1 yr = 5¼%, 2 yr = 5.30% (via RBC Online Banking) | RBC Royal Bank | Discussion forum

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1 yr = 5¼%, 2 yr = 5.30% (via RBC Online Banking)
August 27, 2023
8:43 am
Norman1
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From RBC website online banking non-redeemable GIC purchase page:

1 Year Non-Redeemable GIC
4.05% Posted Rate
1.20% Your Bonus
5.25% Your Rate

2 Years Non-Redeemable GIC
4.25% Posted Rate
1.05% Your Bonus
5.30% Your Rate

August 27, 2023
8:07 pm
Pirithous
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Had those same rate offers recently as well when I went to purchase a GIC, along with special offers for other term lengths as well. Interesting that RBC offers 5-10bps in addition to existing special rates. Makes me wonder how much more room there is for even better rates?

Pirithous

"Sometimes I do what I want to do. The rest of the time, I do what I have to."

August 28, 2023
9:21 am
Norman1
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There's probably a bit of improvement still possible.

Via Scotia iTRADE, Royal Bank of Canada one-year and two-year GIC's are both 5.40%. Bank of Nova Scotia one-year and two-year GIC's are both 5.45%.

Via BMO InvestorLine, Bank of Montreal one-year GIC's are 5.54% and the two-year ones are 5½%.

August 28, 2023
7:05 pm
DLm@nning
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Where do you find the cashable and non-redeemable GIC rates within Posted, Posted specials and online rates on RBC online banking?

August 28, 2023
7:41 pm
Norman1
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The rates will be visible through the GIC purchase pages of one's GIC investment account in RBC online banking.

One will need to open a GIC investment account in RBC online banking if one doesn't have such an account already from previous GIC purchases.

August 28, 2023
10:20 pm
Pirithous
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@DLm@nning: One small clarification I would add to Norman1's reply to you, is that it does not have to be a GIC investment account (does such a thing exist? Honest question!). You need an investment account with RBC (non-registered or registered [TFSA, RRSP, RESP, etc]) that you can access via online/mobile banking, and from where you have either previously or are able to now, purchase a GIC.

The system will take you through the steps and so forth until you are redirected to the page with all of the rate offers and term lengths.

I know what Norman1 meant, so not knocking the reply! But just for anyone who is really new to managing their own investing affairs online. The terminology is dense, confusing at times, and different between institutions and even individuals!

Pirithous

"Sometimes I do what I want to do. The rest of the time, I do what I have to."

August 30, 2023
5:11 am
Norman1
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With RBC, one cannot invest in GIC's with just an RBC chequing account or RBC savings account, like one can with, for example, Hubert Financial.

One needs to open a separate GIC investment account with the RBC branch to hold the RBC GIC's. There's no cost for the GIC investment account. One can add a GIC investment account through online banking and no branch visit is needed.

August 30, 2023
5:53 am
zgic
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Norman1 said
From RBC website online banking non-redeemable GIC purchase page:

1 Year Non-Redeemable GIC
4.05% Posted Rate
1.20% Your Bonus
5.25% Your Rate

2 Years Non-Redeemable GIC
4.25% Posted Rate
1.05% Your Bonus
5.30% Your Rate

  

I can only see 5.20% for a 2 year term. Could you please send me the link where it shows 5.30%

August 30, 2023
7:13 am
Norman1
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There's no public link for the "personalized" 5.25% and 5.30% GIC rates.

Those rates will be among the rates offered when one signs onto the RBC online banking web site, navigates into one's GIC account, and tries to purchase a non-redeemable GIC.

August 30, 2023
9:25 am
Alexandra
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Norman1 said
There's no public link for the "personalized" 5.25% and 5.30% GIC rates.

Those rates will be among the rates offered when one signs onto the RBC online banking web site, navigates into one's GIC account, and tries to purchase a non-redeemable GIC.  

Maybe there is a way around it but, if you go into "purchase" a GIC in order to see what your offering is, a GIC number will automatically be given even though you didn't actually invest in one. So next time you go on line, there is the silly GIC(s) with 0 funds listed in your investments. Currently, I have six GIC investments with zero funds on my list. Tried to get rid of them by phoning a rep, they say it will take a few weeks to go through but it never does.

I have taken advantage of their current 5.3% GIC. If CDIC has reached the max., for RBC you can select Royal Trust if you wish to expand your GIC holdings

August 30, 2023
2:53 pm
zgic
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I am still seeing 5.2% for 2 year. Below is the screenshot for today. Also when I go to Purchase GIC I can go till the step to find out the rate and cancel it. It does NOT create a zero funds GIC.
I went in and did a Purchase GIC to find the rate and I get 5.20%

This is what I see:

Screenshot-2023-08-30-180006.jpg

August 30, 2023
6:05 pm
Norman1
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That's not the place. You didn't sign into RBC online banking and try to purchase from within an RBC GIC account.

One should see a page that looks like this. Clicking on the first "Buy Now" button for a non-redeemable GIC and entering the GIC amount will show the personalized rates:

PurchaseGIC.png

August 31, 2023
9:37 am
Alexandra
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Norman1 said
That's not the place. You didn't sign into RBC online banking and try to purchase from within an RBC GIC account.

One should see a page that looks like this. Clicking on the first "Buy Now" button for a non-redeemable GIC and entering the GIC amount will show the personalized rates:

PurchaseGIC.png  

Thanks Norman. That is how I purchase my GIC's from RBC...by going into my RBC on-line banking. Have no idea why I get the GIC's with zero balance. Maybe when those happened it was because when I went into purchase (just to see my special rate), but did not purchase, I forgot to go back and cancel?sf-embarassed

August 31, 2023
3:18 pm
zgic
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Norman1 said
That's not the place. You didn't sign into RBC online banking and try to purchase from within an RBC GIC account.

One should see a page that looks like this. Clicking on the first "Buy Now" button for a non-redeemable GIC and entering the GIC amount will show the personalized rates:

PurchaseGIC.png  

Thanks Norman. I go to the same place everytime to purchase a GIC as you have shown and here is today's rate

Screenshot-2023-08-30-180006-1.jpg

September 3, 2023
10:13 am
Norman1
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I don't get the same result.

I tried again today. Clicked the first "Buy Now" button for a non-redeemable GIC. After I enter $1,000 for the amount, I'm shown these offers, including 1 year at 5¼% and 2 years at 5.30%:

GICoffer.png

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