The Simplicity of Automatic Contributions with the Security of a Fixed Interest Rate
The Building Block GIC lets you accumulate a predetermined amount of funds with pre-authorized purchases (weekly, biweekly or monthly) for a one-year term. You earn the same interest rate for the entire term, no matter the size of your principal.
Is This GIC Right for You?
This is an excellent approach if you want to:
- Save towards a specific goal such as a vacation, car, tuition or down payment
- Enjoy the convenience of automatic contributions
- Minimum Investment: $1,000
- Purchase Options:
Pre-authorized purchase options:
- $10 weekly
- $25 biweekly
- $50 monthly
- Terms: 1 year
- Interest Payment Options: Interest paid at maturity
- Returns: Earn a competitive interest rate for the entire term
- Access to Funds: Yes, at a reduced rate
- CDIC Eligible: Yes
- Prior Redemption Rate: Set at time of initial purchase for principal invested for at least six months (183 days)
Eligible for Automatic Purchases
Yes – weekly, biweekly or monthly
Competitive Interest Rates
Earnings at fixed, competitive rates even while principal is being accumulated
Security and Safety
The security of achieving a future investment goal over time, with the guarantee of a fixed rate
Rates for 22 January 2019
Building Block GIC®
Interest Paid at Maturity
|Term to Maturity||Minimum Initial Investment of $1,000 [%]|
Prior Redemption Rates
|Elapsed Term||Redemption Rate [%]|
|1 to 182 days||0.000|
|183 days to 364 days||0.200|
Interest rates are subject to change without notice at any time.
Rates shown are calculated on a per annum basis.
To purchase these GICs, call 1-800-436-3863 or visit an RBC Royal Bank branch. You can find the location and phone number of the nearest RBC Royal Bank branch by using our Branch Locator. Please call and arrange to have one of our investment specialists meet with you at your convenience.
If PAP is returned due to insufficient funds in the account, the GIC will be collapsed and proceeds credited to the client's account.