The RBC High Interest eSavings account is a HISA from one of Canada’s most trusted banks, offering a standard interest rate of 0.65% with no minimum deposit required, as well as a promotional rate for the first three months. Backed by RBC’s long-standing reputation, it’s a reliable and flexible option for building your savings while keeping funds easily accessible for the future.
There are fees for most types of withdrawals, and while other providers may offer higher rates, the security and dependability of banking with RBC make this account a solid choice for those who value stability alongside convenience.
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RBC High Interest eSavings account features
Here's an overview of all the features and services the RBC High Interest eSavings account has to offer:Verified on August 29, 2025
Why You Want It
Earn 0.65% on every dollar + Transfer money between RBC accounts for free.
Special Features
- Automatic money transfers
- MyAdvisor service
Eligibility
- Age of majority in your province or territory
- Opening a sole account in your own name
- Living in Canada
Provinces
ALL
Interest Rates
Any balance
0.65%
Features
# Of Free Transactions
1
# Of Free Interac E-Transfers
0
Max Promotion Rate
4.7%
Welcome Bonus Value
N/A
Promo End Date
October 29, 2025
RBC High Interest eSavings account rating: 3.7 stars
We’ve given this account a 3.7 rating for a few reasons. Its interest rate holds its own against other big banks, and the promotional interest is even better, but comparisons with online bank accounts make this regular rate look quite dismal.
With only 1 free RBC ATM withdrawal per month and various fees for further withdrawals and transactions, this account certainly encourages you to leave your money alone. It is a top-notch choice for those who enjoy a set-it-and-forget-it approach, but less if you're seeking optimal interest for growth.
Learn more about our rating methodology.
The pros of an RBC High Interest eSavings account
The RBC High Interest eSavings account has a few features worth noting, especially if you're already an RBC client:
Pros
Impressive interest for a big bank
The regular interest rate on the RBC High Interest eSavings account is a flat 0.65%. This means you don't have to worry about keeping thousands of dollars in your account just to get a slightly higher rate. Instead, you'll earn this rate on every dollar you deposit.
High promo interest for 3 months
To take your interest to the next level, the first 3 months with your new RBC High Interest eSavings account will give you an astonishing 4.7% promo rate for the first 3 months. It would certainly be nice if this was a permanent rate, but it does provide an opportunity for significant growth within a short timeframe.
Access to RBC automatic money transfers
RBC's automatic money transfer service provides a way to set up automatic money transfers from one RBC account to another. You decide how much you want to transfer, schedule the transaction to occur whenever necessary, and it's done. The action takes place automatically, on schedule.
Free transfers to other RBC bank accounts
Not only are automatic transfers a handy feature, but you won't have to pay for them either. If you have another RBC bank account, you can transfer money from the RBC High Interest eSavings account to those other RBC accounts for free.
1 free RBC ATM cash withdrawal per month
Should you need to withdraw cash from your RBC High Interest eSavings account, you get 1 free withdrawal per month. This is very helpful if you ever find yourself in a pinch and need some cash fast.
No monthly fee
The RBC High Interest eSavings account doesn't charge any monthly fees. Yes, this is typical of savings accounts across all banks, but it's still worth noting. Any opportunity to save money is a good opportunity, in our opinion.
The cons of an RBC High Interest eSavings account
Unfortunately, there are some drawbacks to the RBC High Interest eSavings account:
Cons
No free Interac or Plus ATM withdrawals
If you need to get money from your RBC High Interest eSavings account and there isn’t an RBC ATM nearby, you’re going to get dinged $2 any time you use an Interac-compatible machine, and $3 when you use a Plus ATM. These costs aren’t exorbitant, but even small fees can add up quickly.
No free Interac e-Transfers
If you need to use an Interac e-Transfer to move money out of this account, it will cost you $1 to do so. This isn’t uncommon for high interest accounts or even unreasonably expensive, but it is inconvenient.
RBC High Interest eSavings account alternatives
There are other high interest savings accounts you can use to stash your cash, take a look at how the RBC High Interest eSavings account measures up: |  | |  | |
|---|---|---|---|---|
| Account | RBC High Interest eSavings account | Scotiabank Money Master Savings Account | Scotiabank MomentumPLUS Savings Account | Alterna Bank RRSP eSavings Account |
| Genius Rating | ||||
| Why You Want It | Earn 0.65% on every dollar + Transfer money between RBC accounts for free. |  $50 GeniusCash + Automatically save with every debit purchase through Bank The Rest. | Get up to 4.75%* interest on your money + No monthly fees. | $0 min balance and no monthly fees + Competitive interest rates. |
| Interest Rates |
|
|
|
|
| # Of Free Transactions | 1 | 0 | 0 | 0 |
| # Of Free Interac E-Transfers | 0 | 0 | 0 | 0 |
| Max Promotion Rate | 4.7% | N/A | 4.75% | N/A |
| Welcome Bonus Value | N/A | N/A | N/A | N/A |
| Promo End Date | October 29, 2025 | N/A | See Issuer for Details | N/A |
| Open an account See more RBC products Compare | I Want This Deal See more Scotiabank products Compare | Open an account See more Scotiabank products Compare | Learn More See more Alterna products Compare |
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FAQ
Does RBC have a high interest savings account?
Yes, the RBC High Interest eSavings account is a high interest savings account from the Royal Bank of Canada. It has a few top-notch features, including no monthly fees, no minimum balance required, and free transfers between RBC accounts.
What’s the interest rate for the RBC High Interest eSavings account?
The RBC High Interest eSavings account comes with a flat interest rate of 0.65%, which is quite high for a big bank. New account holders can also enjoy 4.7% promotional interest for three months.
Is there any monthly fee for the RBC High Interest eSavings account?
No, there's no monthly fee for the RBC High Interest eSavings account. But given that your only free transfers are to other RBC accounts, you’ll want to research the monthly fees on those before making a final decision on where to stash your savings.
Are there any free e-Transfers included with the RBC High Interest eSavings account?
There are no free Interac e-Transfers included with this account – you'll pay $1 each one you send. However, it offers free transfer to other RBC accounts, so you could bypass this fee by transferring to an account with free e-Transfers.
Can I withdraw funds from my RBC High Interest eSavings account at ATMs around the world?
Yes, you have access to ATMs worldwide but it will cost you $3 to use PLUS ATMs outside of Canada and the U.S.A. You do, however, get one free withdrawal per month from an RBC-branded ATM.
Does the RBC High Interest eSavings account get you access to RBC’s MyAdvisor service?
Yes, your RBC High Interest eSavings account gets your access to RBC’s MyAdvisor service. This service is a free digital advice platform offering you tips on how to save your money and how to reach your financial goals.
Does the RBC High Interest eSavings account provide free statements?
The RBC High Interest eSavings account comes with free eStatements, available to view online at any time. However, it doesn't provide free paper statements, which is unfortunate for those who prefer to keep paper records and files at home.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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