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Cash and margin rates: Interest rates applied to account balances*

As of November 22, 2022 our interest rates are as follows:

Credit balances

Amount Canadian dollar accounts US dollar accounts
Under $10,000 0.05% 0.15%
$10,000 - $24,999 0.25% 0.40%
$25,000 - $49,999 0.50% 0.65%
$50,000 - $59,999 0.75% 0.90%
$60,000 - $99,999 1.00% 1.15%
$100,000 and over 1.25% 1.40%

Debit balances

Amount Canadian dollar accounts US dollar accounts
Under $10,000 7.95% 9.25%
$10,000 - $24,999 7.70% 9.00%
$25,000 - $49,999 7.45% 8.75%
$50,000 - $59,999 7.20% 8.50%
$100,000 and over 6.95% 8.25%

Registered accounts

Balance type Canadian dollar accounts US dollar accounts
All credit balances 0.05% 0.15%
All debit balances 7.95% 9.25%

How rates are calculated

Amount Canadian dollar margin rates US dollar margin rates
Under $10,000 $CDN Prime + 2.00% $USD Prime + 2.25%
$10,000 - $24,999 $CDN Prime + 1.75% $USD Prime + 2.00%
$25,000 - $49,999 $CDN Prime + 1.50% $USD Prime + 1.75%
$50,000 - $99,999 $CDN Prime + 1.25% $USD Prime + 1.50%
$100,000 and over $CDN Prime + 1.00% $USD Prime + 1.25%

Based on Royal Bank prime rates as of November 22, 2022. $CDN Prime= 5.95% and $USD Prime= 7.00%. Rates are subject to change.

* RBC Financial Group retains the right to change interest rates on a discretionary basis. A committee comprised of individuals representing various authorities within RBC Dominion Securities administers these interest rates. These rates are adjusted from time to time based on various factors, including, but not limited to, competitive analysis, Bank of Canada and other bellwether rates, and/ or cash rates. Interest amounts less than $5 are neither charged nor paid on regular accounts and interest amounts less than $1 are neither charged nor paid on special product accounts. Rate changes of less than 1% will be processed on the 22nd of the month. The average daily cash balance for the month determines the tier that will be used to establish the rate.

Foreign exchange (FX)

As of October 22, 2022, our spread on foreign currency exchange is as follows:

The foreign currency conversion rate that appears on your trade confirmation and/ or account statement includes the spread that RBC Dominion Securities (“RBCDS”, “we”, “us” or “our”) or its affiliates earn for performing this function. Spread is the difference between the rate we or our affiliates obtain and the rate you receive. Generally, for USD-CAD transactions, the current amount of the foreign currency conversation spread we or our affiliates earn is described below, except that the spread for issuer entitlements that you receive in your account (such as dividends and interest) is 0.60%. For spreads we or our affiliates earn on other foreign currencies, please speak to your Investment Advisor. Spread is subject to change without notice. For clarity, the below is not the foreign currency conversion rate.

Transaction Size (USD) Spread
$0 to $25,000 1.50%
$25,000.01 to $75,000 0.70%
$75,000.01 to $500,000 0.30%
$500,000.01 to $2,000,000 0.15%
$2,000,000.01 plus up to 0.05%

Brief description of foreign currency exchange and spread

A foreign currency exchange will occur in your RBCDS account any time you instruct us to purchase or sell a foreign currency, or when a securities transaction or securities entitlement (e.g. dividend or interest) is in a native currency which is not accommodated by your account.

For example, a foreign currency exchange will occur if your RBCDS account is denominated in Canadian dollars but you were to receive a dividend in British Sterling, or purchase a security priced in Euros. In the former the British Sterling currency would be sold and converted to a Canadian dollar credit, and in the latter the Euro currency would be purchased and your account would be debited Canadian dollars.

RBCDS offers accounts denominated in foreign currencies. However, maintaining accounts denominated in foreign currencies has multiple considerations. Speak to your Investment Advisor if you wish to learn more about this service.

We charge an amount on each foreign currency exchange transaction. The amount charged is commonly referred to as a foreign currency exchange “spread.”

There is no centralized currency market, such as exists for stocks, meaning that RBCDS accumulates on a principal basis a net exposure to each currency as a result of fulfilling the sum of all client foreign currency exchange transactions. The “spread” charged on foreign currency exchange transactions compensates us for both taking on the currency exposure and maintaining the underlying foreign currency exchange technology infrastructure.

For more details, please refer to your Client Account Agreement or speak to your Investment Advisor.

GIC Rates

The latest GIC rates in PDF format.