Student Line of Credit

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Prime Rate means the variable annual interest rate announced by us from time to time as a reference rate for determining interest rates on Canadian dollar commercial loans in Canada. Student Royal Credit Line rate quoted is subject to change based on changes to the Royal Bank Prime Rate on the date of this offer. The interest rate discount on the Student Royal Credit Line is up to 0.25 % of the current prime rate. The discounted rate is subject to change at any time without notice.

Two Student Royal Credit line cheques may be written during each monthly cycle without charge. A $2.00 Royal Credit Line Cheque Fee applies to each cheque thereafter. Refer to your Student Royal Credit Line Agreement for details.

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RBC Advantage Banking for students allows eligible full-time students to receive a full waiver of the standard Monthly Fee applicable to our RBC Advantage Banking account. Please refer to the section labelled “Rebates and Discounts: https://www.rbcroyalbank.com/accounts/advantage-banking-students.html (opens in new window) RBC Advantage Banking for students” in the document entitled “Addendum to April 30, 2020 Personal Deposit Accounts Disclosures and Agreements”, which provides information specific to the RBC Advantage Banking account to supplement the information provided in the Personal Deposit Accounts Disclosures and Agreements document.

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When you enrol your eligible RBC personal bank account into the RBC Value Program, you will be eligible to earn RBC Rewards points within the RBC Rewards Program as an Eligible Personal Banking Client, and any such points earned will be deposited into the RBC Rewards account tied to your enrolled account. Purchases from your account refers to using your RBC Client Card to pay for items at a merchant or service provider with the amount electronically debited directly from your enrolled account or using your RBC Virtual Visa Debit for purchases online. RBC Rewards points are governed by the RBC Rewards Terms and Conditions available on our website, or a copy may be provided to you by contacting us. For complete details on the Value Program, please see the Value Program Terms & Conditions.

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Earn 1 RBC Rewards point for every dollar in purchases you charge to your credit card.
RBC Rewards points are earned on Net Purchases only; they are not earned on Cash Advances (including 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.
You even earn RBC Rewards points on pre-authorized payments.
Some service providers may not offer pre-authorized payments to a credit card. For more details, please visit www.rbc.com/cardscustomswitch (opens in new window) or call 1-866-299-5926

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Coverage underwritten by Aviva General Insurance Company.

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There is a limit of 999 free Interac e-Transfer Transactions per Month per Account; for every Interac e-Transfer Transaction over the limit, you will be charged $1.

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Interac e-Transfer Transactions expire 30 days after they are sent and cannot be claimed by the recipient after this time. You have 15 days after the Interac e-Transfer Transaction is sent to cancel without charge. A $5 Interac e-Transfer Transaction Reclaim Fee is charged when a recipient does not accept it before it expires and the sender does not cancel the transaction before the 15-day cancellation period.

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To benefit from a rebate towards the annual fee of an Eligible Student Credit Card, every year, you must: i) complete the Student Information section of the credit card application form in full, ii) remain a student, and iii) be an owner or co-owner of an Eligible Student Bank Account throughout your studies.

Eligible Credit Cards:

• Signature^® RBC Rewards^® Visa^‡
• WestJet RBC^® Mastercard^‡

You will continue to benefit from the rebate on your annual fee until: i) 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 occurs earlier, as long as your credit card account remains in good standing. Thereafter, you will no longer receive the rebate on the annual fee.

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 form, 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-applicants and authorized users) are not eligible for this offer. Only one credit card annual fee rebate per Eligible Student Bank Account is allowed. This means that if this is a jointly held Eligible Student Bank Account, and each co-owner is also the primary cardholder of an Eligible Student Credit Card, only the Primary Owner of the Eligible Student Bank Account will be entitled to the credit card annual fee rebate.

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RBC Advantage Banking for students allows eligible full-time students to receive a full waiver of the standard Monthly Fee applicable to our RBC Advantage Banking account. Please refer to the section labelled “Rebates and Discounts: RBC Advantage Banking for students” in the document entitled “Addendum to April 30, 2020 Personal Deposit Accounts Disclosures and Agreements”, which provides information specific to the RBC Advantage Banking account to supplement the information provided in the Personal Deposit Accounts Disclosures and Agreements document.

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To be considered a full-time student, you must attend a primary or secondary school OR be enrolled in a program at the post-secondary level at a college, university or other educational institution (whether in Canada or not). If you are a post-secondary student, you must take at least 60% of the usual course load for the program in which you are enrolled in any particular semester. Proof of enrollment may be requested at our discretion.

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RBC Rewards points are earned on qualifying net purchases only; they are not earned on cash advances (including 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.

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All rewards are subject to availability. The regular redemption rate for RBC Rewards members, is 4,900 RBC Rewards points for $35 in Amazon.ca, iTunes, Starbucks, McCafe, Indigo or Cineplex gift cards (3,500 points for a $25 gift card + 1,400 points for a $10 gift card). Point redemption values may fluctuate. For complete terms, conditions and restrictions that apply to the RBC Rewards program, please visit www.rbcrewards.com(opens in new window) or call 1-800 ROYAL^® 1-2 (1-800-769-2512).