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Popular Investment Plans in Canada
Your future is important. Whether you’re here to stay or in Canada just for a while, with RBC you can invest in Canada’s popular investment plans to help you save, grow and protect your money.
Tax-Free Savings Account (TFSA)
How can I use it?
Save for anything you want in the next few years⎯an emergency fund, a car, renovation or retirement.
What is it?
A registered savings plan where investment earnings and withdrawals are tax-free41.
- Canadian residents
- Permanent residents/landed immigrants
- Foreign workers42
- International students
Eligibility requirements:
- Have reached age of majority in your province of residence
- Have a Social Insurance Number
Are contributions tax-deductible?
No
Do savings grow tax-free or tax-deferred?
Tax-free41
Are withdrawals taxed?
Never
What investment products can I hold in it?
- Cash
- GICs
- Mutual funds
- Savings deposits
- Stocks, bonds, Exchange-Traded Funds (ETFs) and more46
Annual contribution limits
$6,000 for 2019 (subject to change) plus any unused contribution room from previous years54
Do I need to earn an income to contribute?
No
Registered Retirement Savings Plan (RRSP)
How can I use it?
Set money aside now, while you’re still working, to use when you retire.
What is it?
A registered investment plan where investment earnings are tax-deferred until retirement, and contributions are tax-deductible.
Are contributions tax-deductible?
Yes⎯contributions reduce your taxable income
Do savings grow tax-free or tax-deferred?
Tax-deferred, until withdrawal
Are withdrawals taxed?
Yes⎯withdrawals are added to taxable income the year the money is withdrawn
What investment products can I hold in it?
- Cash
- GICs
- Mutual funds
- Savings deposits
- Stocks, bonds, Exchange-Traded Funds (ETFs) and more46
Annual contribution limits
18% of previous year's earned income, less any pension adjustment, up to the maximum annual contribution limit45
Do I need to earn an income to contribute?
Yes
Registered Education Savings Plan (RESP)
How can I use it?
Save for a child’s post-secondary education costs.
What is it?
A registered investment plan where investment earnings are tax-deferred. Some contributions are eligible for government incentives.43
Eligibility requirements:
- Have a Social Insurance Number (Canadian residency not required)
The beneficiary of an RESP (or the student), must:
- Be a Canadian resident or permanent resident/landed immigrant
- Have a Social Insurance Number
Are contributions tax-deductible?
No
Do savings grow tax-free or tax-deferred?
Tax-deferred,43 until withdrawal
Are withdrawals taxed?
May be taxed at a lower rate, or not taxed at all, when paid out to the beneficiary (or student) for their education costs
What investment products can I hold in it?
- Cash
- GICs
- Mutual funds
- Savings deposits
- Stocks, bonds, Exchange-Traded Funds (ETFs) and more46
Annual contribution limits
No annual limit, but there is a lifetime contribution limit of $50,000 per beneficiary
Note: There are also government grants and bonds that you may be able to take advantage of to grow your child’s savings faster
Do I need to earn an income to contribute?
No
Non-Registered Investment Account
How can I use it?
Save for any reason in a flexible account that gives you easy access to your money.
What is it?
A non-registered investment account that you can contribute any amount to and withdraw from when needed.
- Canadian residents
- Permanent residents/landed immigrants
- Foreign workers
- International students
Eligibility requirements:
- Have reached age of majority in your province of residence
- Have a Social Insurance Number
Are contributions tax-deductible?
No
Do savings grow tax-free or tax-deferred?
Investment income, interest and capital gains are taxed
Are withdrawals taxed?
Yes
What investment products can I hold in it?
- Cash
- GICs
- Mutual funds
- Stocks, bonds, Exchange-Traded Funds (ETFs) and more46
Annual contribution limits
No limit to how much you can contribute
Do I need to earn an income to contribute?
No
Note: The chart above is intended for general information purposes only. It should not be regarded as comprehensive or a substitute for professional advice. For complete details on eligibility, contributions, withdrawals and more, please talk to an advisor.
Investment Products at RBC
To protect your initial investment or explore opportunities to grow your money, you can choose from our broad lineup of products, including:
Savings Deposits
A savings deposit is simple and safe, giving you easy access to your money and guaranteeing your original investment (principal) and the interest you earn.
May be right for you if:
- You want to make a last-minute contribution to a registered plan
- You’re not sure how you want to invest your money
- You're looking to start saving in a registered account/plan
Guaranteed Investment Certificates (GICs)
A GIC is a secure fixed-income investment that guarantees 100% of your original investment, while earning interest at a fixed or variable rate, or based on a specific formula.
