RBC New Account Promotions in Jul 2022 (Free iPad Offer)

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by Enoch Omololu


Advertiser Disclosure

If you are looking to open a new chequing account, RBC’s new account offers may be of interest.

The current RBC promotion includes a 10.2″ iPad when you open an eligible bank account. In the past, they have also offered cash bonuses, AirPods Pro, and more.

RBC is not the only one enticing new customers. There are several other new bank account promotions in Canada you can take advantage of.

RBC Free iPad Offer

You can qualify for a new iPad when you open an RBC Signature No Limit Banking or RBC VIP Banking account by September 30, 2022, and complete two of three tasks by January 6, 2023:

  • Add your payroll as a direct deposit
  • Set up two pre-authorized payments
  • Add two bill payments to a service provider

When you have met the conditions, RBC sends you an email with instructions on how to order your AirPods Pro as well as 6 months of Apple Music free.

Note that this offer is not available to existing RBC clients or those who have opened an account within the past five years.

The value of the 10.2” iPad Wi-Fi 64GB (9th Generation) is $429.

Below is a summary of the RBC promotion:

RBC AccountOffer
RBC Signature No Limit BankingiPad
RBC VIP BankingiPad

RBC Signature No Limit Banking Review

The RBC Signature No Limit Banking account is one of two premium chequing accounts offered by the bank.

For a $15.95 monthly fee ($16.95 effective August 1, 2022), you get:

  • Unlimited debit transactions (in Canada)
  • Free Interac e-Transfer Transactions
  • 3 free non-RBC ATM transactions/month ($2 each after)
  • 5 free cross-border debits/month ($1 each after)
  • 6 free drafts per year ($8.50 each after)

Customers who have multiple RBC accounts (investments, mortgage, credit card, etc.) may receive a partial rebate on the monthly fee.

RBC VIP Banking Review

This chequing account has a $30 monthly price tag and includes unlimited debit transactions worldwide, free Interac e-Transfers, and:

  • Up to $120 annual fee rebate for an eligible credit card
  • Up to a $60 rebate on a safe deposit box
  • 12 free drafts/year ($8.50 each after)
  • Free personalized cheques
  • Overdraft protection fee waived (interest applies)

Partial fee rebates are available if you hold multiple RBC products

RBC AccountRBC Signature No LimitRBC VIP Banking
Monthly fee$15.95$30
Minimum balance to waive monthly feeN/AN/A
Number of free debitsUnlimited (Canada)Unlimited (worldwide)
Free Interac e-Transfers/month999999
Credit card fee rebate$39/year$120/year
Other perks3 free non-RBC ATM transactions/month; 5 free cross-border debits; save $12/year on safe deposit box, 6 free drafts; free paper statementsCan add up to 3 accounts and waive fees; save $60 on safe deposit box, 12 free drafts, free cheques, free paper statements, and cross-border debits

RBC Savings Account Promotion

While RBC’s standard savings account interest rates are not very competitive, you could take a look at its promotional savings offers.

New RBC High Interest eSavings accounts earn a 2.50% interest for 3 months. To be eligible, you must open an account by August 31, 2022.

The regular interest rate offered by this account is 0.30%.

New Bank Account Promotions in Canada

If you are opening a new bank account (chequing or savings), these offers are worth checking out.

Simplii Financial Offer ($350 Bonus)

Get a $350 bonus when you open a Simplii no-fee chequing account (offer available until July 31, 2022).

To qualify for the cash reward, you must add a direct deposit of at least $100 for 3 consecutive months.

The direct deposit payment can be your paycheck, government benefit, or pension.

Simplii also has a high-interest savings account offering a 3.00% interest rate.

Get more details about this offer by reading our full review.

EQ Bank Offer ($150 Bonus)

EQ Bank offers one of the best non-promotional savings interest rates in Canada. Its no-monthly-fee Savings Plus Account offers:

  • 1.65% interest on every dollar
  • Unlimited free debits and Interac e-Transfers
  • Free mobile cheque deposits
  • No monthly fees
  • $150 cash bonus for a limited time

Get the EQ Bank Savings offer.

Scotiabank New Account Offer

Scotiabank is offering up to $300 when you open an eligible chequing account:

To be eligible for this offer, you must open an account by September 30, 2022, and complete two of three tasks within 60 days;

  • Make a $50 bill payment through online or mobile banking
  • Set up 2 eligible recurring pre-authorized transactions of $50 or more for at least 3 consecutive months
  • Set up at least one direct deposit payment that occurs for at least 3 consecutive months (e.g payroll or pension payments)

Related: CIBC Bank Account Promotions.

Best Promotions this month

Get the best FREE chequing account offer in Canada with *$350 cash bonus*

$350 cash bonus when you add a $100 direct deposit for 3 months.

Unlimited free debits and Interac e-Transfer transactions.

No monthly account or transaction fees.

Earn a 3.00% high-interest rate on your savings.

No monthly or minimum balance is required.

Get a $20 welcome bonus with the KOHO app and up to 10% cash back

Free reloadable prepaid card (use CASHBACK referral code).

Earn 0.50% cash back on all purchases and up to 10% at select partners.

Save automatically and earn 1.20% interest on your balance.

Get 3-day early access to $100 of your paycheque for free.

Increase your credit score fast with Credit Building.

Earn a high interest rate on your savings account ($150 offer)

1.65% interest rate on your savings account & $150 bonus for a limited time.

Up to 150x more earnings than other banks.

No monthly account fees; fast and easy online sign-up.

Free and unlimited bill payments and Interac e-Transfers.

Get a cash bonus and FREE stock and ETF trades

Top commission-free stock and ETF trading platform in Canada.

$25 cash bonus when you fund and trade $150 worth of stocks.

$0 trading commissions on thousands of products.

Earn free stocks when you refer your friends.

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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  • Earn 3.00% interest rate* on every dollar.
  • One of the best savings rates in Canada.
  • Access to a free chequing account with $350 bonus.
*Terms and conditions apply. Limited time offer.
Earn one of the highest savings rates in Canada! Get a 3.00% interest rate.*
*Terms and conditions apply. Limited time offer.