// FROSH FINANCE 101

Go to the top of the class in personal finance: Have the right financial tools in place, and you'll be prepared for any situation.

// Bank account

This is the must-have item for a successful student: it's your gateway for money in (by direct deposit or cheque) and money out (cash withdrawals or automatic monthly bill payments). Paired with your debit card, your bank account gives you easy access to your money from ATMs, retail stores and bank branches.

The ones to get: RBC Student Banking® gives you 25 free transactions a month plus free online and telephone banking, with no monthly account fee. Plus, by having this account, the annual fee on your Signature® RBC Rewards Visa‡ is waived, for even more savings. Apply now.

RBC No Limit Banking for Students® gives you unlimited free debit transactions for a low monthly fee of just $10.95. Plus, by having this account, the $39 annual fee on your Signature® RBC Rewards Visa‡ is waived. For even more savings, if you qualify for the MultiProduct Rebate®, we’ll waive your monthly bank account fee of $10.95. Apply now.

// Credit card

A major credit card is accepted almost anywhere, making it convenient and a real lifesaver in an emergency. Used wisely, it can also help you develop good credit habits and a sound credit history.

The one to get: Signature® RBC Rewards Visa‡ for students allows you to earn rewards points with every purchase for a low annual fee of $39 — waived if you also have an RBC Student Banking® account or an RBC No Limit Banking for Students account. Apply now.

// Line of credit

A line of credit is like a loan that you can tap into whenever you need it. You can borrow up to a certain limit, but you pay interest only on the outstanding balance — at a much lower rate than you'll pay on a credit card. If there's no balance outstanding, then there's no interest charged.

The one to get: The RBC Royal Credit Line® for Students offers limits starting at $5,000 a year for undergraduate students, with low interest rates of just prime +1%. Apply now.

// High interest savings account (HISA)

This is a great budgeting and saving tool. Use it to stash extra funds that you don't need right now, or that you want to keep out of your monthly expenses pool. For example, consider parking scholarship or grant money here until you need it. A HISA also helps you build your savings by accumulating interest.

The one to get: RBC High Interest eSavings™ has no minimum deposit and gives you free online transfers into your daily RBC Bank Account, for easier money management. Open one now.