Skip Header Navigation

The RBC Royal Bank RRSP Savings Deposit is an easy way for Canadian residents to start saving for retirement. It is also ideal for investors that are not ready to make a long-term investment decision or are rushing to make a last minute contribution.

Simply deposit your RRSP contribution into an RRSP Savings Deposit, just as you would with a regular savings account, and receive higher interest as the balance in your RRSP Savings Deposit increases. You can benefit from the flexibility it offers – you can access your funds at any time or switch the funds in your RRSP Savings Deposit to a longer-term investment, either a GIC or mutual fund. Speak to an investment representative to discuss the investment options that suit your retirement goals.

Key Benefits:

  • Safe and secure
  • Tiered daily interest savings based on the balance of your RRSP Savings Deposit
    • Higher balances earn higher interest
    • Interest calculated daily, paid semi-annually
  • No minimum deposit required
  • Access to your money at your convenience
Get a Head Start on Your Retirement Try the RSP-Matic® calculator to see how much your money will grow, if you start now vs. starting later. Get Started >


Interest rates subject to change without notice.