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Savings account

RBC

RBC Enhanced Savings

2.2/5 our rating

Open account

Opens RBC's website

Interest rate
Up to 0.01%
Monthly fee
$0

Overview

An RBC savings account with tiered rates that rise as your balance grows, and no monthly fee. Even the top tier pays very little, so the main appeal is convenience if you already bank with RBC. If you want your savings to grow, an online savings account will do far more.

Interest rates

  • $0.00 to $4,999.99

    0%

  • $5,000 to $9,999.99

    0.001%

  • $10,000 to $24,999.99

    0.005%

  • $25,000 and up

    0.01%

Fees

Account fees

Monthly fee

$0

eStatement

Included

Highlights

  • Earn interest with a higher amount going to those with greater balances
  • No monthly fees
  • No charge for transfers to any of your personal RBC deposit accounts
  • 1 free debit per month
  • No charge for using RBC ATMs

  1. The interest rate is an annual interest rate. It is a simple interest calculation. Interest is calculated daily on the closing credit balance and paid monthly. Interest rate is subject to change at any time without notice.
  2. Fees may apply on the account from which the money has been transferred.
  3. Transaction fees may apply for bill payments or funds transfers made through Online Banking and are separate from access fees.
  4. The following debits will not count toward the number of included Debit Transactions per Month: RBC Virtual Visa‡ Debits; Self-Serve electronic funds transfers from your personal deposit account to another personal deposit account in your name; pre-authorized or self-service transfers made to any RBC credit card; payments to your RBC Royal Bank personal loan, Royal Credit Line®, RBC residential mortgage or RBC Homeline Plan®; contributions made to RBC investments/ investment accounts such as Guaranteed Investment Certificates (GICs), Registered Retirement Savings Plans (RRSPs), Registered Education Savings Plans (RESPs), Registered Disability Savings Plans (RDSPs), Tax-Free Savings Accounts (TFSAs), and Royal Mutual Funds. Unless otherwise specified herein, all other debits, including bill payments, will count towards the number of included Debit Transactions and will result in an Excess Debit Transaction Fee if you go over the number of included debits per Month. Excess debit transaction fee may also apply depending on the account. Excess Debit Transactions are cumulative only within each month; you may not carry over unused free debit transactions from the previous month
  5. ATM - RBC ATM Access fees waived. An ATM operator surcharge (also called convenience fee) may be charged by other ATM operators. The convenience fee is not a Royal Bank fee. It is added directly to the amount of your cash withdrawal. All clients who use non-RBC ATMs may be charged a convenience fee regardless of the type of account they hold.
  6. ATM use outside Canada. Each account cash withdrawal at an ATM outside Canada displaying the PLUS System symbol, and any fees that may be imposed by any third party for using the ATM, are converted to Canadian dollars at an exchange rate which is 2.5% above the bench mark rate set by the payment card company when the transaction is posted. Exchange rates fluctuate and, as such, the rate applied will usually differ from the posted exchange rate at the time of the transaction.
  7. ATM - Unlimited banking transactions including Interac and PLUS System network fees waived
  8. ATM operator surcharge (also called a convenience fee) may be charged by other ATM operators. The convenience fee is not a Royal Bank fee and is added directly to the amount of your cash withdrawal. All clients who use non-RBC ATMs may be charged a convenience fee regardless of the type of account they hold. Each account cash withdrawal at an ATM outside Canada displaying the PLUS System symbol, and any fees that may be imposed by any third party for using the ATM, are converted to Canadian dollars at an exchange rate which is 2.5% above the bench mark rate set by the payment card company when the transaction is posted. Exchange rates fluctuate and, as such, the rate applied will usually differ from the posted exchange rate at the time of the transaction.
  9. ATMs - 3 withdrawals from other bank ATMs refunded per Monthly Cycle. ATM operator surcharge (also called a convenience fee) may apply. It is charged by a third party and added directly to the amount of your cash withdrawal. Totals are not cumulative, and if not used, may not be carried over into the next Monthly Cycle.
  10. On operating account only. $1 per cross border debit transaction on companion accounts. Not available on U.S. Personal Account.
  11. Foreign currency purchases paid by withdrawal from your Canadian dollar account are converted to Canadian dollars at an exchange rate 2.5% over the Interbank Spot Rate (as defined by Acxsys Corp.), effective at time of processing. Since exchange rates fluctuate, the rate applied will usually differ from the posted exchange rate at the time of your purchase.
  12. For a definition of an unauthorized transaction and for full details regarding the protections and limitations of the RBC Online Banking Security Guarantee, please see your Electronic Access Agreement. This guarantee is given by Royal Bank of Canada in connection with its Online Banking service.