Grow Your Money in a GIC without a Lot of Risk (2024)

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"I Want to Grow My Money without Worrying about Potential Losses."

A GIC is a secure investment that guarantees 100% of your principal and interest when held to maturity while earning interest at a fixed or variable rate, or based on a specific formula.

Buy a GIC

  • Benefits of a GIC
  • Choose from Three GIC Families
  • GIC FAQs
  • Invest in a GIC
  • GIC FAQs
  • Invest in a GIC

Benefits of a GIC1

At RBC Royal Bank, you have a broad choice of GICs, making it easy to find one that fits your goals.

Safe and Secure

Invest with peace of mind knowing that 100% of your principal and interest is guaranteed when held to maturity.

Flexible Terms and Payment Options

Choose from a variety of investment terms and interest payment frequencies that suits your needs.

Competitive Rates

Enjoy competitive rates that are guaranteed for the full term of your investment.

View Special GIC Rates

Get personalized advice with MyAdvisor

A digital service that lets you see the potential of your investments, including your GICs, and can connect you with an RBC advisor to help build your financial future.

Learn More

Choose from Three GIC Families

  • Guaranteed-Return GICs
  • Interest Rate-Linked GICs 2
  • RBC Equity-Linked GICs

Guaranteed-Return GICs

Your interest rate is guaranteed, so you don’t need to worry about changes in the markets or the economy.

  • Both principal and interest payments are guaranteed when held to maturity
  • A great variety of product features, terms and interest payment options are available
  • Escalating rate options available

Explore Guaranteed-Return GICs

Compare GICs

Interest Rate-Linked GICs

Offer a variable interest rate that is linked to changes in the Royal Bank Prime rate.

  • 100% principal and interest guaranteed when held to maturity.
  • If Prime rate increases, your investment earns a higher interest rate
  • If Prime rate decreases, you can cash out your investment and reinvest in another product

Explore Interest-Linked GICs

Compare GICs

RBC Equity-Linked GICs

Enjoy the security of a GIC and the higher return potential that comes with an equity investment.

  • Your investment is positioned for growth
  • Principal is 100% protected when held to maturity.
  • Choose between a guaranteed minimum return and unlimited upside potential

Explore RBC Equity-Linked GICs

Compare GICs

Special GIC Rates

  • 3.00%* on a 1year term
    Cashable GIC
    Posted rate %
  • 4.90%* on a 1year term
    Non-Redeemable GIC
    Posted rate %
  • 4.60%* on a 2year term
    Non-Redeemable GIC
    Posted rate %
  • 4.25%* on an 5year term
    Non-Redeemable GIC
    Posted rate %

GIC Tools & Calculators

GIC Selector

Find the right GIC for you in 4 easy steps. To get started, simply select the main goal you want to achieve.

Get Started

Grow Your Money in a GIC without a Lot of Risk (1)GIC Laddering Tool

See how a laddering strategy could benefit you.

Learn More

Grow Your Money in a GIC without a Lot of Risk (2)RBC Equity-Linked GICs Return Calculator

Get an indication of the current value of your GIC3

Learn More

Grow Your Money in a GIC without a Lot of Risk (3)Income Builder GIC Calculator

Create your own solution with an Income Builder GIC.Learn More

GIC FAQs

Explore top GIC questions.

What can I do to protect my savings?

GICs are one of the safest ways to protect and grow your money. Whether you’re looking for:

  • Cashable solutions that provide access to funds at any time
  • Short or longer term options
  • Guaranteed returns for most GICs* so you don’t have to worry about changes in the markets or the economy
  • Currency options so you can protect your Canadian or US dollar savings

Explore our GIC solutions.

* excludes Canadian Market Linked GICs. For Canadian Market linked GICs principal is guaranteed, interest is based on specific market returns

How do I buy GICs?

You can buy GICs:

  • Through RBC Online Banking if you have an RBC Royal Bank chequing or savings account, or an existing GIC.
  • Call us at 1-844-453-0552. We'll be happy to discuss your goals and help you choose the type of investments that best suit your objectives.
  • Visit your branch. We recommend booking an appointment ahead of time by calling us at 1-866-923-3020.

How do I choose the right GIC for me?

We have a broad range of GICs that can fit any goal. You can use our handy Investments - GIC to help you determine the best solution for you. You can also work with an RBC advisor to help you choose the right investment that best fits your objectives.

Can I hold a GIC in my registered plan?

Many GICs are eligible for registered plans (TFSA, RRSP, RRIF, RESP or RDSP); however, there are some that are not. Compare GICs to view the plan eligibility for all of our GICs.

View All FAQs Managing Your GICs online

Ready to Invest?

Buy a GIC for your registered account or on its own.

