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Royal Bank

Enjoy 4.75% Interest to Grow Your Savings Faster

  • Last Updated:
  • Feb 6th, 2023 8:43 pm
[OP]
Deal Addict
Mar 10, 2014
3065 posts
3227 upvotes

[Royal Bank] Enjoy 4.75% Interest to Grow Your Savings Faster

Just received this promo.


Enjoy 4.75% Interest to Grow Your Savings Faster1

Have a savings goal? No matter what you’re saving for, reach your goal faster with a special interest rate.

Earn 4.75% interest on new deposits to your existing eligible RBC High Interest eSavings Account between February 1, 2023 to April 30, 20231. With every deposit, know that your savings are protected2 and you’re getting one step closer to achieving your goal.




Legal Disclaimers

1


The Winter 2023 4.75% eSavings Bonus Offer (the “Offer”) is only available to existing clients of Royal Bank of Canada (the “Bank”) who are notified of their eligibility for the Offer by email directly from the Bank and/or when they log in to RBC Online Banking (“Eligible Clients”). This Offer is particular to the Eligible Client to whom it was presented by the Bank, and may not be transferred to or shared with any other party. The Offer is only applicable to new funds (as described in the full Terms & Conditions) of up to $1,000,000 (from non-RBC sources) deposited into an Eligible RBC High Interest eSavings Accounts from February 1, 2023 to April 30, 2023. The Promotional Interest Rate of 4.75% is calculated by adding the Bank's Regular Interest Rate (on February 1, 2023 the Regular Interest Rate was 1.50%) with the Bonus Interest Rate (on February 1, 2023 the Bonus Interest Rate was 3.25%). The applicable Regular Interest Rate and Bonus Interest Rate are annualized rates, and interest earned at each of these rates, as applicable, is calculated daily and paid monthly. Important exclusions to the payment of interest at the Bonus Interest Rate apply if you close or switch an Eligible eSavings Account during the Promotional Period. Additional conditions also apply. This Offer and applicable interest rates are subject to change without notice. For defined terms and complete terms and conditions that apply to this Offer, please click here.

2

Savings deposits are eligible for coverage by Canada Deposit Insurance Corporation (CDIC).

3

RBC Mobile is operated by Royal Bank of Canada, RBC Direct Investing Inc. and RBC Dominion Securities Inc.
16 replies
Deal Addict
Dec 8, 2006
1349 posts
1257 upvotes
Is this offer available to everyone?
-
[OP]
Deal Addict
Mar 10, 2014
3065 posts
3227 upvotes
I don't see anything asking to click to accept like the other institutions (i.e. Simplii FInancial, etc.).
Newbie
Aug 25, 2020
70 posts
264 upvotes
LDN2012 wrote: Is this offer available to everyone?
"This Offer is particular to the Eligible Client to whom it was presented by the Bank, and may not be transferred to or shared with any other party. "

Targeted.
Newbie
Feb 25, 2020
64 posts
83 upvotes
Newmarket, ON
got email from RBC for 4.25%, so definitely targeted based on your account.
[OP]
Deal Addict
Mar 10, 2014
3065 posts
3227 upvotes
I received this last week. I think I will do this below but I would need to shift money around. 1 year 5% GIC sounds great for greater sums of money. The esavings rate is more for short term.


Special GIC Rates
Higher Interest = More Savings

Limited time offer!
See Special Rates*


Save for the long term or reach a short-term goal sooner with an RBC GIC. With cashable options that offer anytime access to funds, or non-redeemable GICs that offer a higher rate of return, there’s a GIC that’s right for you.
Discover Flexibility and Great Rates

Enjoy stable, competitive interest rates for the length of your term

Add security to your portfolio with your original investment guaranteed

Choose from multiple interest payment frequency options



Your Special GIC Rates

These rates are available for a limited time1

3.35%
1 Year Cashable2 GIC

5.00%
1 year Non-Redeemable GIC


4.75%
2 year Non-Redeemable GIC
Sr. Member
Feb 8, 2006
810 posts
551 upvotes
Have accounts and mortgage but no promo savings rate. I guess I keep my cash elsewhere
Member
User avatar
Dec 9, 2006
303 posts
84 upvotes
Ottawa
5% interest for 5 months at Tangerine is better
Jr. Member
Jul 29, 2021
156 posts
116 upvotes
I got 4.25% for my existing Savings Account for 90 days.
Jr. Member
User avatar
Nov 13, 2003
147 posts
67 upvotes
New Market
between February 1, 2023 to April 30, 20231
Lots of time to take advantage of this. Face With Tears Of Joy
Jr. Member
Aug 8, 2015
167 posts
271 upvotes
Toronto, ON
Can this be used with a business account as well ? or only for individual accounts ?
Deal Guru
User avatar
May 6, 2005
11554 posts
1504 upvotes
GVR
DaHonga wrote: 5% interest for 5 months at Tangerine is better
Stupid question but 5% is annualized rate so you’re not actually getting full 5% interest in just 5 months, yeah?
Deal Addict
User avatar
Dec 3, 2005
1951 posts
933 upvotes
Scarborough
i remember seeing this offer somewhere but couldn't find it in my emails so i searched and found a 4.6% for three months. looks like anyone can get it as long as they don't have an existing high interest sSavings account ..

The 3.10% bonus interest rate offer (which is in addition to the regular interest rate) for the 3-month promotional period is only available to individuals who have never been the primary owner of an RBC High Interest eSavings account at any time before January 12, 2023 and who open an RBC High Interest eSavings account by April 21, 2023.

https://www.rbcroyalbank.com/investments/psi/hisa.html
Deal Addict
User avatar
Jun 15, 2005
2008 posts
1823 upvotes
Kaitlyn wrote: Stupid question but 5% is annualized rate so you’re not actually getting full 5% interest in just 5 months, yeah?
Correct. Basically, a slightly higher than 2% return over those 5 months.
Member
Jan 15, 2017
359 posts
419 upvotes
if you have money you would be better off investing in something that didn't provide interest income from a tax perspective. You can get 5% on an etf like HSAV and pay 50% less tax
Newbie
Jul 10, 2020
3 posts
2 upvotes
if I transfer money from chequing account to saving account at that 3 month, does it (4.75%) work?
Deal Addict
Feb 15, 2012
4577 posts
4935 upvotes
Toronto
tomadams wrote: if you have money you would be better off investing in something that didn't provide interest income from a tax perspective. You can get 5% on an etf like HSAV and pay 50% less tax
in theory that etf is not a bad concept but right now the price is much above its NAV/unit so you better pray when you need to redeem, it wont drop 2% of your capital, and that is on top of the management fee.

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