Get Annual Rate Increases with a RateAdvantage GIC

Interest Rates That Increase Every Year

The RateAdvantage GIC is an “escalator” or “step-rate” GIC — it offers you competitive interest rates that are guaranteed to increase each year. RateAdvantage GICs may be either cashable, giving you flexibility to access your funds on each anniversary date should the need arise, or non-redeemable.

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Is This GIC Right for You?

The RateAdvantage GIC is an excellent investment alternative if you want to have access to competitive rates that are guaranteed to increase each year. If you wish to maintain access to your funds, the cashable version offers the added flexibility of being able to access your funds on any anniversary date.

Key Features

Minimum Investment: $1,000
Terms: 2, 3 and 5 years
Returns: Principal and interest payments are guaranteed
Interest Payment Options:
- Annually
- At maturity (interest compounded annually)¹
Access to Funds: No. For the cashable version, funds are accessible on each anniversary date
Plan Eligibility: Non-Registered only
CDIC Eligible: Yes²

Benefits

Competitive Interest Rates

Rates that are guaranteed to increase on each anniversary date over the term of the investment.²

Flexibility

Choice of cashable or non-redeemable version

Access to Funds

Funds accessible on each anniversary date – in cash or to re-invest if interest rates rise (cashable version)

Ready to Get Started?

Call our 24/7 Business Helpline

1-800-463-3863

Locate a Branch Near You

Find a Branch

If You Already Have an RBC Account You Can Purchase Now

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Resources

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Available for non-redeemable version only

For Canadian residents, interest is reported for tax purposes using the yield-to-maturity rate rather than the actual interest paid each year, in accordance with Regulation 7000 of the Income Tax Act (Canada) (in Quebec, Regulation 92.5R of the Taxation Act [Quebec]). For non-residents, interest reported reflects the actual amount of interest paid each year.

Rates for 21 December 2024

Cashable RateAdvantage GIC

Fully or partially cashable at each anniversary date, with no penalty

Interest Paid Annually at each Anniversary

Minimum Investment of $1,000

Term to Maturity	Year 1 [%]	Year 2 [%]	Year 3 [%]	Year 4 [%]	Year 5 [%]
2 Years	2.450	3.500	-	-	-
3 Years	2.450	3.100	3.150	-	-
5 Years	2.450	2.910	2.940	2.960	2.970

RateAdvantage GIC (non-redeemable)

Not redeemable prior to maturity

Interest Paid Annually at each Anniversary or Compounded Annually and Paid at Maturity

Minimum Investment of $1,000

Term to Maturity	Year 1 [%]	Year 2 [%]	Year 3 [%]	Year 4 [%]	Year 5 [%]
2 Years	2.550	3.600	-	-	-
3 Years	2.550	3.150	3.300	-	-
5 Years	2.550	2.960	3.010	3.040	3.060

Notes

Interest rates are subject to change without notice at any time.
Rates shown are calculated on a per annum basis.
For Canadian residents, interest is reported for tax purposes using the yield to maturity rate rather than the actual interest paid each year in accordance with Regulation 7000 of the Income Act (Canada) (in Quebec, Regulation 92.5R of the Taxation Act (Quebec)).
To purchase these GICs, Sign in to Online Banking, call 1-800-463-3863 or visit an RBC Royal Bank branch. You can find the location and phone number of the nearest RBC Royal Bank branch by using our Branch Locator. Please call and arrange to have one of our investment specialists meet with you at your convenience.