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RBC High Interest eSavings Account
Winter 2019 % eSavings Bonus 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 Promotional Period (January 22, 2019), the annual Bonus Interest Rate was %;

“Deposit Account” means any personal deposit account in Canadian dollars you have opened with us in sole or joint ownership, including the RBC High Interest eSavings Account;

“Deposit Window” is the period from January 22, 2019 to April 30, 2019;

“Deposit Window Balance”, with respect to any day during the Deposit Window, is the least of the following amounts:

a) the End of Day eSavings Balance on that day minus the End of Day eSavings Balance on January 21, 2019;

b) the End of Day Net Balance on that day minus the End of Day Net Balance on January 21, 2019; or

c) $500,000.00;

“Eligible Client(s)” is defined in Section A below.

“Eligible eSavings Account” means an RBC High Interest eSavings account owned by an Eligible Client as Primary Owner on January 21, 2019, and that meets the eligibility criteria under section A below and is not excluded under section C below;

“End of Day eSavings Balance” means the balance in all Eligible eSavings Accounts at the end of any business day;

“End of Day Net Balance” means the combined balances in all Deposit Accounts at the end of any business day, held by you in sole and joint ownership;

“eSavings Bonus 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 January 22, 2019, the Regular Interest Rate was % per annum and the Bonus Interest Rate was % per annum, the Promotional Interest Rate was % per annum;

“Promotional Period” is the period from January 22, 2019 to April 30, 2019;

“Regular Interest Rate” is the interest rate for the RBC High Interest eSavings Account posted on our RateSetter. On January 22, 2019, the Regular Interest Rate was % per annum and is subject to change without notice;

“We”, “us”, “our”, the “Bank” mean Royal Bank of Canada or any of our deposit taking subsidiaries in Canada;

“You”, “your” mean the Eligible Client selected by us to whom we extended the eSavings Bonus Offer.

A. ELIGIBILITY

To be eligible for this eSavings Bonus Offer, you must have an Eligible eSavings Account and new funds (from non-Royal Bank of Canada sources) must be introduced to the Bank by way of deposit to your Eligible eSavings Account, during the Deposit Window. The eSavings Bonus Offer is only available to existing clients of the Bank who receive the eSavings Bonus Offer by email directly from the Bank and/or receive a notification that they are eligible to participate in the eSavings Bonus Offer when they log into RBC Online Banking (“Eligible Client(s)”).

B. DEPOSIT WINDOW

On each day during the Deposit Window, you will earn interest on the Deposit Window Balance at the Promotional Interest Rate. Interest is calculated daily. Interest at the Regular Interest Rate is paid monthly on the second business day of the following calendar month to the account in which it is earned. Interest at the Bonus Interest Rate is paid monthly on the second business day of the following calendar month. All interest earned at the Bonus Interest Rate across all Eligible eSavings Accounts will be paid into the Eligible eSavings Account of the Eligible Client with the earliest account open date. If the Promotional Period ends before the last day of the calendar month, interest at the Bonus Interest Rate is paid on the second business day after the last day of the Promotional Period.

C. EXCLUSIONS

1. The following are not eligible and are excluded from this eSavings Bonus Offer, and any funds deposited to the following accounts will not qualify for the Bonus Interest Rate:

(a) Any Deposit Account in U.S. dollars, including the RBC US High Interest eSavings® Account;

(b) Any Deposit Account with ownership in the name of an “Estate of …”;

(c) Any eSavings Account where an Eligible Client is not the Primary owner as of January 21, 2019. If the account ownership of that eSavings Account is changed to include an Eligible Client during the Promotional Period, that eSavings Account will remain ineligible for the eSavings Bonus Offer.

2. 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 during the month in which the Eligible eSavings account is closed or switched and the eSavings Bonus Offer will no longer apply.

D. LIMITATIONS

  • We may change the eSavings Bonus Offer and these Terms and Conditions at any time without giving you notice. The posting of the current Terms and Conditions 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 eSavings Bonus Offer, these Terms and Conditions shall prevail. You may always view the current Terms and Conditions 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 eSavings Bonus 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 eSavings Bonus Offer.
  • Your Deposit Accounts with us must be in good standing and not overdrawn in order for you to participate in the eSavings Bonus Offer.

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