High Interest Savings Account

You can open an RBC High Interest eSavings account online, in the RBC Mobile^{legal bug 11} app, by visiting a branch or by calling us at 1-800-769-2561 (lines are open 24/7).

At RBC, the RBC High Interest eSavings account typically offers the highest interest rate. For details on current rates, please see our savings accounts.

With Interac e-Transfers you can send funds to clients of other financial institutions as well as RBC, and you don't need to know the account number of the person you're sending money to. All you need is their email address or mobile phone number.

You can send an Interac e-Transfer from Online Banking, or Mobile Banking. Here’s how:

To send an Interac e-Transfer from Online Banking:

• From the Accounts Summary page, select "More Payment Options" on the right side of the page.
• Enter the payment amount of the transfer.
• Select the account you want the funds to be debited from.
• Open the “To” drop down list, select the Interac e-Transfer payee and Submit.

To send an Interac e-Transfer from Mobile Banking:

Select the Interac e-Transfers icon from the main page.

• Choose the account you would like to pay from.
• Select the recipient you wish to send funds to. If sending to a new recipient, select the + sign in the bottom left hand corner of the page.
• Follow the steps

Go to our Exchange Currency Converter to get the latest foreign exchange rates.

In Canada, there’s no limit on the number of high interest savings accounts (HISAs) you can open across financial institutions. However, individual banks may have their own limits.

At RBC, there’s no limit on the number of HISAs you can open.

Generally, you cannot lose money in a high interest savings account. While interest rates can fluctuate, your principal will stay the same, minus service fees for any transactions you make on the account. Your principal is protected by the Canada Deposit Insurance Corporation (CDIC), a federal Crown corporation that insures eligible deposits and protects your savings in case of a financial institution failure.

Like other types of savings accounts, the interest rate for the RBC High Interest eSavings account is subject to change based on market conditions.

From time to time, RBC may also offer a promotional rate for the RBC High Interest eSavings account.

With an RBC High Interest eSavings account, you earn interest on every dollar you save. Interest is calculated daily and paid monthly to grow your savings faster.

Yes, the RBC High Interest eSavings account is a safe place to keep money that you don’t need to access every day. Deposits you make to your high interest savings account are eligible for protection by the Canada Deposit Insurance Corporation (CDIC).

The easiest way to commit to a regular savings plan is to arrange for pre-authorized transfers from your banking account to your designated savings account. Simply specify the amount and how often you want the transfers to take place — for example, once a week, every two weeks or once a month. You may even want to schedule these to occur just after your paycheque is direct-deposited into your chequing account.

• Step 1: In your Online Banking, under Quick Payments and Transfers, click on Pay Bills and Transfer Funds.
• Step 2: On the left hand menu, click on Set Up Save-Matic.
• Step 3: Enter the Amount you want to save, choose your From and To accounts, When to start, and select how often from the Receive Frequency options, then click on Submit.
• Step 4. Review your information and click on Confirm. 

• Sign in to the RBC Mobile app,
• Tap ‘More’
• Tap ‘NOMI Find & Save’ and turn it on.

After you turn on NOMI Find & Save, we will get to know your spending & saving habits in your source chequing account to find opportunities to save for you.

You can deposit cheques through the RBC Mobile app (Android and iPhone devices) or the RBC Canada app (iPad devices). Download the latest version of the apps from the relevant app store, select "Deposit Cheque" in the main menu and follow the on-screen prompts.

When choosing a savings account, you’ll want to consider how it helps you reach your goals. Factors that are important to consider include:

• The interest rate – The higher the rate, the faster your money can grow
• Any fees – Monthly fees, fees for withdrawals or other charges could eat into your savings
• Accessibility – Do you need easy access to your money? With some accounts, there are multiple steps or fees for withdrawing funds
• Minimum balance – Some accounts pay higher interest when you reach minimum balance thresholds

While interest for the RBC High Interest eSavings account is calculated daily, it’s paid monthly. At the end of each day, we use your account balance to calculate a daily interest payment. Then, we add up your daily earned interest (if any) throughout the month to deliver a monthly interest payment at the end of each month.

The main difference between the RBC High Interest eSavings account and other RBC savings accounts is that it offers higher interest.

Another difference is that the RBC High Interest eSavings account offers free eStatements and eNotifications. Other RBC savings accounts such as RBC Day to Day Savings and RBC Enhanced Savings also offer paper statements for a small fee.

For a full comparison of RBC savings accounts visit Compare Savings Accounts.