers.
This service is ideal for those affluent people who hold substantial amount of assets but do not want to be involved in the complex investment management process.

Mutual Funds

RBC Personal Banking offers a whole range of mutual funds from which the customers can easily find the one which suit them the best.
The customers can choose from the choices of Money Market Fund, Fixed Income Fund, Canadian Equity Fund, North American Equity Fund, U.S Equity Fund, International Equity Fund, Global Equity Fund and balanced Fund.

Online Investing Services

RBC Personal Banking services provide online investing services to the customers who find no problem in taking the investment decisions on their own.
RBC Direct Investing exclusively engage in providing excellent online banking services.

Trust Services

RBC Personal Banking provides Trust Services and Estate Planning Services for the customers who want not only to protect their assets well but also want to see them grow.
This Trust Services help in the future growth of wealth.

Financial Planning Services

This service helps the customers to manage not only their banking needs but also their investment and credit needs.

Private Banking Services

This is a service which is extremely specialized for the rich individuals.

Global Private Banking Services

This Private Banking Services is specially designed for the rich customers who want to invest in more than in country.

Insurance Services provided by RBC Personal Banking

Life Insurance
Health Insurance
Travel Insurance
Loan, Mortgage and Credit Protection Insurance
Travel Insurance