CIBC vs TD vs RBC 2026 | Big Bank Comparison, Including TD vs RBC

CIBC, TD and RBC are three of Canada’s Big Five banks, and their everyday products line up closely: a flat-fee basic chequing account, an unlimited account, a full credit card lineup, mortgages and a self-directed brokerage. The differences that usually decide between them are narrower: TD’s longer branch hours and its US retail bank, RBC’s Avion travel program and its account fees with no balance waiver, and CIBC’s Costco Mastercard and its no-fee digital brand, Simplii Financial.

This page compares all three on each of those points, then looks at TD and RBC on their own for readers choosing between the two. The other head-to-heads and the bank rankings are listed in the bank comparisons hub.

At a Glance

Chequing Accounts and Fees

All three banks price chequing in tiers: a low-cost account with a monthly transaction limit, an unlimited account, and, at TD and RBC, a premium account with extra perks (TD’s All-Inclusive Banking Plan and RBC VIP Banking). CIBC handles the top end differently: its Smart Account fee is rebated once the client’s average balance reaches its higher tiers, instead of moving the client into a separate premium plan.

The structural difference is how a monthly fee goes away. TD and CIBC waive their unlimited account’s fee when a minimum balance stays in the account. RBC’s fee schedule publishes no balance waiver for Signature No Limit or VIP Banking; it offers a seniors rebate on those accounts and waives the Advantage Banking fee for students, clients 24 and under, and newcomers in their first year. All three include Interac e-Transfer sending at no extra charge on their main chequing accounts.

For students, TD Student Chequing has no monthly fee and unlimited transactions, and RBC’s student offer is Advantage Banking with the fee waived, also with unlimited transactions. CIBC’s student account terms are in the CIBC review.

The dollar figures for every account are kept on each bank’s fee page: TD account fees, RBC account fees and CIBC account fees. The Big Five bank fees compared page sets them side by side, including the balance each waiver needs. Readers who would rather not pay a monthly fee at all can compare no-fee chequing accounts, including CIBC’s own Simplii, which Simplii vs Tangerine vs EQ Bank sets against its two closest rivals.

Savings Accounts

Each bank posts a regular savings rate and a separate high-interest savings rate:

All three also run promotional rates on new deposits from time to time; for an offer, check the bank’s current promotion on its own site. Online banks post their rates on different terms: EQ Bank’s Personal Account, for example, pays 1.00%, or 2.75% with qualifying recurring direct deposits of at least $2,000/month.

Rates at every bank, including the big banks’ promotions, are compared on the best savings accounts in Canada.

GIC Rates

All three issue GICs, both non-registered and inside TFSAs and RRSPs. Current GIC rates at the big banks, online banks and credit unions are compared in the best GIC rates in Canada.

Credit Cards

Each bank’s flagship cards follow its rewards program. TD issues Aeroplan cards, RBC issues cards that earn its own Avion points, and CIBC issues both Aeroplan and Aventura cards plus the Costco Mastercard. A few of the cards most often compared across the three:

CIBC rebates the annual fee on an eligible credit card for Smart Account clients at its top balance tier; the CIBC review has the conditions. Insurance, lounge access and current welcome offers are covered in the credit card reviews, and each bank’s full lineup is in TD’s credit cards, RBC’s credit cards and CIBC’s credit cards.

Mortgages

All three offer fixed and variable mortgages, insured and uninsured, and each sets its own prepayment privileges: how much can be paid as a lump sum, or added to the regular payment, each year without a penalty. Posted rates are a starting point for negotiation at all three. How prepayment privileges work is explained in prepayment privilege rules in Canada, and the big banks’ mortgage terms are compared with monoline lenders and credit unions in mortgage lenders in Canada compared.

Investing

CIBC Investor’s Edge, TD Direct Investing and RBC Direct Investing each charge a flat commission per online stock or ETF trade at their standard tier (see the table above), with lower active-trader pricing above a set number of trades a quarter. Commission-free trading is available elsewhere, including at another Big Five bank’s brokerage: BMO InvestorLine has charged no commission on online stock and ETF trades since September 14, 2026. The online brokers in Canada hub compares the bank brokerages with the independents.

TD adds an Advanced Dashboard and a separate TD Active Trader platform with screening and charting tools for frequent traders. The platforms are covered in the TD Direct Investing review, the RBC Direct Investing review and the CIBC Investor’s Edge review. TD and RBC also sell digital managed portfolios (TD Automated Investing and RBC InvestEase), compared with the independents in robo-advisors in Canada.

TD vs RBC

For everyday banking TD and RBC are close: similar account tiers, national branch networks and full product ranges. Four things separate them.

Branch hours

Branch hours are the clearest practical difference. TD’s published hours: Mon-Fri 9:00 AM - 8:00 PM at many locations; Saturday hours at many branches. That lets someone who works weekday office hours get to a branch for a mortgage meeting, a certified cheque or a bank draft without taking time off. RBC sets hours branch by branch, as does CIBC; their branch locators list each branch’s weekday and weekend hours, and checking the nearest branches is the practical test.

Chequing fees

TD’s Every Day, Unlimited and All-Inclusive accounts each have a minimum balance that waives the monthly fee. RBC’s Advantage, Signature No Limit and VIP Banking accounts have no published balance waiver, so an RBC client either pays the fee or qualifies for one of the rebates described above. For someone who keeps a steady balance in chequing, that difference can outweigh any gap in the posted fees; the TD and RBC fee pages list the numbers.

US banking

TD owns TD Bank in the US, a full-service US retail bank with branches along the US east coast. For Canadians with US income, US property or long stays in the eastern US, that gives a US-dollar account, US direct deposit, bill payments and ATM access through a US retail bank under the same brand. RBC’s US offer is aimed at Canadians who spend time in the US, such as snowbirds: US-dollar banking and a US card built for cross-border use rather than a large US branch network. Either can cut foreign exchange costs on regular US spending; TD’s is the fuller US bank.

Cards and investing

The card choice follows the rewards program: TD for Aeroplan (Air Canada), RBC for Avion points, which can be redeemed across airlines. On investing, TD Direct Investing charges $9.99 and RBC Direct Investing $9.95 per standard online trade, so the platform and research tools are the bigger difference between these two.

On network size, TD runs 1,000+ branches and 2,500+ ATMs; RBC’s current branch and ATM counts are in the RBC review.

Big Five Bank or Online Bank

Many Canadians keep a Big Five account for branch access, mortgages and credit cards and hold savings, or no-fee everyday chequing, at an online bank. The trade-offs between the three types of banks (Big Five, online and credit union) are set out in how to choose a bank in Canada, and the online side is ranked in the online banks ranking.

Which Bank Fits

The choice between CIBC, TD and RBC usually comes down to which branches are close, whether evening and weekend hours matter, and the one or two products already wanted, such as an Aeroplan card, the Costco Mastercard or a US account; the ranking of Canadian banks puts the three in the wider field.

Related Pages

• CIBC review, TD review and RBC review, with every other bank in the bank reviews
• Simplii vs Tangerine vs EQ Bank
• Wealthsimple vs EQ Bank
• Mobile banking apps compared
• Credit unions in Canada
• CDIC deposit insurance