May be right for you if:
- You want the security of knowing that 100% of your original investment is protected
- You seek competitive rates that are guaranteed for the full term of your investment, including preferred rates for newcomers16
- You’re looking for more growth potential than a savings deposit
Mutual Funds
A mutual fund is an easy way to invest in a pool of stocks, bonds and other investments that is managed on your behalf by a professional money manager.
May be right for you if:
- You want to benefit from the expertise of a professional money manager
- You’re looking to diversify your investments (a strategy to help reduce risk by holding investments across a variety of regions, sectors, industries and issuers)
- You’re looking for more growth potential than a savings deposit or GIC
- You want ease and convenience
Exchange-Traded Funds (ETFs)46
An ETF is similar to a mutual fund, except an ETF trades like a stock on an exchange. Like a mutual fund, you can buy ‘units’ in an ETF to own a proportional interest of a pool of assets (such as stocks or bonds).
May be right for you if:
- You’re looking for instant diversification
- You prefer their lower fees compared to other types of investments
- You need the flexibility to easily buy and sell
Stocks46
Stocks (or equities) let you purchase a small part of an individual company. You can participate in and benefit from the company’s growth, and potentially receive tax-efficient dividend income and capital gains.
May be right for you if:
- You’re comfortable with fluctuating returns
- You want the potential for greater long-term returns compared to cash and fixed-income investments like GICs
- You’re looking to earn dividends and capital gains
Bonds46
Bonds are conservative fixed-income investments issued by a company or government. When you buy a bond, the bond issuer pays you interest for a specific time period and repays your initial investment when the bond matures.
May be right for you if:
- You want to reduce the overall risk in your investment portfolio
- You want a relatively safe investment
Ways to Invest at RBC
There are a number of ways you can invest with us here at RBC. Not sure what’s right for you? No problem—we can help guide you!
With an RBC Royal Bank advisor
Whether you are saving for retirement, a big purchase, or your child’s education, RBC Royal Bank advisors and financial planners can provide you with holistic financial advice from goal planning to investment decisions. As an RBC Client you have access to MyAdvisorAnother RBC site, where you can keep an eye on all your investments, track your goals and connect with an advisor for personalized advice in person, by phone or via video chat.
With an RBC Wealth Management advisor
A dedicated RBC Wealth Management advisor can help you with your sophisticated or complex investing and wealth management needs. Advisors can create a personalized investment portfolio drawing on a complete range of investment choices, and provide customized wealth management solutions.
Visit RBC Wealth ManagementAnother RBC siteSelf-directed, online investing with RBC Direct Investing
For those who want to make their own investment decisions, RBC Direct Investing offers in-depth research, a wide range of investment choices and accounts, and an innovative Community where you can learn, share ideas and connect with other investors—so you can invest online with confidence. Want to see how it works? Open a Practice Account to try online investing, risk free!
Visit RBC Direct InvestingAnother RBC siteOnline with RBC InvestEase, guided by a portfolio advisor
If you want to leave the investing work to experts, RBC InvestEase can recommend an automated, online investment plan made up of a mix of ETFs in a professional portfolio. Our advisors work behind the scenes to help you stay on track.
Visit RBC InvestEaseAnother RBC siteThe RBC Newcomer Advantage
We know that you and your family have unique needs. Let us help. With the RBC Newcomer Advantage1 you can get everything you need for a great financial start in Canada. We are Canada’s largest bank* and leading financial institution, and we’ve been providing advice and solutions to newcomers for over 148 years.
Why Newcomers Love Our Investment Solutions
With so many types of investments available in Canada, it can feel overwhelming to get started. We can help, with expert advice and the guidance you’ll need to create a bright future for you and your family.
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Start investing before you have permanent residency
If you’re in Canada under a temporary work or study permit, you can still invest for the years ahead.
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Earn a better rate on a safe, secure investment
We offer newcomers preferred interest rates on select Guaranteed Investment Certificates (GICs).16
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Save for all the important things in life and track your progress
Whether you're saving for a home or your kids’ education, we can help create a personalized investment plan.
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Build and protect your wealth with confidence
We make it easier to manage your more complex wealth management needs.
How to Invest
How do you want to invest? Talk to us today and we’ll help you start investing for your future in Canada.
See details on investing options under Ways to Invest at RBC.
