Canadian bank product guide
RBC's non-chequing product shelf can include registered investing, non-registered investing, GICs, mutual funds, managed portfolios, direct investing, home insurance, travel insurance, life insurance, and creditor protection.
Quick answer
RBC investing and insurance products may be convenient for Canadians who want banking, advice, registered accounts, mortgage planning, and insurance in one ecosystem. The trade-off is that fees, advice model, fund choice, and insurance exclusions should be compared carefully.
Planning note: fees, rates, offers, eligibility, account features, and card benefits can change. This page was reviewed on 2026-07-14. Verify current terms on official RBC pages before applying. CanadianBankNews is not affiliated with RBC Royal Bank.
Products and fees
| Product | Fee or cost note | Advantages | Watch-outs | Official source |
|---|---|---|---|---|
RBC RRSP Registered investing | Fees depend on the investment channel, product, and account type. | RRSPs can defer tax on investment income until withdrawal and may support retirement planning. | Withdrawals are taxable and contribution-room rules matter. | Verify -> |
RBC TFSA Registered investing | Fees depend on product and platform. | TFSA investment income is not taxed, which can fit emergency savings, medium-term goals, or long-term investing. | Contribution limits and over-contribution penalties matter. | Verify -> |
RBC FHSA First home savings | Fees depend on product and platform. | Can help eligible first-time home buyers save with tax-deductible contributions and tax-free qualifying withdrawals. | Eligibility, contribution limits, and home-purchase timing are important. | Verify -> |
RBC GICs and savings investments Low-risk investing | Rates and terms vary by GIC type and term. | Can fit short-term or lower-risk savings where principal certainty matters more than market upside. | Locked terms can reduce flexibility, and rates change. | Verify -> |
RBC Insurance Insurance and protection | Premiums vary by insurance type, coverage amount, underwriting, and province. | Can include travel, home, auto, life, health, creditor, and business insurance categories depending on eligibility. | Read exclusions, claim rules, cancellation terms, and whether card insurance already overlaps. | Verify -> |
FHSA, RRSP Home Buyers' Plan planning, TFSA savings, emergency funds, and GIC ladders can all affect mortgage readiness. Use the AI Mortgage Advisor to understand how down payment, debt, income, and savings choices interact.
Compare RBC against self-directed platforms, robo-advisors, independent financial planners, credit unions, and insurers. Focus on total fees, advice obligations, product range, tax fit, and whether the recommendation serves your actual goal.
RBC ranks as the strongest overall program in our Canadian bank loyalty ranking because Avion Rewards combines major-bank breadth, flexible travel redemption, partner offers, and everyday card/account integration. Cashback-first readers should still compare RBC against TD, BMO, CIBC, Scotiabank, Tangerine, and Simplii before choosing.
Mortgage planning
If your RBC product decision is connected to a home purchase, renewal, refinance, or debt consolidation plan, test the numbers first. CanadianBankNews can help you compare affordability, fixed versus variable assumptions, payment changes, and debt-service comfort before speaking with a lender.
RBC lists FHSA information as part of its registered investing content. Eligibility, contribution limits, and available investment products should be verified directly with RBC.
RBC Insurance may be convenient, but you should compare premiums, coverage exclusions, claim process, and whether existing credit-card or workplace coverage overlaps.