Savings accounts

Enjoy peace of mind with U.S. funds set aside

There are so many good reasons to start a savings account in the U.S. - saving for a down payment on a U.S. home or setting aside U.S. dollars for an extended trip down south. Whatever your goal, an RBC Bank savings account is a smart way to keep your funds in U.S. dollars.

Personal savings¹

Set money aside for all the right reasons.

  • $100 minimum deposit to open
  • $300 minimum balance to avoid maintenance fee
  • Automatically exchange and instantly transfer money for free² between your RBC Bank (U.S.) and RBC Royal Bank™ (Canadian) accounts
  • Easy access to funds via Online Banking or Automated Telephone Banking
  • Funds are FDIC insured up to $250,000 per ownership category³
  • An RBC Bank checking account is required to open a Personal savings account

Preferred Money Market savings4

With this savings account, you’ll earn our best interest rates with easy access to your savings.

  • $1,000 minimum deposit to open
  • No monthly fee when you keep $1,000 minimum balance
  • Automatically exchange and instantly transfer money for free² between your RBC Bank (U.S.) and RBC Royal Bank™ (Canadian) accounts
  • Easy access to fundsvia Online Banking or Automated Telephone Banking
  • Use checks on this account for your U.S. purchases
  • FDIC insured funds up to $250,000 per ownership category³
  • An RBC Bank checking account is required to open a Preferred Money Market savings account

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Certificates of deposit (CDs) (similar to Canadian GICs)6

Relax with the security of no-risk CDs.

  • Competitive, fixed interest rates for the term of the CD
  • Guaranteed rate of return
  • Terms from six months to five years
  • Funds are FDIC insured up to $250,000 per ownership category3

1 Federal regulations allow only six preauthorized transfers out of the account per month. Each preauthorized transfer in excess of six will incur a $5 fee regardless of account balance. Continued excessive preauthorized transfers will result in account closure.
2 Maximum transaction limits apply and are subject to change. Standard account charges may apply. Availability of the money will depend on the time it is sent from RBC Royal BankTM or RBC Bank. Transaction may not appear on your RBC Bank (U.S.) account transaction history until the following day but will reflect the date of the transfer.
3 Subject to the maximum extent permitted by law. Amount of coverage is based on the account balance and account ownership. For details visit www.fdic.gov. 
4Federal law requires that no more than six preauthorized or automatic transfers (including online and telephone transfers) to other accounts you have with us or to third parties may be made from the Money Market Account during any statement cycle. Excessive preauthorized transfers may result in fees being charged and/or a conversion of your account to a different account type.
5 Federal law requires that no more than six preauthorized or automatic transfers (including online and telephone transfers) to other accounts you have with us or to third parties may be made from the Money Market Account during any statement cycle. Excessive preauthorized transfers may result in fees being charged and/or a conversion of your account to a different account type.
6 A penalty may be imposed for early withdrawal. Fees could reduce earnings.