What is the annual interest rate on the CreditLine for Small Business account?
A competitive rate of interest is charged on the amount of each purchase, cash advance including Visa cheque and balance transferts and fees from and including the transaction date recorded for them on the Visa monthly account staement, where they appeared for the first time, until the day full payment for the CreditLine for Small Business account is received. The annual interest rate is based on Prime Interest Rate++ plus an additional premium that will be ranging from 0.9% to 6.9% depending on your profile. Your premium will be calculated on an annual basis could only change once per year. ++ Prime Interest Rate means the annual rate of interest Royal Bank of Canada announces from time to time as a reference rate then in effect for determining interest rates on Canadian dollar commercial loans in Canada. The Prime Interest Rate may fluctuate from time to time. It can be found online at www.rbcroyalbank.com/rates or at any RBC Royal Bank branch.