For help making investment decisions:
Visit a Branchand Ask for an Advisor
Call 1-800-463-3863Call 1-800-463-3863For professional advice to help you invest your wealth:
Visit RBC Wealth ManagementTo make your own investment decisions with support from online research and tools:
Visit RBC Direct InvestingTo invest online the easy, automated way:
Visit RBC InvestEaseView Investment Legal DisclaimersHide Investment Legal Disclaimers
Investment advice is only provided by Royal Mutual Funds Inc. (RMFI) and RBC Dominion Securities Inc. (RBC DS) to their respective clients. RMFI is licensed as a financial services firm in the province of Quebec. RMFI, RBC DS, RBC Direct Investing Inc. (RBC DI) and Royal Bank of Canada are separate corporate entities which are affiliated. RBC DS and RBC DI are members of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. Royal Bank of Canada and certain of its issuers are related to RMFI, RBC DS and RBC DI.
RBC DI does not provide investment advice or recommendations regarding the purchase or sale of any securities. Investors are responsible for their own investment decisions. RBC Direct Investing is a business name used by RBC DI.
This publication is for informational use only and is furnished on the basis and understanding that none of RMFI, RBC DS, RBC DI and Royal Bank of Canada, nor any of their respective employees, agents or information suppliers, are to be under any responsibility or liability whatsoever in respect hereof. The strategies, advice and technical content in this publication are provided for the general guidance and benefit of readers based on information believed to be accurate and complete, but we cannot guarantee the accuracy or completeness of such information. Interest rates, market conditions, tax and legal rules and other investment factors are subject to change. This publication is not intended as nor does it constitute tax or legal advice. Readers should consult their own professional advisors when planning to implement a strategy. This will ensure that individual circumstances have been considered properly and that action is taken based on the latest available information.
Mutual funds are distributed through RMFI, RBC DS and RBC DI. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Please read the prospectus or Fund Facts before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation or by another government deposit insurer, their values change frequently, and past performance may not be repeated. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.
View Legal DisclaimersHide Legal Disclaimers
If you are a post-secondary student and are the Primary Owner or co-owner of an RBC Student Banking or RBC No Limit Banking for Students account (each an Eligible Bank Account) and the primary cardholder of one of the eligible RBC Royal Bank credit cards listed below, you may be entitled to a rebate on your annual fee, every year, as long as you:
complete the Student Information section of the credit card application form in full;
remain a student; and
are the primary or co-owner of an Eligible Bank Account throughout your studies.
| Eligible Credit Cards | Annual Fee Rebate |
|---|---|
| Signature RBC Rewards Visa card† | $39 |
| WestJet RBC Mastercard | $39 |
Subject to credit approval
You will continue to benefit from the rebate on your annual fee: i) until you close your Eligible Bank Account, or ii) until the Expected Graduation Year you have provided upon opening your Eligible Bank Account, whichever comes first. Thereafter, you will no longer receive the rebate on the annual fee.
If, for some reason, the Expected Graduation Year you have provided at the time of opening your Eligible Bank Account differs from the one you indicate on your credit card application form, the Expected Graduation Year you have provided at the time of opening of your Eligible Bank Account will prevail and be used for determining the expiry of this offer.
Additional cardholders are not eligible for this offer. Only one credit card annual fee rebate per Eligible Bank Account is allowed. This means that if both the primary owner and co-owner of an Eligible Bank Account are also the primary cardholders of an Eligible Credit Card each, only the primary owner of the Eligible Bank Account will be entitled to the credit card annual fee rebate.
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 that is 2.5% above the benchmark 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.
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
ATM - Unlimited banking transactions including Interac and PLUS System network fees waived
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.
The length of hold will be four (4) business days after the day of the deposit if the cheque or other negotiable item is deposited in person with an employee at one of RBC’s branches or points of service and is in Canadian dollars, drawn on a Canadian branch of a Canadian financial institution.
The length of hold will be five (5) business days after the day of deposit if the cheque or other negotiable item is deposited in any other manner, such as at an Automated Teller Machine (ATM) or using our Mobile Cheque Deposit service, and is in Canadian dollars, drawn on a Canadian branch of a Canadian financial institution.
The length of hold will also be five (5) business days after the day of deposit if the cheque or other negotiable item is in U.S. dollars and drawn on a Canadian branch of a Canadian financial institution.
