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 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.
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!
