Full Terms and Conditions

Interest Rate Deﬁnitions:

“Regular Interest Rate” means the interest rate ordinarily applicable to the RBC 2-Year Non-Redeemable GIC. The Regular Interest Rate is subject to change without notice, and the most current rate is posted on our GIC Rates webpage, which may be viewed at https://www.rbcroyalbank.com/investments/gic-rates.html.

“Bonus Interest Rate” means the increment over the Regular Interest Rate applicable to the Eligible GIC starting on the Initial Offer Qualiﬁcation Date and continuing during the Promotional Period(s) for which you may qualify by meeting relevant Qualifying Criteria (as more particularly described below). If you meet the Qualifying Criteria described in Section B, Paragraph 2 below, you will receive the Bonus Interest Rate described therein, for the first 2 years following your Initial Offer Qualification Date, in addition to the Regular Interest Rate. (At the start of the Qualifying Period (i.e., on January 4, 2024), the annual Bonus Interest Rate was 0.25%.

Note: The Regular Interest Rate and Bonus Interest Rate are each subject to change without notice.

Other Deﬁnitions:

“Eligible Client(s)” means a client who:

Is a resident of Canada and of the age of majority in the province or territory in which they reside as of the day before the Eligible GIC is purchased. Residence is determined by the jurisdiction (province or territory) where a client has their primary tax ﬁling obligation based on their regular place of residence.

“Eligible GIC” means the RBC 2-Year Non-Redeemable GIC purchased by an Eligible Client as the Primary Owner during the Qualifying Period;

“Initial Offer Qualiﬁcation Date” means the date that an Eligible Client ﬁrst completes the Qualifying Criteria described in Section B, Paragraph 2 below.

“Primary Owner” means the person we designate to be the primary owner of the Eligible GIC;

“Promotional Period” means the period starting on the Initial Offer Qualification Date, and ending 2 years thereafter;

“Qualifying Criteria” means the conditions set out in Section B below;

“Qualifying Period” means the period starting on January 4, 2024 and ending at 11:59PM ET on March 29, 2024;

“RBC New GIC Bonus Interest Rate Offer” means the promotional offer we make in respect of an Eligible GIC, as described in these Terms;

“Terms” mean these terms and conditions which govern this RBC GIC Offer;

“we”, “us”, “our” and “RBC Royal Bank” mean Royal Bank of Canada or any of its deposit taking subsidiaries.

“you” and “your” mean the Eligible Client;

A. Offer

1. Provided you fulﬁll the applicable Qualifying Criteria (as more particularly described below) and meet all other conditions of these Terms, you may earn interest at the Bonus Interest Rate applicable during the 2-year Promotional Period on a minimum investment of $500 for GICs purchased in a Registered investment or $1000 for a Non-Registered GIC.

B. Qualifying Criteria

2. To receive this Offer (i.e., interest at the Bonus Interest Rate of 0.25% interest for the first 2 years from the Initial Offer Qualification Date) under this RBC New GIC Bonus Interest Rate Offer, you must:

Be an Eligible Client;
Purchase a new 2-Year Non-Redeemable GIC as the Primary Owner during the Qualifying Period, or renew a GIC with the assistance of an advisor into a 2-year Non-Redeemable GIC. Auto-renewed GICs are ineligible for this offer. (For additional added clarity, even if you are an Eligible Client with an existing Eligible GIC, you will qualify to receive the Bonus Interest under this RBC New GIC Bonus Interest Rate Offer, the benefit of this Promotional Offer, on a new 2-Year Non-Redeemable GIC purchased during the Qualifying Period. Any GIC that has been auto-renewed will not qualify for this promotion. However, if within 10 business days from the issuance (auto-renewal) date, the GIC is cancelled and renewed with the assistance of an advisor for an Eligible GIC, so long as the other Qualifying Criteria are met, you will receive the Bonus Interest under this RBC New GIC Bonus Interest Rate Offer); and
Maintain your Eligible GIC until maturity.

C. Interest Calculation & Payment:

4. During the Promotional Period, interest at both the Regular Interest Rate and the Bonus Interest Rate on your Eligible GIC Account will be calculated daily on balances up to $1,000,000 and paid monthly, semi-annually or at maturity (compounded annually), depending on the interest payment option selected. Interest rates shown at time of purchase or renewal (as applicable) are calculated on a per annum basis and may vary depending on the principal investment amount selected.

5. The Bonus Interest Rate and/or the Regular Interest Rate may change at any time without prior notice.

6. Any Eligible GIC purchased after the Promotional Period has ended, will earn interest only at the Regular Interest Rate.

