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Interest-Linked GICs

Security and Opportunity

If you want to take advantage of rising interest rates, an interest rate-linked GIC may be ideal. It guarantees your principal while offering a variable interest rate that is linked to changes in the RBC Royal Bank Prime rate.

The Right Choice If You

  • Want to benefit from rising interest rates
  • Want to cash-out or reinvest in another product if interest rates decreases.
  • Are looking to continually roll over short-term GICs
    • Compare GICs

Features

Minimum Investment
  • $5,000
Terms
  • 1 year
Interest Payment Frequencies
  • Monthly
  • Semi-annually
  • At maturity
  • At time of redemption if held 30 days or longer
Interest Rate
  • Variable1
Access to Funds
  • Fully or partially cashable at any time2,3
Plan Eligibility
  • Non-Registered only
CDIC Eligible
  • Yes

Benefits

Opportunity
  • Interest rate increases as Royal Bank Prime increases4
Early Access to Funds
  • Easy access to capital and cashable at any time
Convenience
  • Benefit from any increase in interest rates without the renewals that are necessary with short-term investments
Get personalized advice with MyAdvisor
  • A digital service that lets you see the potential of your investments, including your GICs, and can connect you with an RBC advisor to help build your financial future. Learn More

Interest Rates

View GIC Rates

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The rate of interest on Interest Rate-Linked GICs is calculated based on a discount from the RBC prime interest rate. The RBC prime interest rate is a reference rate for determining interest rates on Canadian dollar commercial loans in Canada and is subject to change. The RBC prime interest rate can be found at rbcroyalbank.com/rates/prime.html. You may obtain the current interest rate applicable to your Interest Rate-Linked GIC by signing into Online or Mobile Banking, by making inquiries at your local branch, or by calling us at 1-800-463-3863.
No interest is paid if cashed within 29 days and a $25.00 administration fee will apply.
Must maintain a minimum of $5,000 at all times. Minimum withdrawal amount is $1,000.
If the Royal Bank Prime decreases, this interest rate will also decrease.
Other Notable Disclosures:
  • Funds will be available on the next business day following the date on which you have instructed us to redeem your GIC, or in the case of RBC Income Builder GIC, following the date on which a payment is made from the GIC.
  • Interest in a GIC will be calculated counting the first but not the last day of the term.
  • There is no fee charged for a purchase of GIC. If you transfer your GIC out to another financial institution, there will be a transfer out fee of $150 charged (applies to both registered or non-registered GICs – transfer out fee for non-registered GICs came into effect August 1, 2022)
  • You may provide us with instructions as to what to do with your GIC proceeds upon maturity. If your GIC is automatically renewed, you may cancel it upon renewal within 10 business days from the issuance (renewal) date, and if you do, your principal will be returned, but no interest will apply from the issuance to the cancellation date.
  • The GIC Client Agreement can be found at https://www.rbcroyalbank.com/dms/investments/clientacknowledgementforms.html. This GIC Client Agreement may be changed at any time, on notice to GIC holders.