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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Yes⎯withdrawals are added to taxable income the year the money is withdrawn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 150 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.
-
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.
-
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:
For 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
International Money Transfer transactions that are under $1,000 will be $6 per transaction. Transactions between $1,000.01 to $2,500 will be $10 per transaction. Excess debit transaction fee may also apply depending on the account. Additional service fees by any intermediary and receiving bank may apply. Maximum of $2,500 Canadian dollars or Canadian dollar equivalent per client per day. Transfers can only be made from Canadian dollar bank accounts. The service is not available to recipients in Canada and in restricted countries. You cannot send an International Money Transfer from a U.S. dollar account or the RBC High Interest eSavings account.
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.
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Offer available to Eligible Personal Clients without a Personal Banking Account with Royal Bank at the beginning of the Promotional Period or in the five year period before the start of the Promotional Period, who open their first new Eligible Personal Banking account by February 1, 2021 and who comply with all other terms and conditions. Bonus Amount is $60 with an RBC Day to Day Banking account (monthly fee of $4.00) or $100 with an RBC No Limit Banking account (monthly fee of $10.95) (each, an “Offer”). You must also complete at least two of the following Qualifying Criteria by March 15, 2021: (i) set up at least two pre-authorized payments from the Eligible Personal Banking Account; (ii) set up at least one automated and recurring payroll or pension direct deposit to the Eligible Personal Banking Account; and/or (iii) set up at least two bill payments to a service provider from the Eligible Personal Banking Account. Offer will be deposited into your Eligible Personal Banking Account between 2 and 10 weeks of completing all Qualifying Criteria. Offer may not be combined with any other Personal Banking Account offers. Royal Bank of Canada may withdraw or amend this Offer at any time without notice. For full details including defined terms visit www.rbc.com/cashofferAnother RBC site
This offer is available to any Eligible Student Clients which for purposes of this offer includes international students (refer to ^) without a Personal Banking Account with Royal Bank of Canada at the beginning of the Promotional Period or in the three year period before the start of the Promotional Period, and who otherwise comply with the opens another RBC site in a new windowTerms of the offer. The Bonus Offer is $60 with an RBC No Limit Banking for Students account (monthly fee of $10.95) or $60 with an RBC student banking account. You must open your first new Eligible Personal Banking Account by 9:00 PM EST on January 29, 2021 and complete two of the following Qualifying Criteria by 9:00 PM EST on March 31, 2021 using your Eligible Personal Banking Account: mobile cheque deposit, Interac e-Transfer; or any purchase -including those done with RBC Virtual Visa Debit, Interac Flash, Apple Pay, Google Pay, Samsung Pay or with the RBC Wallet. Qualifying Criteria can be made within RBC Online Banking, RBC Mobile Banking or with your RBC Client Card. Transactions made in branch or through the ATM network, as well as bank fee transactions, are not included as a qualifying transaction. The Bonus Offer will be deposited into your Eligible Personal Banking Account within 2 to 8 weeks of completing the Qualifying Criteria, if applicable. Royal Bank may follow up with Eligible Student Clients to remind them to complete the Qualifying Criteria. This offer may not be combined or used in conjunction with any other Personal Banking Account offers. Royal Bank of Canada reserves the right to withdraw this offer at any time without notice, even after acceptance by you. For full details including defined terms visit rbc.com/isofferterms60opens another RBC site in a new window.
Offer available only to international students (refer to ^). Monthly fee will be waived for the first twelve (12) months upon opening a new RBC No Limit Banking for Students Account. Monthly fee is $10.95. Other account transaction fees may apply. Account must be opened before the end of the Promotional Period (by 9:00 PM EST on January 29, 2021). Monthly fee waiver for the first twelve months may be replaced with any in-market offer that applies to the RBC No Limit Banking for Students Account.
Guaranteed investment certificates are issued by Royal Bank of Canada, The Royal Trust Company, Royal Trust Corporation of Canada and Royal Bank Mortgage Corporation. Royal Bank of Canada, The Royal Trust Company, Royal Trust Corporation of Canada and Royal Bank Mortgage Corporation are members of Canada Deposit Insurance Corporation (CDlC). Deposits (such as deposits in a savings account, or GICs and other term deposits) with any of these institutions are eligible for CDIC deposit insurance coverage provided they are payable in Canada. For more information, including conditions of coverage, contact CDIC directly at info@cdic.ca or 1 (800) 461‑2342.
Quebec only: If a guaranteed investment certificate is with Royal Bank Mortgage Corporation or The Royal Trust Company, it is a deposit within the meaning of the Deposit Institutions and Deposit Protection Act (Quebec).
COVID-19: Important Branch Information
For the health and safety of our employees and communities, RBC has temporarily closed a number of branches, reduced hours, and is limiting the number of clients permitted at any given time to practice physical distancing. Open branches also have Plexi Protection Screens installed.
If an in-person visit is required, please find a branch and book an appointment.
We encourage clients to bank at home if possible.