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Prime-Linked Cashable GIC®
A one-year GIC offering an interest rate that is linked to the changes in the RBC Royal Bank Canadian prime interest rate. If the prime interest rate changes during the term of the investment, the annual interest rate is automatically adjusted.
Benefits
- Opportunity — to gain from higher interest rates immediately
- Liquidity — easy access to capital
- Convenience — benefit from any increase in interest rates without the renewals that are necessary with short term instruments
Key Features
- Cashable at any time
- Interest rate is variable
- Minimum investment of $5,000
- Balance must stay at or above $5,000 at all times
- Full interest paid for GICs held for a minimum of 30 days or longer
- Interest payment frequencies — monthly, semi-annually, at maturity
Note: No interest is paid if cashed within 29 days and a $25.00 administration fee will apply.
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Purchase and manage your GICs Online! RBC Royal Bank customers can purchase, renew, change maturity instructions, or change interest disbursement account information for Non-Registered GICs — Online! |
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