RBC New Account Promotions in 2021 (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, 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 iPad Offer

You can qualify for a 10.2″ iPad when you open an RBC Signature No Limit Banking or RBC VIP Banking account by December 20, 2021, and complete two of three tasks by February 28, 2022:

  • 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 iPad.

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 64 GB 9th-Generation iPad 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, 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 $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 1.25% interest for 3 months. To be eligible, you must open an account by November 30, 2021.

The regular interest rate offered by this account is 0.05%.

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

Get a $200 bonus when you open a Simplii no-fee chequing account.

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.

You also get an extra $50 when you sign up using our referral link, for a total bonus of up to $250 (available until March 31, 2022).

Simplii also has a high-interest savings account.

Get more details about this offer here.

EQ Bank Offer

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

  • 1.25% interest on every dollar
  • Unlimited free debits and Interac e-Transfers
  • Free mobile cheque deposits

Get the EQ Bank Savings offer.

Innovation Credit Union

Residents of Saskatchewan can open a free Innovation Credit Union chequing account and get a $310 bonus.

To be eligible for this offer, you must:

  • Live in Saskatchewan
  • Set up a recurring direct deposit of $100 or more (at least 2 deposits within 90 days)
  • Use the promo code SAVVY310 during sign up

Get more details in our Innovation Credit Union review.

The offer is available until December 31, 2021

Scotiabank New Account Offer

Scotiabank is offering up to $350 when you open an eligible chequing account:

To be eligible for this offer, you must open an account by December 16, 2021, 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.

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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. His writing has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, Credit Canada, MSN Money, 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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