Offer available to newcomers who have arrived in Canada within the last 5 years and (i) have opened an RBC personal deposit account or have been approved for an RBC credit card account between April 1, 2019 and December 31, 2019 (“Promotional Period”); (ii) show proof of entry into Canada with supporting documents such as landing papers or permanent resident card; (iii) do not have an RBC personal deposit account at the start of the Promotional Period. Only RBC newcomer clients who do not have an RBC personal deposit account at the start of the Promotional Period and have otherwise complied with the terms of the offer are eligible for this offer. TELUS is not responsible for determining eligibility for this offer. See RBC branch for eligibility details. TELUS $50 Prepaid Top-Up offer valid for activation until December 31, 2019. Once the Prepaid Top-Up offer has been activated, it will be available for use for a period of 60 days from the time of activation, and any unused portion of the top-up will expire after 60 days unless another top-up or 30- day rate plan is purchased within 7 days of expiry date. TELUS, not Royal Bank of Canada, is responsible for the terms and conditions associated with any TELUS offer, product or service. TELUS, the TELUS logo, the future is friendly and telus.com are trademarks of TELUS Corporation, used under license. © 2019 TELUS. All rights reserved.
A $10 credit will be applied to your TELUS account within 30 days after activation and again within 30 days of each date that you renew your plan to a total value of $120. If you do not top up your account each month and renew on a 30-day $35 and up rate plan, you will not receive the subsequent credits. Other conditions may apply. Click hereExternal Site for more information on this special offer or on TELUS Prepaid services or call TELUS at 1-866-558-2273. This offer may be withdrawn at any time and is subject to change without notice. TELUS, not Royal Bank of Canada, is responsible for the terms and conditions associated with any TELUS offer, product or service.
Savings offer on vehicle rental base rate (“Offer”) available until December 31, 2019 and only to newcomers who have arrived in Canada within the last 5 years and (i) have opened an RBC personal deposit account or have been approved for an RBC credit card account between January 1, 2019 and December 31, 2019 (“Promotional Period”); (ii) show proof of entry into Canada with supporting documents such as landing papers or permanent resident card; (iii) do not have an RBC personal deposit account at the start of the Promotional Period; (iv) are 21 years of age or older; and (v) received the offer through the RBC Offers platform in RBC Online Banking (“Eligible Client”). Eligible Clients must enter the unique promo code provided in the RBC Offers platform when making a reservation using the link provided. Offer applicable to eligible vehicle rentals at participating Avis locations across Canada and the contiguous U.S. All taxes, fees and surcharges are extra. A valid credit card must be presented at time of vehicle pick up and a deposit hold will be placed on that credit card. Final payment can be made at vehicle return with any valid debit or credit card accepted by Avis Budget Car Rental Canada ULC, or with cash. Subject to vehicle availability at the time of rental. Holiday and other blackout periods may apply. Offer may not be combined with any other offer and may be withdrawn or amended at any time without notice. Other terms and conditions apply. Avis Budget Car Rental Canada ULC, not Royal Bank of Canada, is solely responsible for the terms and conditions applicable to this Offer and any Avis product or service. See Avis Terms and ConditionsPDF for details.
Savings offer on vehicle rental base rate (“Offer”) available until December 31, 2019 and only to newcomers who have arrived in Canada within the last 5 years and (i) have opened an RBC personal deposit account or have been approved for an RBC credit card account between January 1, 2019 and December 31, 2019 (“Promotional Period”); (ii) show proof of entry into Canada with supporting documents such as landing papers or permanent resident card; (iii) do not have an RBC personal deposit account at the start of the Promotional Period; (iv) are 21 years of age or older; and (v) received the offer through the RBC Offers platform in RBC Online Banking (“Eligible Client”). Eligible Clients must enter the unique promo code provided in the RBC Offers platform when making a reservation using the link provided. Offer applicable to eligible vehicle rentals at participating Budget locations across Canada and the contiguous U.S. All taxes, fees and surcharges are extra. A valid credit card must be presented at time of vehicle pick up and a deposit hold will be placed on that credit card. Final payment can be made at vehicle return with any valid debit or credit card accepted by Avis Budget Car Rental Canada ULC, or with cash. Subject to vehicle availability at the time of rental. Holiday and other blackout periods may apply. Offer may not be combined with any other offer and may be withdrawn or amended at any time without notice. Other terms and conditions apply. Avis Budget Car Rental Canada ULC, not Royal Bank of Canada, is solely responsible for the terms and conditions applicable to this Offer and any Budget product or service. See Budget Terms and ConditionsPDF for details.