Benefits of Savings Deposit

At RBC Royal Bank, you can hold a savings deposit in any of your registered plans.

  • Safe and Secure

    Your original deposit and interest rate are guaranteed, just like they would be in a regular savings account.

  • Flexible and Convenient

    Access your funds when you need it. Plus, switch to GICs or mutual funds at any time.

  • No Minimum Deposit

    Interest1 is calculated daily and paid semi-annually, with no minimum deposit required.

    View Interest Rates

What Else Should I Know?

RBC Savings Deposits are:

  • Ideal for last minute TFSA, RRSP, RESP and RDSP contributions
  • Ideal if you are not sure how you want to invest your money
  • Perfect if you're looking to start saving in a registered investment account

Popular Tools & Calculators

TFSA Calculator
RRSP Calculator
Investment Wizard

Savings Deposits FAQs

Explore top savings deposit questions.

You can buy an RBC Savings Deposit several ways:

  • If you have access to RBC Online Banking, you can buy an RBC Savings Deposit online. You must also have an existing registered account (e.g., TFSA, RRSP) and an existing RBC Royal Bank chequing or savings account.

    Sign in to buy an RBC Savings Deposit online

  • Call us at 1-800-463-3863.
  • Visit your branch. We recommend booking an appointment ahead of time by calling us at 1-800-769-2511.

To buy an RBC Savings Deposit, you must first have an existing RBC TFSARRSPRRIFRESP or RDSP already set up.

RBC Savings Deposits can only be held in a registered account such as an RBC TFSARRSPRRIFRESP or RDSP.

Regular, pre-authorized contribution plans can be set-up for your TFSA, RRSP,  RESP or RDSP, so you can save automatically without even thinking about it!

  • Get started with as little as $25 per week
  • Contribute weekly, bi-weekly, monthly—you choose
  • Contributions are automatically debited from your chequing or savings account
  • Invest in mutual funds, GICs and saving deposits

Ready to Invest?

Buy a savings deposit for your registered account!