7. GIC Closed or Switched: If prior to maturity, the Eligible GIC is closed or switched to another product type which is not an Eligible GIC, the entire Bonus Interest Rate will be forfeited, even if all other Qualifying Criteria have been met.

D. Limitations

8. This RBC New GIC Client Bonus Interest Rate Offer is available for all Eligible GICs purchased during the Qualifying Period as long as the Eligible GIC lists you as the Primary Owner. (For added clarity, even if you are an Eligible Client but you are not the Primary Owner on the date an Eligible GIC is purchased, you will not qualify to receive Bonus Interest under this RBC New GIC Client Bonus Interest Rate Offer, the benefit of this Offer).

9. Each GIC purchased will receive the beneﬁt(s) for which you qualify under this RBC New GIC Client Bonus Interest Rate.

10. We may change this RBC New GIC Client Bonus Interest Rate Offer and/or these Terms at any time without notice. The posting of the current Terms at https://www.rbcroyalbank.com/dms/investments/gic-wis/condtions/index.html shall be deemed sufﬁcient notice to you of any such changes, if required.

11. In the event of a conﬂict between these Terms and the content of any document, brochure or promotional material advertising the RBC New GIC Client Bonus Interest Rate Offer, these Terms shall prevail. You may always view the current Terms by visiting https://www.rbcroyalbank.com/dms/investments/gic-wis/condtions/index.html or you may call 1-800 ROYAL^® 1-1 to request a current copy.

12. We reserve the right, in our sole discretion, to suspend, disqualify, limit or revoke the RBC New GIC Client Bonus Interest Rate Offer to any person or account holder we ﬁnd or believe to be manipulating or otherwise abusing the process, fairness, integrity or operation of the RBC New GIC Client Bonus Interest Rate Offer, without further explanation or advance notice to such person or account holder. By participating in the RBC New GIC Client Bonus Interest Rate Offer, you acknowledge and agree that we will not be held liable for any direct or indirect losses, damages, or opportunity costs suffered or incurred by you or any third party as a result of us suspending, disqualifying, limiting or revoking your participation in this offer in the event that we ﬁnd or believe you to be manipulating or otherwise abusing the process, fairness, integrity or operation of the offer.

13. If we are unable to execute the offer as planned for any reason, including but not limited to infection of our computers/systems by virus, bugs, tampering, unauthorized intervention, fraud, technical failures, force majeure, pandemic, or any other cause beyond our reasonable control which corrupts, interferes with, or otherwise impacts the administration, security or proper conduct of this RBC New GIC Client Bonus Interest Rate Offer, we reserve the right at our sole discretion to, without advance notice, terminate or suspend the RBC New GIC Client Bonus Interest Rate Offer, in whole or in part, or modify it as we deem necessary.

14. You have 31 days from maturity of your GIC to notify us if you believe you have completed all Qualifying Criteria but have not earned interest at the Bonus Interest Rate due under these Terms. (For the purpose of this Section D, Paragraph 14, the phrase “maturity” as used herein shall be deemed to mean the full 2 year term of the Eligible GIC, regardless of whether or not you have met the Qualifying Criteria set out in Section B, Paragraph 2.) Any notice received after this date, will not be accepted and we will only be required to ensure your Eligible Account was paid applicable interest at the Regular Interest Rate from the date you opened that account, even if you had completed the applicable Qualifying Criteria during the Qualifying Period required to earn interest at the applicable Bonus Interest Rate.

15. This RBC New GIC Client Bonus Interest Rate Offer cannot be combined with other promotional rate offers applicable to an RBC Eligible GIC. In the event that an Eligible Client qualiﬁes for more than one bonus interest rate offer for an RBC Eligible GIC, this RBC New GIC Client Bonus Interest Rate Offer will be applied to the Eligible Client’s Eligible GIC ﬁrst, to the exclusion of any other bonus interest rate offer, unless the terms and conditions of any such other offer permit you to avail of both offers.

16. If you have any other RBC products with us, it or they must be in good standing; otherwise, we reserve the right to prohibit you from participating in, or to discontinue your participation in, the RBC New GIC Client Bonus Interest Rate Offer in our sole discretion. By participating in the RBC New GIC Client Bonus Interest Rate Offer, you acknowledge and agree that we will not be held liable for any direct or indirect losses, damages, or opportunity costs suffered or incurred by you or any third party as a result of us prohibiting you from participation in, or discontinuing your participation in, this offer.