Savings account · Royal Bank of Canada
RBC Enhanced Savings: fees and true cost
Royal Bank of Canada’s RBC Enhanced Savings lists 0.001%–0.01% (tiered) interest and no monthly fee. On $10,000 that’s about $1 a year before tax, at the posted rate.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
Interest at different balances
| Balance | Rate | Interest a year |
|---|---|---|
| $1,000 | 0% | $0 |
| $10,000 | 0.005% | $1 |
| $50,000 | 0.01% | $5 |
| Balance | Rate (annual) |
|---|---|
| $5,000 to $10,000 | 0.001% |
| $10,000 to $25,000 | 0.005% |
| $25,000 and up | 0.01% |
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | 1 a month |
| Debit purchase in Canada (beyond included) | $2.00 |
| Online or mobile bill payment | $2.00 |
| Interac e-Transfer | $3.00 |
| Online transfer between your accounts | $2.00 |
| Own-bank ATM withdrawal | $2.00 |
| Withdrawal at another institution’s ATM | $4.00 |
| ATM withdrawal in the United States | $4.00 |
| ATM withdrawal in other countries | $6.00 |
| Debit purchase in the United States | $3.00 |
| In-branch withdrawal | $2.00 |
| Bill payment in branch | $2.00 |
| Cheque (as a payment) | $2.00 |
| Mailed monthly statement | $3.00 |
| Non-sufficient funds (NSF) | Not stated |
| Overdraft protection, monthly | Not stated |
| Overdraft protection, per use | Not stated |
| Overdraft interest | Not stated |
Notes from the institution
The RBC Enhanced Savings account helps you increase the interest you earn when you have balances greater than $5,000. -Overdraft Protection Per occurrence fee of $5.00 is subject to certain exceptions. - Quebec residents, will not be charged the $5.00 Overdraft Handling Fee for overdrawing your Overdraft Protection Limit.
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Other savings accounts at Royal Bank of Canada
- RBC Day to Day Savings — 0.005%–0.01% (tiered) interest
- RBC High Interest eSavings — 0.55% interest
- RBC Investment Savings Account — 1.8% interest
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Royal Bank of Canada’s product page
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