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.
| Registered accounts | Non-registered accounts | |||||||
| Advantages | TFSA | FHSA | 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 | Learn more about RRSPs |
Learn more |
Learn more | ||||
* RRSP only
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.
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:
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.
With NBDB, you can also have an account for specific circumstances and conditions.
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
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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