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Safety Comes First as Canadians Look to Guaranteed Investment Certificates to Protect Their Investments: RBC Poll

Safeguarding principal top priority

TORONTO, September 25, 2012 - Canadians rank safety of their investments as more important than the highest interest rates when considering Guaranteed Investment Certificates (GICs), according to The Guarantees in Life: RBC 2012 GIC Poll. Four-in-10 Canadians (44 per cent) who hold GICs - or would consider holding them - place safety first; highest interest rates come in second, at 32 per cent.

"While the popular belief is that the best rate is paramount when choosing to invest in GICs, our findings confirm that Canadians consider guaranteed principal first and foremost, for the protection and safety of their investment," said Rosalyn Kent, head, GICs and Savings, RBC. "We also found that most Canadians are taking a long-term view of their GIC investments, with 65 per cent saying that, when deciding to purchase a GIC, having the flexibility to cash in their GICs before their maturity date was the least important consideration."

The RBC 2012 GIC Poll found that today's GIC investors would be interested in increased benefits and flexibility, such as:

  • GICs that offer an interest rate that increases every year (80 per cent)
  • GICs that provide a regular income (70 per cent)
  • GICs that are linked to the stock market (65 per cent)

"There are many GIC options available, including GICs that help you maximize your rate of return and GICs that provide you with regular income. Information is readily accessible in our branches and online to explain the benefits of each," added Kent. "RBC's GIC Selector and GIC Comparison Tool, for example, are easy and informative resources which can help investors choose the type of GIC that best fits their lifestyle and goals."

About RBC's Guaranteed Investment Certificates, financial advice and interactive tools

Canadians can access free resources and information about ways to invest in RBC GICs at rbcroyalbank.com/products/gic/. RBC's GIC Selector and GIC Comparison Tool are available at no cost to help Canadians chose the type of GIC that best fits their lifestyle and goals. Other free interactive tools and calculators, providing customized information covering many facets of personal finance, are available on the RBC Advice Centre. Whether Canadians want to save and invest, protect what's important, borrow with confidence, get more from their day to day banking or take care of their businesses, the RBC Advice Centre can help answer any questions. With the guidance of RBC advisors who are available to chat live, Canadians have access to free, no-obligation professional advice about RBC products and services and personalized one-on-one service at rbcadvicecentre.com. In addition, all personal RBC online banking clients can use myFinanceTracker, a no-cost interactive financial management tool, to create a budget and track their spending habits.

About The Guarantees in Life: RBC 2012 GIC Poll

The RBC 2012 GIC Poll was conducted via the Ipsos I-Say Online Panel, Ipsos Reid's national online panel. A sample of 1,297 Canadian adults - with minimum household assets of $2,500 - was surveyed June 12 to 18, 2012. The results are based on a sample where quota sampling and weighting are employed to balance demographics and ensure that the sample's composition reflects that of the actual Canadian population according to Census data. Quota samples with weighting from the Ipsos online panel provide results that are intended to approximate a probability sample. An unweighted probability sample of 1,297, with 100 per cent response rate, would have an estimated margin of error of 3 per cent, 19 times out of 20. The margin of error within subgroups of the sample will be higher.

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For more information, please contact:

Suzanne Willers, 416 974-2727, suzanne.willers@rbc.com
Kathy Bevan, 416-974-8810, kathy.bevan@rbc.com

 

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