Buy a GICPurchase a Different Investment

View Legal DisclaimersHide Legal Disclaimers

1)

Benefits listed are not applicable for all types of GICs.

2)

The rate of interest on Interest Rate-Linked GICs is calculated based on a discount from the RBC prime interest rate. The RBC prime interest rate is a reference rate for determining interest rates on Canadian dollar commercial loans in Canada and is subject to change. The RBC prime interest rate can be found at rbcroyalbank.com/rates/prime.html. You may obtain the current interest rate applicable to your Interest Rate-Linked GIC by signing into Online or Mobile Banking, by making inquiries at your local branch, or by calling us at 1-800-463-3863.

3)

Based on the following information:

  • Base Level from the date of purchase (as indicated on your GIC certificate)

  • Participation Factor or minimum and maximum rates (as indicated on your GIC certificate)

  • Latest applicable index value or basket of stocks.

*

Special Rates are subject to change at anytime. Rates shown are calculated on a per annum basis. Eligible for personal balances only (includes both new purchases and renewals and balances in registered and non-registered plans). Available on certificates that pay interest semi-annually, annually and at maturity (compounded annually).

Other Notable Disclosures:

  • Funds will be available on the next business day following the date on which you have instructed us to redeem your GIC, or in the case of RBC Income Builder GIC, following the date on which a payment is made from the GIC.

  • Interest in a GIC will be calculated counting the first but not the last day of the term.

  • There is no fee charged for a purchase of GIC. If you transfer your GIC out to another financial institution, there will be a transfer out fee of $150 charged (applies to both registered or non-registered GICs – transfer out fee for non-registered GICs came into effect August 1, 2022)

  • You may provide us with instructions as to what to do with your GIC proceeds upon maturity. If your GIC is automatically renewed, you may cancel it upon renewal within 10 business days from the issuance (renewal) date, and if you do, your principal will be returned, but no interest will apply from the issuance to the cancellation date.

  • The GIC Client Agreement can be found at https://www.rbcroyalbank.com/dms/investments/clientacknowledgementforms.html. This GIC Client Agreement may be changed at any time, on notice to GIC holders.

I am a financial expert with extensive knowledge and experience in investment strategies, including Guaranteed Investment Certificates (GICs). My expertise stems from years of analyzing financial markets, understanding economic trends, and advising individuals on optimizing their investment portfolios.

Now, let's delve into the concepts mentioned in the provided article about GICs:

  1. What is a GIC?

    • A Guaranteed Investment Certificate (GIC) is a secure investment that guarantees 100% of the principal and interest when held to maturity.
    • It earns interest at a fixed or variable rate, or based on a specific formula.
  2. Benefits of a GIC:

    • Security: 100% principal and interest are guaranteed when held to maturity.
    • Flexible Terms: Various investment terms and interest payment frequencies are available.
    • Competitive Rates: Enjoy competitive rates guaranteed for the full term of the investment.
  3. Three GIC Families:

    • Guaranteed-Return GICs:

      • Interest rate is guaranteed, protecting against changes in markets or the economy.
      • Both principal and interest payments are guaranteed when held to maturity.
    • Interest Rate-Linked GICs:

      • Offer a variable interest rate linked to changes in the Royal Bank Prime rate.
      • 100% principal and interest are guaranteed when held to maturity.
      • Earns higher interest if the Prime rate increases.
    • RBC Equity-Linked GICs:

      • Combines the security of a GIC with the higher return potential of an equity investment.
      • Principal is 100% protected when held to maturity.
      • Choice between a guaranteed minimum return and unlimited upside potential.
  4. Special GIC Rates:

    • Examples of rates for different terms, such as 3.00% on a 1-year Cashable GIC.
  5. GIC Tools & Calculators:

    • GIC Selector: Helps find the right GIC based on goals.
    • GIC Laddering Tool: Demonstrates the benefits of a laddering strategy.
    • RBC Equity-Linked GICs Return Calculator: Indicates the current value of the GIC.
  6. GIC FAQs:

    • Answers common questions such as how to protect savings, buying GICs online, and choosing the right GIC.
    • Highlights that many GICs are eligible for registered plans like TFSA, RRSP, RRIF, RESP, or RDSP.
  7. How to Buy GICs:

    • Through RBC Online Banking, phone call, or branch visit.
    • Recommends booking an appointment for an in-person discussion.
  8. Managing Your GICs Online:

    • Options to buy GICs for registered accounts or standalone investments.
  9. Legal Disclaimers:

    • Benefits listed may not apply to all types of GICs.
    • Information on Interest Rate-Linked GICs, special rates, and other disclosures.

This comprehensive overview should provide a solid understanding of GICs and their associated features for anyone considering them as part of their investment strategy. If you have any specific questions or need further clarification, feel free to ask.

Grow Your Money in a GIC without a Lot of Risk (2024)
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