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 US currency     *        
For more information   Learn more about RRSPs
  Learn more
  Learn more  

* RRSP only

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
  • 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

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.

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.

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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