1 yr = 5.35%, 2 yr = 5.40%, 3 yr = 5.10% (via RBC Online Banking) | RBC Royal Bank | Discussion forum

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1 yr = 5.35%, 2 yr = 5.40%, 3 yr = 5.10% (via RBC Online Banking)
December 9, 2023
11:06 am
Norman1
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RBC trimmed their one- and two-year GIC rates since two weeks ago.

From the RBC Online Banking website non-redeemable GIC purchase page:

1 Year Non-Redeemable GIC
4.05% Posted Rate
1.30% Your Bonus
5.35% Your Rate

2 Years Non-Redeemable GIC
4.25% Posted Rate
1.15% Your Bonus
5.40% Your Rate

3 Years Non-Redeemable GIC
4.00% Posted Rate
1.10% Your Bonus
5.10% Your Rate

 

December 9, 2023
12:23 pm
rhvic
Victoria, BC
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I have a fair number of investments at RBC, thus some bargaining power. I was in the market for a GIC, and pointed out to RBC that Motive has one year GIC at 6%. RBC basically matched that for me, so I now have a one year at 6% with RBC.

Squeaky wheel gets the grease.

December 9, 2023
12:41 pm
Warwick111
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These rates are 0.1% higher than the rates on the official RBC GIC rates webpage. I am curious so I logged in to my TD account and their GIC rates are also .05% to 0.1% higher than their official TD GIC rates webpage.
Wondering why the marketing department would advertise a lower rate to the public and reward existing customers when the banks usually only reward new customers with sign in bonus and existing customers never get any perks.

December 9, 2023
2:03 pm
Norman1
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A possible reason is that investing in a GIC through RBC Online Banking or TD EasyWeb costs RBC and TD Bank less than doing the same, in person, at one of their physical branches.

December 11, 2023
11:25 am
kesa
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any reason why the big banks are not represented in the GIC chart?

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