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Expert Guidance and Exclusive Perks to Help Get You Into Your First Home Sooner

Buying your first place is a big deal and can be overwhelming. The new RBC First-Time Home Buyers Savings Programgo to disclaimer 1 makes each step of the home buying journey easier so you can own your home faster.

Here’s how the program works:

Be matched with a dedicated RBC Home Advisor

Think of your Home Advisor as your personal home-buying coach who, for the next 12-24 months, will guide you towards buying your home

Receive up to $2,500 in cash bonusesgo to disclaimer2

Set a savings goal that you can reach in 12 or 24 months and be rewarded with cash bonuses as you reach key savings milestones.

Enjoy exclusive perks and discounts along the way

Save even more with RBC partner discounts at every point in your home buying journey - from interior design services to movers and morego to disclaimer3

You Can’t Put a Price On Advice

When you first join the Program, you’ll be matched with an RBC Home Advisor who will be your partner in your journey and will provide you with invaluable advice and tips, including on:

  • Answering any of your home buying questions
  • Estimating how much you can afford to pay for a home
  • Maintaining or improving your credit score
  • Getting pre-qualified and applying for a mortgage

Get Up to $2,500 in Cash Bonusesgo to disclaimer2

Set a savings goal that you can comfortably meet in 12 or 24 months and earn cash bonuses to put towards your home when you meet key milestones. Not sure which goal to select? Your Home Advisor will help.

Tip: Consider any existing savings you may want to use towards your goal.

Choose a savings goal to see how much you could earn in cash bonuses:

See more details on the cash bonuses

$25,000 savings goal

Cash bonuses are rewarded when you:

$25,000 savings goal
Sign Up for the Program $50
Deposit 50% or more of your goal in the first 30 days $50
Reach every 10% Savings Milestone – up to 90% $90
Reach 100% of your goal and get an RBC mortgage Up to $1,500
Total Up to $1,690

$50,000 savings goal

Cash bonuses are rewarded when you:

$50,000 savings goal
Sign Up for the Program $50
Deposit 50% or more of your goal in the first 30 days $50
Reach every 10% Savings Milestone – up to 90% $225
Reach 100% of your goal and get an RBC mortgage Up to $1,500
Total Up to $1,825

$100,000 savings goal

Cash bonuses are rewarded when you:

$100,000 savings goal
Sign Up for the Program $50
Deposit 50% or more of your goal in the first 30 days $50
Reach every 10% Savings Milestone – up to 90% $450
Reach 100% of your goal and get an RBC mortgage Up to $1,500
Total Up to $2,050

$150,000 savings goal

Cash bonuses are rewarded when you:

$150,000 savings goal
Sign Up for the Program $50
Deposit 50% or more of your goal in the first 30 days $50
Reach every 10% Savings Milestone – up to 90% $675
Reach 100% of your goal and get an RBC mortgage Up to $1,500
Total Up to $2,275

$200,000 savings goal

Cash bonuses are rewarded when you:

200,000 savings goal table
Sign Up for the Program $50
Deposit 50% or more of your goal in the first 30 days $50
Reach every 10% Savings Milestone – up to 90% $900
Reach 100% of your goal and get an RBC mortgage Up to $1,500
Total Up to $2,500

Save With Special Perks & Discounts

Gear up for the big days along your home buying journey and settle in faster with unique perks and savings from RBC partnersgo to disclaimer3.

Start Your Home Buying Journey in 3 Easy Steps

Complete our quick and easy form.

Tell us a couple details and pick a savings goal and savings period.

Tell us a couple details and pick a savings goal and savings period.


Review your goals with a Home Advisor.

A Home Advisor will contact you to review your savings goal and savings period.

A Home Advisor will contact you to review your savings goal and savings period.


Open a dedicated RBC eSavings Accountgo to disclaimer9 and start saving to earn cash bonuses!

Open your account after confirming your details with your Home Advisor

Note: If you already have an RBC eSavings Account, you will need to open a new one that will be specifically dedicated to this Program!

Open your account after confirming your details with your Home Advisor

Note: If you already have an RBC eSavings Account, you will need to open a new one that will be specifically dedicated to this Program!

Get a head start and pre-enroll today!

This program kicks off officially in early-November 2020 and an RBC Home Advisor will be with you throughout the entire journeygo to disclaimer10.

Pre-Enroll Now

FAQs

After you submit the Program Sign-Up Form, you will receive a thank you email.

Wait for an RBC Home Advisor to contact you to review your savings goal and savings period, and to answer any questions you may have.

  • If you submit your Program Sign-Up Form before November 2, 2020, an advisor will contact you in early-November.
  • If you submit your Program Sign-Up Form on or after November 2, 2020, an advisor will contact you within 2 business days.

Once you have finalized your savings goal and savings period with your Home Advisor, they will guide you through the next steps for enrollment which will include opening a Dedicated RBC eSavings Account (and ensuring it is active) within 14 days.

Please do not open your Dedicated RBC eSavings Account before confirming your savings goal and savings period with your RBC Home Advisor. Any RBC High Interest eSavings accounts opened prior to confirming your savings goal and savings period with your RBC Home Advisor will not qualify as your Dedicated RBC eSavings Account for this Program.

You do not have to get an RBC mortgage to earn the one-time $50 Program Sign-Up Cash Bonus, the $50 initial deposit cash bonus, or the 10% Savings Milestone Cash Bonuses (up to 90%) as long as you meet all other criteria applicable to each of these bonuses.

However to receive the final, Congratulatory Home-Buying Cash Bonus of up to $1500, you will need reach 100% of your savings goal, complete your savings period and apply for and fund an eligible RBC mortgage within 365 days after your savings period ends.

See the complete Program Terms and Conditions for full Program details and requirements .

