RBC GICs review
Best for: RBC clients who want special rates on 1, 2 and 5-year non-redeemable GICs and a wide range of terms in registered plans.
Non-redeemable, personal balances; posted rate is 2.45%
Non-redeemable; posted rate is 2.75%
One-Year Cashable GIC, posted 1.95%; no interest if cashed in the first 29 days
$1,000 non-registered over 1 year; $5,000 for 30 to 364-day terms or monthly interest
RBC lists its guaranteed-return GICs as CDIC eligible
The bottom line
RBC lists special rates of 3.00% on a 1-year, 3.20% on a 2-year and 3.55% on a 5-year non-redeemable GIC, well above its posted rates of 2.45%, 2.55% and 2.75%. The specials cover personal balances, new purchases and renewals, but RBC says they can change at any time. Cashable, redeemable, escalating, market-linked and U.S. dollar options round out the lineup.
Pros & cons
Pros
- Special rates on 1, 2 and 5-year non-redeemable terms
- Specials apply to renewals as well as new purchases
- Terms from 30 days to 10 years
- Wide plan support, including FHSA, RDSP and LIF
- Cashable, escalating and market-linked choices
Cons
- Posted rates sit well below the specials
- $150 fee to transfer a GIC to another institution
- Monthly interest pays a lower rate and needs $5,000
- No end date given for the special rates
Worth a look if you bank with RBC and can lock in for 1, 2 or 5 years at a special rate. Check that your quote shows the special and not the posted rate.
Suits you if
- You want a 1, 2 or 5-year term.
- You already bank with RBC online.
- You want GICs in an FHSA, RDSP or LIF.
Look elsewhere if
- You need monthly interest at the full rate.
- You may move your GIC to another institution.
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Our detailed review
RBC GIC rates by term
We read these rates from RBC’s website and rate feed, last checked October 15, 2026. GIC rates change often, so confirm the current figures with RBC before you buy.
RBC shows two sets of prices on its non-redeemable GICs. Posted rates are its standard rates. Special rates apply to selected terms for personal balances, on new purchases and renewals, in registered and non-registered plans, when interest is paid semi-annually, annually or at maturity. RBC says the specials are subject to change at any time and doesn’t state an end date or a separate minimum.
- 1 year: 3.00% special, 2.45% posted
- 2 years: 3.20% special, 2.55% posted
- 3 years: 2.55% posted; 4 years: 2.70% posted
- 5 years: 3.55% special, 2.75% posted
- 7 and 10 years: 3.00% posted
- Short terms from 30 days: 2.15% to 2.40% posted
Cashable, redeemable and other RBC GICs
The One-Year Cashable GIC pays a 2.15% special (posted 1.95%). You can cash it in fully or partly after 30 days, but you earn no interest in the first 29 days, must keep $1,000 invested and withdraw at least $1,000. It’s for non-registered savings only.
Redeemable GICs run from 2.35% for 1 year to 2.65% for 5 years. You can redeem early, but at reduced prior-redemption rates, such as 0.75% if you cash out after 30 to 59 days on a 1-year term. A Prime-Linked Cashable GIC pays 2.00% on $5,000 to $249,999.99, rising with larger balances.
RBC also sells the RateAdvantage GIC, an escalating rate GIC in 2, 3 and 5-year terms (the 5-year non-redeemable version steps from 2.35% to 3.09%), an Income Builder GIC ladder, RBC Market Smart and market-linked GICs, and U.S. dollar term deposits with a 4.00% special on 1 year.
Registered plans and how interest is paid
RBC GICs can be held in a TFSA, RRSP, FHSA, RRIF, RESP, RDSP or LIF. The minimum is $500 in an RRSP, TFSA, RESP or RDSP, and $1,000 for a RRIF, LIF or non-registered term over 1 year. The rates above are non-registered rates; RBC’s registered-plan rates load from a separate feed we couldn’t capture, so confirm them before you buy.
Terms under 1 year pay interest at maturity. Longer terms can pay monthly, semi-annually, annually or at maturity with annual compounding. Monthly interest needs $5,000 and pays less, for example 2.325% instead of 2.45% on a posted 1-year GIC.
Deposit insurance and how to buy
RBC lists its Non-Redeemable, Redeemable, One-Year Cashable and RateAdvantage GICs as CDIC eligible. RBC’s pages don’t say whether CDIC covers its U.S. dollar term deposits, so ask before you buy one.
You can buy through RBC Online Banking if you have an RBC chequing or savings account or an existing GIC, by phone at 1-844-453-0552, or at a branch, where RBC recommends booking an appointment. The GIC page doesn’t mention buying in the mobile app. If a GIC renews automatically, you can cancel within 10 business days. Moving a GIC to another institution costs $150.
Other gics we review
- Saven Financial GICs1-year GIC: 3.80%
- Oaken Financial GICs1-year GIC: 3.75%
- EQ Bank GICs1-year GIC: 3.70%
- Tangerine GICs1-year GIC: 3.60%
- Desjardins GICs1-year GIC: 3.40% online
- Manulife Bank GICs1-year GIC: 3.35%
- Meridian GICs1-year GIC: 3.30%
- National Bank GICs1-year GIC: 3.30% posted
- Vancity GICs1-year GIC: 3.10% (3.30% registered)
- BMO GICs1-year GIC: 3.00% posted
- CIBC GICs1-year GIC: 3.00% promo
- TD GICs1-year GIC: 3.00% posted
- Simplii Financial GICs1-year GIC: 2.90% APY
- Alterna Bank GICs1-year GIC: 2.65%
- Scotiabank GICs1-year GIC: 2.45% posted
Frequently Asked Questions
What is RBC’s 1-year GIC rate?
RBC lists a 3.00% special rate on a 1-year non-redeemable GIC for personal balances, against a posted rate of 2.45%. The special applies when interest is paid semi-annually, annually or at maturity. RBC says it can change at any time.
Does the RBC GIC special rate apply to renewals?
Yes. RBC says its special rates cover new purchases and renewals of personal balances, in registered and non-registered plans. If a GIC renews automatically, you can cancel within 10 business days.
Can I cash out an RBC GIC early?
Only cashable and redeemable GICs can be cashed early. The One-Year Cashable GIC can be cashed after 30 days with no interest for the first 29 days. Redeemable GICs pay reduced prior-redemption rates if you cash out before maturity.
Does RBC charge a fee to transfer a GIC?
RBC lists a $150 fee to transfer a GIC out to another financial institution. Factor this in if you plan to consolidate your savings elsewhere.
Does RBC have an escalating rate GIC?
Yes. The RBC RateAdvantage GIC comes in 2, 3 and 5-year terms, either cashable on each anniversary or non-redeemable. The 5-year non-redeemable version steps from 2.35% to 3.09% over the term.
Does RBC offer U.S. dollar GICs?
RBC offers U.S. dollar term deposits from 30 days to 5 years, with 1 to 5-year rates of 3.90% to 4.10% and a 4.00% special on 1 year. RBC’s pages don’t say whether CDIC covers them.
How much do I need to open an RBC GIC?
RBC’s minimum is $500 in an RRSP, TFSA, RESP or RDSP. It’s $1,000 for a RRIF, LIF or non-registered term over 1 year, and $5,000 for terms of 30 to 364 days or monthly interest.
Sources
Rates come from RBC GICs’s own site, checked October 15, 2026. GIC rates change often and can differ for registered accounts or larger deposits, so confirm the rate before you buy. See our methodology.