[Royal Bank] Variable rate loan P+1,99%, 5 year term, minimum 15 000
- October 31, 2018
- Royal Bank
Rate Offer: Preferred low rate offer of “Prime + 1.99%”.
• Loan Type: Variable Rate Personal Loan (VRPL).
• Loan Length: 5 year term /amortization.
• Loan Amount: Minimum $15,000.
• Campaign Period: applications have to be started June 18th to October 31st, 2018. Funds must be advanced by November 30, 2018.
As with all credit products, this can be very good or bad depending on your needs. Make sure you have a repayment plan. Rate is not negotiable as the P+1,99% is applied automatically. This is a variable rate and will fluctuate with BoC decisions. Be careful.
As of june 18, prime rate at RBC is 3,45% therefore total rate is roughly 5.44% which is a decent rate if you need a quick cash loan. It can be used to pay off debt or just general expenses.
Term length is 5 year maximum. If you need less than 15,000. Activate the loan and just reimburse the extra cash right away.
The offer goes PUBLIC on starting JULY 16th but it is live NOW.
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