RBC New eSavings Client 3.00% Interest Rate Offer
Terms and Conditions

Definitions:

“Bonus Interest Rate” is the increment over the Regular Interest Rate in the Eligible eSavings Account. At the start of the Qualifying Period (April 1, 2019), the annual Bonus Interest Rate was 1.95%;

“Eligible Client(s)” means a client who:

• a. Is a resident of Canada and of the age of majority in the province in which they reside as of the date the Eligible eSavings Account is opened. Residence is determined by the jurisdiction (province or territory) where a client has their primary tax filing obligation based on their regular place of residence; and
• b. Has not been the Primary Owner of an RBC High Interest eSavings Account at any time before the beginning of the Qualifying Period;

“Eligible eSavings Account” means the first RBC High Interest eSavings account opened by an Eligible Client as a Primary Owner during the Qualifying Period;

“RBC New eSavings Client Interest Rate Offer” is the promotional offer we make for the Eligible eSavings Account in these Terms and Conditions;

“Primary Owner” means the person we consider to be the main owner of the Eligible eSavings Account;

“Promotional Interest Rate” is the Bonus Interest Rate plus the Regular Interest Rate. If on April 1, 2019, the Regular Interest Rate was 1.05% per annum and the Bonus Interest Rate was 1.95% per annum, the Promotional Interest Rate was 3.00% per annum;

“Promotional Period” is the period starting on the date that the Eligible Client opens their Eligible eSavings Account, and ending 89 days later*;

“Qualifying Criteria” means the conditions set out in section A below;

“Qualifying Period” is the period starting on April 1, 2019 and ending at 3PM EST on July 31, 2019;

“Regular Interest Rate” is the interest rate for the RBC High Interest eSavings Account posted on our RateSetter. On April 1, 2019, the Regular Interest Rate was 1.05% per annum and is subject to change without notice;

“Terms” mean these terms and conditions that govern this offer;

“you” and “your” mean the Eligible Client;

“we”, “us”, “our” and “Royal Bank” mean the Royal Bank of Canada or any of its deposit taking subsidiaries.

A. Qualifying Criteria

To qualify for the RBC New eSavings Client Interest Rate Offer you must:

• a. Be an Eligible Client; and
• b. Open an Eligible eSavings Account as the Primary Owner during the Qualifying Period (where an Eligible Client is not the Primary Owner on account opening date, you do not qualify for the offer).

B. The Offer and Conditions:

• Providing you fulfill the Qualifying Criteria and the conditions of these Terms, you may earn the Promotional Interest Rate on balances up to $500,000 in the Eligible eSavings Account during the Promotional Period. Interest is paid through two separate interest payments, one based on the Regular Interest Rate and a second based on the Bonus Interest Rate. Any change to the Regular Interest Rate may result in a corresponding change to the Promotional Interest Rate. Bonus Interest and/or Regular Interest Rates may change at any time without prior notice.
• Interest will be calculated daily on balances up to $500,000, and paid monthly during the Promotional Period to the Eligible eSavings Account that qualifies for this offer.
• At the end of the Promotional Period, all balances will earn interest at the Regular Interest Rate payable to the Eligible eSavings Account.
• Interest at the Bonus Interest Rate will be paid on a maximum total of $500,000 on the Eligible eSavings Account during the Promotional Period. Any total balances greater than $500,000 will earn interest at the Regular Interest Rate.
• Interest is calculated daily and paid monthly for both the Regular Interest Rate interest payments and the Bonus Interest Rate payments. Interest at the Bonus Interest Rate will not be paid and will not be payable until the start of the month following the month in which it was calculated. If the Promotional Period ends before the last day of the last calendar month of the Promotional Period, interest at the Bonus Interest Rate will be paid two business days after the last day of the Promotional Period. Any Eligible eSavings Account closed or switched to another product type which is not an RBC High Interest eSavings account prior to the payment of the interest at the Bonus Interest Rate will forfeit any such interest calculated during the month in which the Eligible eSavings Account is closed or switched.
• Any accounts switched from other RBC Bank accounts to an RBC High Interest eSavings account will not be eligible for this offer.
• The RBC New eSavings Client Interest Rate Offer is available to only one Eligible eSavings Account per Eligible Client, no matter how many Eligible eSavings Account you may open during the Qualifying Period. Only the first Eligible eSavings Account opened during the Qualifying Period will receive the RBC New eSavings Client Interest Rate Offer.

Limitations

• This eSavings Interest Rate Offer cannot be combined with other promotional rate offers. Where an Eligible Client qualifies for more than one promotional rate offer from the Royal Bank, this eSavings Interest Rate Offer will be applied to the Eligible Client’s Eligible eSavings Account first, to the exclusion of any other promotional rate offer.
• We may change the RBC New eSavings Client Interest Rate Offer and these Terms and Conditions at any time without giving you notice. The posting of the current Terms and Conditions at www.rbc.com/esavings shall be deemed sufficient notice of them to you, if required.
• In the event of a conflict between these Terms and Conditions and the content of any document, brochure or promotional material advertising the RBC New eSavings Client Interest Rate Offer, these Terms and Conditions shall prevail. You may always view the current Terms and Conditions by visiting www.rbc.com/esavings or you may call 1-800 ROYAL^® 1-1 to request a current copy.
• We reserve the right, in our sole discretion, to suspend, disqualify, limit or revoke the RBC New eSavings Client Interest Rate Offer to any person or account holder we find or believe to be manipulating or otherwise abusing the process, fairness, integrity or operation of the RBC New eSavings Client Interest Rate Offer.
• Your personal deposit accounts with us must be in good standing and not overdrawn in order for you to participate in the RBC New eSavings Client Interest Rate Offer.

*total of 90 days. 90 days is 3 months.