RBC High Interest eSavings
As of October 22, 2026, the RBC High Interest eSavings pays 4.60% for new clients for 3 months, then 0.55% base interest.
CDIC insuredRates verified October 22, 2026
Calculate your RBC interest
Conditions: First RBC High Interest eSavings account; 3 months (90 days) up to $1,000,000
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Key account terms
Canada's largest bank offering a secure place to park cash, often with bonus rates for new clients.
- Monthly fee
- $0
- Minimum deposit
- $0
- Transactions
- Fees Apply
- Transfer speed
- Instant (Internal)
Pros and considerations
What we like
- Convenience for existing clients
- Instant internal transfers
- Top-tier security
Watch out for
- Low base interest rate
- Transaction fees for external transfers
- Lower value than online banks
Frequently Asked Questions
Everything you need to know about RBC's savings rates, terms, and account features.
Is the rate competitive?
Usually lower than online banks, but convenient for RBC clients.
Is RBC deposit-insured and safe?
Yes. With RBC, eligible deposits are insured up to $100,000 per category by the Canada Deposit Insurance Corporation (CDIC). This protection guarantees that your principal deposit and accumulated interest remain safe against institutional failure.
How is interest calculated and paid on the RBC High Interest eSavings?
Interest is calculated daily based on your account's closing balance and deposited directly into your balance on the final business day of each month, compounding your yield monthly.
Can I withdraw my money from RBC at any time?
Yes. Unlike a GIC (Guaranteed Investment Certificate) which locks in funds for a predetermined duration, this high-interest savings account offers complete liquidity. You can transfer money out at any time without penalty or loss of earned base interest.
How is interest earned at RBC taxed in Canada?
In non-registered accounts, interest earned is treated as regular taxable income by the Canada Revenue Agency (CRA). RBC will issue a T5 tax slip if your annual interest exceeds $50 (or upon request for lower amounts). If held inside a TFSA, interest is 100% tax-free.
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