EN
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.
Ready to Get Started?
If You Already Have an RBC Account You Can Purchase Now
Sign in to Online Banking
Call our 24/7 Business Helpline
1-800-463-3863
Locate a Branch Near You
Find a BranchIs 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?
You Might Also Be Interested In:
View Legal DisclaimersHide Legal Disclaimers
Rates for 04 November 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 | 2.700 | 3.750 | - | - | - |
| 3 Years | 2.700 | 3.350 | 3.400 | - | - |
| 5 Years | 2.700 | 3.110 | 3.140 | 3.160 | 3.170 |
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 | 2.800 | 3.850 | - | - | - |
| 3 Years | 2.800 | 3.450 | 3.600 | - | - |
| 5 Years | 2.800 | 3.160 | 3.210 | 3.240 | 3.260 |
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.