Yes! Even though you will need to indicate a savings goal and savings period on your Program Sign-up Form, an RBC Home Advisor will contact you to confirm that you are comfortable with your selections and answer any questions you may have. If after speaking with your RBC Home Advisor you want to modify your savings goal and/or your savings period, you can do so before confirming your selections with your RBC Home Advisor.

In the meantime, these tips may help:

To participate in the Program, you must choose a savings goal of $25,000, $50,000, $100,000, $150,000 or $200,000.

If your desired savings goal falls somewhere in between two of these options—or you are not sure what to choose—we suggest going with the savings goal that is most attainable for you.

For example, if you think you need to save $75,000 and you’re not sure whether to pick a savings goal of $50,000 or $100,000, it may be better to choose $50,000 if you don’t feel confident that you can save $100,000 by the end of your savings period.

If you are uncertain about your savings period, select either the 12 or 24 month option and then finalize your selection once you speak with your RBC Home Advisor.

Yes, you can have more than one RBC High Interest eSavings account, but you can only have one such account that is dedicated to the First-Time Home Buyers Savings Program (i.e., your “Dedicated RBC eSavings Account). There are no fees associated with the RBC High Interest eSavings Account (although certain transaction and other fees do apply – they’re outlined in the disclosures you’ll receive prior to opening your account).

Your Dedicated RBC eSavings Account will be the RBC High Interest eSavings account that you open as the Primary Owner (either in sole or joint ownership) and that has the closest account open date to the date on which you confirmed the details of your online Program Sign-Up Form submission with an RBC Home Advisor (the closest account open date being the same date or closest date up to 14 days after the date you confirmed the details of your online Program Sign-Up Form with an RBC Home Advisor).

We recommend that you create an account nickname for your Dedicated RBC eSavings Account to make it easy to identify. The welcome email you receive upon the completion of your enrollment in the Program will include the last 4 digits of the account number of your Dedicated RBC eSavings Account (i.e., your RBC High Interest eSavings account that will be dedicated to this Program).

No, you may only participate in the First-Time Home Buyers Savings Program once.

To earn the one-time $50 Program Sign-Up Cash Bonus, you must:

  • Complete the initial Program Sign-up Form and confirm your details with an RBC Home Advisor.
  • Within 14 days of finalizing your details with your RBC Home Advisor, open a Dedicated RBC eSavings Account for this Program and ensure it is active
  • Follow any instructions we email to you to confirm your account opening.

The Sign-Up Cash Bonus will be deposited to your dedicated account up to 5 business days after your account has been confirmed by RBC.

To earn the $50 Initial Deposit Cash Bonus, you must also:

  • Deposit 50% or more of your savings goal into your Dedicated RBC eSavings Account within 30 days of opening your account.

The Initial Deposit Cash Bonus will be deposited to your dedicated account up to 5 business days after making the deposit.

To earn Milestone Cash Bonuses, you must:

  • Meet all of the requirements to earn the $50 Sign-Up Cash Bonus.
  • Save in your Dedicated RBC eSavings Account—each time you reach a milestone that is 10% of your total savings goal (up to 90%), the applicable cash bonus for that milestone will be deposited to your account

Milestone Cash Bonuses will be deposited to your dedicated account up to 5 business days after reaching the milestone. If you qualify for more than one milestone cash bonus at once, you will be paid all milestone cash bonuses on the same day, which will be up to 5 business days after qualification.

In order to be eligible to receive the cash bonuses listed above, you must be enrolled in the Program and your Dedicated RBC eSavings Account must not be closed or switched to another product type on the date each of the applicable cash bonuses are issued

See the complete Terms and Conditions for full Program details and requirements .

If you reach your savings goal before the end of your 12- or 24-month savings period in your Dedicated RBC eSavings Account, you will need to keep the funds in your Dedicated RBC eSavings Account until the end of your savings period if you want to be eligible to receive for the final, Congratulatory Home-Buying Cash Bonus of up to $1,500.

See the complete Terms and Conditions for full Program details and requirements .

To earn the Congratulatory Home-Buying Cash Bonus of up to $1,500, you must:

  • Be a First-Time Home Buyer enrolled in the Program (if more than one person is on the mortgage, at least one person must be a First-Time Home Buyer). “First-Time Home Buyers” are those who declare they have not owned a home prior to the mortgage application date.
  • Achieve 100% of your selected savings goal by the end of your selected savings period.
  • Keep your savings toward your Program savings goal on deposit in your Dedicated RBC eSavings Account through the end of your savings period.
  • Get approved for your first eligible RBC mortgage and fund the mortgage within 365 days of completing your selected savings period.

Eligible RBC mortgages include:

  • New closed mortgages with a four-year or greater fixed interest rate or a five year variable rate term with a principal amount of $100,000 or more.
  • RBC Homeline Plans: if you open an RBC Homeline Plan® account, you may be eligible to receive the offer based on the total principal amount(s) in the mortgage segment(s) of the RBC Homeline Plan

The applicable Congratulatory Home-buying Cash Bonus amount is determined by the total principal amount of your mortgage, or the total principal amount(s) in the mortgage(s) segment(s) of the RBC Homeline Plan:

Milestone Cash Bonuses Table
Mortgage Principal Amount Congratulatory Homebuying Cash Bonus
$100,000 to $299,999.99 $500
$300,000 to $499,999.99 $1,000
$500,000 and up $1,500

The Congratulatory Homebuying Cash Bonus will be deposited to your account within 4 weeks of funding your mortgage. See the terms and conditions for full Program details and requirements .

Note: To be eligible to receive the cash bonuses listed above, you must be enrolled in the program and your Dedicated RBC eSavings Account must not be closed or switched to another product type on the date each of the applicable cash bonuses is issued in order to receive payment.