Program Interest Rate as of December 19, 2024: 4.00% APY1RBC Premium Savings (the “Program”) is a non-sweep deposit product which places cash held in client brokerage accounts into deposit accounts at multiple FDIC-insured banks (“Destination Institution” or, collectively, “Destination Institutions”). In the Program, deposits are sent to demand deposit accounts. Deposits that are placed through this Program at FDIC-insured Destination Institutions are eligible for FDIC deposit insurance coverage in amounts up to the appliable FDIC insurance limit at each Destination Institution. The FDIC standard maximum deposit insurance amount (“SMDIA”) at each Destination Institution is $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. Your funds will not be placed at any one Destination Institution in an amount that exceeds the SMDIA, regardless of the insurable capacity of your RBC Wealth Management securities account. See www.fdic.gov for additional information. Deposits are a direct obligation of the Destination Institution and are not an obligation of RBC Wealth Management. You may exclude Destination Institutions from eligibility to receive funds. For a list of the Program Banks, please see www.intrafi.com/network-banks. RBC Premium Savings availability is subject to certain restrictions, and deposit placements through this Program are subject to the terms, conditions, and disclosures in applicable agreements.
RBC Wealth Management is not an FDIC-insured depository institution. FDIC insurance available with this Program is subject to certain conditions and FDIC insurance only protects against failure of the bank. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at the FDIC-insured Destination Institutions are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the SMDIA at any one Program Bank, your balances at RBC Wealth Management may exceed the SMDIA before settlement for deposits or after settlement for withdrawals and will not be FDIC-insured. You must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through this Program satisfies any restrictions on your deposits. Rates and deposit limits may change and some conditions apply.
View the current Program Terms and Conditions, Deposit Placement Agreement, and Program Banks for more information.
1 The Annual Percentage Yield (“APY”) as advertised is quoted as of 12/19/24. APY is subject to change at any time without notice, including during the availability period.
Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested.
RBC Wealth Management, a division of RBC Capital Markets, LLC, registered investment adviser and Member NYSE/FINRA/SIPC.