Compare the best RBC savings accounts
Want to open an RBC savings account? Why not compare your options? Find the highest-earning savings accounts in Canada from multiple banks in seconds.
RBC savings accounts
Rates updated:
Viewing with a balance of
$63 first year return based on
$5,000 balance
- Monthly fee
- $0.00
- Transaction fees
- $0.00
- E-transfer
- $0.00
$3 first year return based on
$5,000 balance
- Monthly fee
- $0.00
- Transaction fees
- $5.00
- E-transfer
- $1.00
$1 first year return based on
$5,000 balance
- Monthly fee
- $0.00
- Transaction fees
- $2.00
- E-transfer
- $1.00
$1 first year return based on
$5,000 balance
- Monthly fee
- $0.00
- Transaction fees
- $0.00
- E-transfer
- $0.00
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The best savings accounts in Canada
High interest
1.25%Free transactions, sign up in 5 minutes
Get this rateTFSA
1.25%Get this rateRRSP
1.25%1.25% interest* on every tax-deferred dollar
Get this rateHSBC High Rate Savings Account
1.75%Open an HSBC Canadian Dollar High Rate Savings Account and enjoy a total interest rate of 1.75% on New Deposits± from September 13, 2021 to December 16, 2021.
Get this rate
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Mikael Castaldo, Senior Business Manager Everyday Banking
About RBC
Royal Bank of Canada (RBC) is the largest bank in Canada and has operations in 38 countries. RBC offers a number of savings accounts with varying rates and support from RBC’s network of branch locations and bank ATMs. This network is the largest across Canada, as RBC offers clients convenient access to accounts through more than 4,600 banking machines and online, mobile, and telephone banking services.
Compare RBC's savings accounts
All insured by CDIC insurance, RBC savings accounts vary from high interest, tiered interest, to basic savings accounts.
RBC Royal Bank High Interest eSavings Account
RBC’s Royal Bank High Interest eSavings Account is an online savings account that offers a competitive annual interest rate. Some main benefits of the Royal Bank High Interest eSavings account are: It offers unlimited online transfers to other RBC accounts, one free withdrawal per month, and has no monthly fee. E-transfers are $1.00 each and withdrawals from external ATMs cost $1.50 per transaction.
RBC Royal Bank Leo's Young Savers Account
The Royal Bank Leo’s Young Savers Account is for children 0 to 19 years old. The Leo’s Young Savers Account includes 15 debits per month and unlimited Interac e-Transfers. At non-RBC ATMs, withdrawals will cost $1.50 per transaction.
RBC Royal Bank Day to Day Savings Acccount
The Day to Day Savings account is designed for those who are just beginning to save. Interest rates are tiered and the highest possible rate earned when balances exceed $5,000. The account has no monthly fee and there’s one free debit transaction included each month. However, individual transaction fees of $2.00 apply in addition to charges for e-transfers and withdrawals from external ATMs.
RBC Royal Bank Enhanced Savings Account
For this account, interest is earned only on balances of more than $5,000, from which the tiered rate begins. There’s no monthly fee for the Royal Bank Enhanced Savings account. Rather, it charges $2.00 for each transaction, $1.00 for E-transfers, and $1.50 for withdrawals from non-RBC ATMs.
Compare other RBC products
You can also find non-registered GICs from RBC in addition to its series of savings accounts.
Get the best savings account
RBC offers a number of savings account options. If these savings accounts don't quite match up with what you're looking for, try our savings account comparison tool to see how RBC's rates compare to other financial institutions.
Mikael Castaldo, Senior Business Manager of Everyday Banking
Mikael is a Senior Business Manager at Ratehub.ca and the driving force behind our Everyday Banking Team. He knows everything there is to know about the best credit cards and bank accounts, and works closely with Canada’s top financial institutions - from banks to credit unions - to help ensure our over 1,200,000 monthly users get matched with the right plastic. A numbers guy at heart, having worked as a strategy consultant at the Boston Consulting Group, he’s found himself right at home as a personal finance expert at Ratehub.ca.
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