Types of accounts

Find the right account for you

Open an account
Photo of an investor looking on his phone at the different types of brokerage accounts offered by NBDB
Photo of an investor looking on his phone at the different types of brokerage accounts offered by NBDB

A brokerage account to manage your investment

Choosing an account is the first step to becoming a self-directed investor.

 

The brokerage account is different from the bank account. It allows do-it-yourself investors to invest in the markets.

Here's what you can do:

  • Choose products that match your financial goals
  • Implement your tax and investment strategies

An account for all your goals

  Registered accounts Non-registered accounts
Advantages TFSA FHSA RRSP/RRIF Spousal
RRSP/RRIF		 RESP Cash Margin Short selling
Taxable capital gainsand dividends - - - - - ✓ ✓ ✓
Tax free ✓ ✓ ✓ ✓ ✓ - - -
Unlimited deposits - - - - - ✓ ✓ -
Contributions to your spouse's account - - - ✓ - - - -
Grants - - - - ✓ - - -
Tax deductions - ✓ ✓ ✓ - - - -
Taxable withdrawals - ✓ ✓ ✓ ✓ - - -
Tax-free withdrawals ✓ ✓ - - - ✓ ✓ -
Possibility of trading most products ✓ ✓ ✓ ✓ ✓ ✓ ✓ -
Borrowing on margin - - - - - - ✓ ✓
Available in USD ✓ - ✓ ✓* - ✓ ✓ ✓
For more information   Learn more Learn more about RRSPs   Learn more   Learn more  

* RRSP only

FHSA

The First Home Savings Account (FHSA) is an ideal choice for first-time homebuyers. If you're looking to open a savings account but aren’t sure which type is right for you, compare the benefits and differences between the RRSP, the TFSA, and the FHSA.

Learn more

Accounts for legal entities

Does your company or your corporation have surplus cash? Why not use it to make a profit with a cleverly chosen investment? NBDB offers a selection of accounts for legal entities and guides you through the process of opening your account. To open one of those accounts, call one of our agents:

 

  • Company account

  • Sole proprietorship account

Tips from our experts

A margin account offers many advantages, such as a very competitive rate when borrowing against the securities held in your account or against a portion of a future purchase.

Other types of account

With NBDB, you can also have an account for specific circumstances and conditions.

 

  • Estate account1
  • In trust account2
  • LIRA
  • LRSP
  • LIF
     

1. Open the account at a National Bank branch

2. Call one of our agent to open the account

Fully-paid securities lending program

Lend your fully-paid securities and earn extra income effortlessly

Enroll in the program

We're here for you

Message our virtual assistant

The answers to your questions, all in one step, 24/7.

Ask us anything

Our help centre

All of our frequently asked questions in one place.

Visit our help centre

The little details that matter

Company account

 

A corporate body separate from its shareholders and managed by a board of directors and officers.

 

Sole proprietorship account

 

A business with a sole proprietor who personally owns all the assets, manages the business, collects all the income and assumes all the financial and administrative responsibilities.

Estate account

 

An estate bequeathed by a deceased person and administered by an executor.

 

In trust account

 

An alternative option for clients (usually parents) who would like to open a brokerage account for a minor. This type of account is not available to Quebec residents.

 

Locked-in retirement account (LIRA - Provincial) and locked-in registered retirement savings plan (LRSP - Federal)

 

LIRAs and LRSPs are retirement savings instruments into which you can transfer the value of your locked-in rights accumulated in a retirement savings plan. These types of accounts are available in Canadian and U.S. dollars and your investments grow tax free.

 

Life Income Fund (LIF)

 

A LIF is a registered account into which you can transfer money from your supplemental pension plan or locked-in retirement account (LIRA). It has the same features and advantages as an RRIF, but with a maximum withdrawal limit. This type of account is available in Canadian dollars.