Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or calculations, or any action or decision made by you in reliance on any information or calculations. Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or calculations in connection with this business loan calculator. When you make your credit application, interest rates may have changed or may be different due to information contained in your application. The calculations and amortization schedule produced are: (i) based on the accuracy and completeness of the data you have entered, (ii) based on assumptions that are believed to be reasonable, and (iii) for estimation purposes only and should not be relied upon for specific financial or other advice. Due to the foregoing, the amortization schedule produced by the business loan calculator may differ from an actual payment schedule. The calculations produced do not account for, among other things, the following factors that may impact amortization: (i) non-scheduled payment reductions such as lump sum payments, (ii) Business Loan Insurance Plan premium payments, (iii) leap years, (iv) maturities on dates other than payment due dates or (v) interest adjustments. The business loan calculator assumes: (i) a constant interest rate throughout the amortization period and (ii) that interest payments will be made monthly for both payment types (Principal Plus Interest or Blended). For the OperatingLine Plus option, the Bank will also, whenever there is a credit balance in the Everyday Operating Account, apply all of that balance to the Royal Bank OperatingLine (depending on the revolving increments and Minimum Retained Balance).īusiness Loan Insurance Plan *** is also available for the Royal Business OperatingLine of Credit (certain conditions may apply †). Revolving Funds Arrangement is an arrangement between the client and the Bank that whenever the account is overdrawn, the Bank will revolve the loan up to the available credit limit to cover the overdraft (and Minimum Retained Balance) in agreed upon revolvement multiples. The automatic transfer between the Royal Business OperatingLine and operating account is operated through a Revolving Funds Arrangement. OperatingLine: One-way transfer of funds from your Royal Business OperatingLine to your RBC operating account. A revolving line of credit gives consumers and businesses an ongoing line of credit to borrow against repeatedly without having to apply for a new one. OperatingLine PLUS: Two-way revolve between the Royal Bank OperatingLine and your RBC operating account means you never have to worry about funds being available or paying the principle of your credit line. There are two options for transferring funds between the Royal Business OperatingLine and your RBC everyday operating account **
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