Switch Your Mortgage to RBC

This Promotional Offer is comprised of a Cash Offer component and a Points Offer component, as described below.

Cash Offer Component Terms & Conditions:
Provided you meet the terms and conditions described below, you may qualify to receive the applicable cash amount deposited to an RBC “Eligible Personal Deposit Account” (as described below).

An “Eligible Mortgage Application” is a switch mortgage application (i.e., a mortgage switched to RBC from another mortgage lender) that results in a written mortgage pre-approval or approval, containing an interest rate commitment, dated between February 15, 2023 and October 31, 2023 (inclusive), in Canada only. Mortgage must fund within 120 days from the start of the rate commitment and no later than February 28, 2024. Offer available only for new mortgages of the following types and terms:

• 3-year fixed interest rate closed mortgage
• 4-year fixed interest rate closed mortgage
• 5-year fixed interest rate closed mortgage
• 5-year variable closed mortgage

Eligible mortgages or RBC Homeline Plan mortgage segments with a principal amount of $300,000.00 up to $499,999.00 will receive $500.00 in cash. Eligible mortgages or RBC Homeline Plan mortgage segments with a principal amount of $500,000.00 up to $749,999.00 will receive $1,000.00 in cash. Eligible mortgages or RBC Homeline Plan mortgage segments with a principal amount of $750,000.00 up to $999,999.00 will receive $2,500.00 in cash. Eligible mortgages or RBC Homeline Plan mortgage segments with a principal amount of $1,000,000.00 or greater will receive $3,500.00 in cash.

If you open an RBC Homeline Plan account, you may be eligible to receive the Cash Offer component based on the total principal amount(s) in the mortgage segment(s) of the RBC Homeline Plan.

This offer is limited to personal clients and residential switch mortgages only.

This offer is not available in respect of any of the following transactions: an amendment to an existing mortgage with RBC; an advance of additional funds; a renewal; a new mortgage segment within an RBC Homeline Plan; a mortgage portability transaction; and a transfer of an existing mortgage with RBC to an RBC Homeline Plan. Offers may be combined or used in conjunction with only certain other RBC offers only as and to the extent permitted under the terms and conditions of such other RBC offers. See your RBC mortgage specialist for additional details. This offer is subject to RBC’s standard lending criteria for residential mortgages. Offer may be withdrawn or amended without notice at any time.

NOTE: To receive the applicable cash benefit, you must have or open an RBC Royal Bank Canadian dollar “Eligible Personal Deposit Account” (as described below) or an RBC Private Banking Account. The cash benefit will be credited to such account within six weeks after the mortgage advance date. If you do not have an Eligible Personal Deposit Account by February 28^th, you will be deemed to have not qualified for this offer and will not be eligible to receive its benefits.

RBC Avion Points Offer Component Terms & Conditions:
In addition to the Cash Offer (if applicable), if your “Eligible Mortgage Application” (as described above) is for a mortgage or RBC Homeline Plan mortgage segment with a principal amount equal to or greater than $100,000 (or $75,000 minimum for Atlantic Canada: New Brunswick, PEI, Nova Scotia, Newfoundland & Labrador, Manitoba, Saskatchewan, and Quebec) you are eligible to earn 55,000 RBC Avion points (“Bonus Points”). Mortgage must fund within 120 days of the interest rate commitment start date and no later than February 28, 2024. Offer is eligible only for a new RBC closed mortgage with a three-year or greater fixed interest rate or a five-year variable rate term.

To qualify to receive the Bonus Points Offer component of the Promotional Offer, you must (i) have qualified to receive the Cash Offer component of the Promotional offer (if applicable), and (ii) before February 28th, 2024, have an “Eligible Personal Deposit Account” (as described below) enrolled in the RBC Value Program, or open an Eligible Personal Deposit Account and enroll it in the RBC Value Program. Eligible Personal Deposit Accounts include: RBC Staff Banking, RBC VIP Banking, RBC Advantage Banking, RBC Advantage Banking for students, RBC Signature No Limit Banking, RBC No Limit Banking, RBC Day to Day Banking, RBC Student Banking, RBC No Limit Banking for Students, RBC Day to Day Savings, RBC Enhanced Savings, RBC High Interest eSavings. For more information on the Value Program please visit: https://www.rbcroyalbank.com/onlinebanking/servicech/pdf/br-value-program.pdf(opens pdf in a new window)

If you qualify for the Bonus Points component of the Promotional Offer by meeting all applicable terms and conditions, the Bonus Points will be deposited to the RBC Avion points account tied to your Eligible Personal Banking Account within 6 weeks after meeting all the criteria for an “Eligible Mortgage Application”, as described above.

If you do not have an Eligible Personal Deposit Account that is enrolled in the RBC Value Program by February 28th, 2024, you will be deemed to have not qualified for the Bonus Points component of the Promotional Offer and will not receive the Bonus Points.

Other Terms & Conditions Applicable to the Promotional Offer:
Limit of one Promotional Offer (i.e., limit of one Cash Offer and one Points Offer) per funded mortgage or RBC Homeline Plan with a mortgage segment.

Royal Bank of Canada reserves the right to cancel, modify, or withdraw the Promotional Offer or any component thereof at any time, without or without notice to you.

® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.

If you are an RBC Avion Visa Infinite, RBC Avion Visa Platinum, RBC Avion Visa Infinite Privilege, RBC Avion Visa Infinite Business, or RBC Avion Visa Business cardholder (“RBC Avion Cardholder”), 55,000 Avion points can be redeemed for a round trip long-haul flight to Mexico, Hawaii or Alaska from Eastern Canada or the United States, and to Bermuda, Central America, Caribbean from Western Canada or the United States, with a maximum ticket price of $1,100. All applicable taxes, service fees and surcharges are the responsibility of the traveler. For more details, including information on redeeming for first class and business class seats, visit: https://www.avionrewards.com/travel/index.html. If you are not an RBC Avion Cardholder, different redemption rates apply. Avion points can also be redeemed for travel, gift certificates/cards, brand name merchandise, and more. All rewards are subject to availability and may change without prior notice. For complete terms, conditions and restrictions that apply to the Avion Rewards program, please visit: www.avionrewards.com or call 1-800 ROYAL 1-2 (1-800-769-2512).

For Switch transactions we will pay, when applicable, the basic title insurance fee (up to $700 in Atlantic: New Brunswick, PEI, Nova Scotia, Newfoundland & Labrador, up to $1000 in Quebec and up to $500 in the rest of Canada), processing fee (up to $300) and one discharge fee (up to $300 maximum discharge fee, except Quebec). Offer excludes mortgage prepayment charges (“breakage fees”) that you may have to pay. The mortgage with RBC must have a principal amount of $100,000 or more ($75,000 minimum for Atlantic: New Brunswick, PEI, Nova Scotia, Newfoundland & Labrador, Manitoba, Saskatchewan, and Quebec). Offer eligible only for a new RBC closed mortgage with a three-year or greater fixed interest rate or a five-year variable rate term.