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Types of accounts

Find the right account for you

Open an account

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 RRSP/RRIF Spousal
RRSP/RRIF

RESP Cash Margin Short selling
Taxable capital gains and 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 american currency              
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Accounts for legal entities

Does your company, corporation or association 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
  • Partnership account
  • Association account
  • Trust 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
  • Investment club account 2

1 Open the account at a National Bank branch

2 Call one of our agent to open the account

 

  • Individual Pension Plan (IPP) 2
  • 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.

Partnership account

A legal entity created by an agreement between two or more people (natural or legal): a limited partnership (L.P.), a general partnership (G.P.) or a limited liability partnership (L.L.P).

Association account

A group of people who agree to pursue a common goal other than profit making (e.g. a hockey association).

Trust account

An entity administered by a trustee to which assets have been transferred to achieve a specific purpose.

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.

Investment club account

A group of individuals who agree to pool their expertise and funds to jointly manage their investments.

Individual Pension Plan

Business owners, entrepreneurs and executives who have the income needed to take advantage of tax deferral provisions but who do not have access to a group registered pension plan.

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.

Ready to open an account?

Complete the online form.
 

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