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Types of accounts

Find the right account for you

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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

RESP Cash Margin Short selling
Taxable capital gains and dividends                
Tax free                
Unlimited deposits                
Contributions to your spouse's account                
Tax deductions                
Taxable withdrawals                
Tax-free withdrawals                
Possibility of trading most products                
Borrowing on margin                
Available in US currency       *        
For more information   Learn more Learn more about RRSPs
  Learn more
  Learn more  

* RRSP only

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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.

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
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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 account 1
  • In trust account 2

1 Open the account at a National Bank branch

2 Call one of our agent to open the account


  • LIRA
  • LRSP
  • LIF

The fine print

Definitions of accounts for legal entities

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.

Definitions of the other types of account

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. 

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