Banking · GIC review
RBC Royal Bank GIC review
Canada's largest bank, with the convenience to match — but posted GIC rates that sit at the bottom of our table unless you negotiate a special offer.
Best for: RBC clients who value the branch relationship and will ask for a promo rate
Pros
- Canada's largest bank, with branches everywhere
- Full CDIC coverage and systemic-importance designation
- Special/promo rates sometimes beat the posted ladder
- Convenient if you already bank with RBC
Cons
- Posted rates sit well below online banks and credit unions
- You generally need a special offer to get a competitive rate
- $500 minimum to open
Who RBC is
RBC Royal Bank is Canada's largest bank, with the broadest branch and advisor network in the country. For a GIC buyer, the appeal is purely convenience and the comfort of the biggest, most familiar institution — not the rate.
The rates in our table are RBC's standard posted non-redeemable GIC curve. RBC also runs special and promotional offers from time to time that can beat the posted ladder, but you generally have to ask for them.
The rates — the lowest in our table
RBC's posted GIC rates are among the lowest we track, sitting at the bottom of the comparison alongside Scotiabank. On the posted ladder, it pays well under half a point more than the leaders give you in extra return.
Your best shot at a competitive RBC rate is a special offer — periodic promotions that improve on the posted numbers. Even then they trail the online leaders, so compare whatever you are quoted against the field on our best GIC rates page.
Safety and deposit insurance
RBC GICs are covered by CDIC — up to $100,000 per depositor, per insured category, covering principal and interest if the bank ever failed. As Canada's largest bank, RBC is designated systemically important, but the same $100,000 ceiling applies for deposit insurance.
For balances above $100,000, spread across categories or institutions to stay fully covered. Our CDIC guide walks through how.
Frequently asked questions
What are RBC Royal Bank's GIC rates today?
As of June 13, 2026, RBC Royal Bank posts 2.70% on a 1-year term, 2.80% on a 2-year term, 2.55% on a 3-year term, 2.70% on a 4-year term, 3.10% on a 5-year term on non-redeemable GICs. Rates change without notice — see how they compare against every issuer on our best GIC rates table, refreshed daily.
What is the minimum to open a RBC Royal Bank GIC?
$500. RBC Royal Bank also offers registered versions, so you can hold these GICs inside a TFSA, RRSP or RRIF.
Are RBC Royal Bank GICs protected if the bank fails?
CDIC-insured to $100,000 per category. See our deposit-insurance guide for how to structure larger amounts.
The bottom line
RBC is the definition of a convenience pick: the biggest bank, the broadest network, and the lowest posted GIC rates in our table. Unless you can negotiate a special offer, you are leaving real return on the table — the leaders near the top of our comparison table pay meaningfully more for the same lock-in.
Ready to compare RBC Royal Bank against the field?
See where its rate sits today across every issuer and term.
This review is for educational purposes only and is not financial advice. Rates shown are posted non-redeemable rates compiled by hand and last checked June 13, 2026; they change frequently. Our editorial rating reflects rate competitiveness, coverage, minimums, and account features — it is never paid for. Confirm current rates, terms, and CDIC or provincial deposit-insurance details on the issuer's website before investing. See our methodology for how we rate products and make money.