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Flexibility to Meet Any Goal
Invest for your short- or long-term goals with self-directed registered accounts that provide tax advantages – and put you in control of your investment decisions.
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First Home Savings Account (FHSA)
Save for your first home tax-free in an FHSA. Pay no taxes on contributions or withdrawals, as long as they’re used to buy a qualifying home.
May be the right choice if you:
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Are a first-time home buyer
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Plan to buy a home in the next 15 years
- Want to reduce your taxable income
Tax-Free Savings Account (TFSA)
With a self directed TFSA, you pay no taxes on investment income and capital gains earned on qualified investments as you save up for any goal — whether it’s a home renovation, retirement or a special purchase.
May be the right choice if you:
- Want to earn tax-freeDisclaimer 1 investment income, such as interest, dividends or capital gains
- Want to invest toward short or long-term goals
- Want easy access to your money
Registered Retirement Savings Plan (RRSP)
Invest for retirement and enjoy tax benefits now and in the future. Plus, growth on investments you hold in your RRSP is tax-deferred.
May be the right choice if you:
- Want a tax-efficient way to save for retirement
- Don’t need access to your investments until you retire
- Want to reduce your taxable income today
Registered Retirement Income Fund (RRIF)
After you’ve invested for retirement, converting your RRSP to a RRIF allows you to withdraw your savings as income.
May be the right choice if you:
- Are ready to start receiving retirement income, or are turning 71 and required to close your RRSP
- Want to continue to benefit from tax-deferred growth of the investments you hold in the plan
- Prefer to have some flexibility in your retirement income
Registered Education Savings Plan (RESP)
Save for a child’s future with tax-deferred growth on your investments.
May be the right choice if you:
- Are saving for a child’s post-secondary education
- Prefer to spread out your contributions over several years
- Want access to government grants and incentives
Frequently Asked Questions
Choose from Canadian and U.S. stocks; common and preferred shares; new issues; options; rights and warrants; equity, fixed income and money market mutual funds; exchange-traded funds (ETFs); and fixed income investments such as T-bills, bonds and GICs as long as they are qualified investments.
A spousal RRSP is a retirement savings plan that allows one spouse to own the account and the other to contribute to the account. A spousal RRSP allows couples to even out retirement income to minimize income tax.
A TFSA can be used to save for any purpose—including retirement or short-term goals. A TFSA also lets you earn investment income and capital gains tax-free. You can withdraw funds at any time and you will not be taxed on the withdrawal. An RRSP is a tax efficient way to save for retirement while reducing current income tax. There are contributions limits on a TFSA and RRSP. To find out the exact amount you can contribute for the current year, check your most recent Notice of Assessment from the Canada Revenue Agency.
In 2023, the contribution limit is $6,500. You can make contributions throughout the year or in a lump sum. In addition to the annual contribution limit, your unused contribution room is carried forward indefinitely. Plus, withdrawals are added back to your contribution room the following year.
The Freedom to Invest Your Way
You can invest as much as you want with a self-directed non-registered account, also known as an investment account — but the income you earn is taxable.
Cash Account
Invest online in a flexible, highly liquid account you can access any time you need.
May be the right choice if you:
- Want easy access to your money
- Want the flexibility to invest beyond the contribution limits of registered accounts
- Are saving for short or long-term goals
Margin Account
Access additional funds by borrowing against the value of your investments, using margin-eligible securities in your RBC Direct Investing account as collateral for the loan.
May be the right choice if you:
- Want to increase your buying power
- Are comfortable with using leverage as part of your investing strategy
- Want to take advantage of competitive interest rates
Frequently Asked Questions
A cash account is a non-registered account that provides easy access to your money. You can choose to open an individual or joint account, depending on your needs. Learn more about cash accounts.
A margin account allows you to access additional funds by borrowing against the value of margin-eligible investments in the account. It gives you the flexibility to do more with your non-registered investments, and take advantage of opportunities when they arise. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. Learn more about margin accounts.
To apply for margin, download a Margin Agreement Form and an Update/Change of Client Information Form. Once completed, drop off your forms at any RBC Royal Bank branch or mail them to RBC Direct Investing using the address listed below. Note that a margin account works in conjunction with a Cash Investment Account.
Mailing Address:
RBC Direct Investing Inc.
Royal Bank Plaza
200 Bay Street, North Tower
P.O. Box 75
Toronto, Ontario M5J 2Z5
Margin account loans have competitive interest rates and allow you to borrow against the value of your investments, using margin-eligible securities in your account as collateral for the loan. Along with other account types at RBC Direct Investing, a margin account also lets you enjoy no-surprises pricingDisclaimer 2, get access to powerful tools and join the CommunityDisclaimer 3 where you can take part in discussions with other self-directed investors. Learn more about what RBC Direct Investing offers.
Have Control Over Your Non-Personal Investments
Manage your non-personal investments with accounts that have features tailored to the needs of your business, non-profit, trust, estate and more.
Non-Personal Account
May be the right choice if you:
- Are looking to invest on behalf of your corporation, partnership, holding company, or other entity
- Prefer to have a consolidated view or your personal and non-personal investments
Frequently Asked Questions
RBC Direct Investing can help you and your organization make the most of your investments. You get to access powerful tools and research, select from a wide range of accounts and investment choices tailored to your business or organization’s needs, and enjoy other special client privileges. Learn more about what RBC Direct Investing offers.
You can open a non-personal account by making an appointment at your closest RBC Royal Bank branch or RBC Direct Investing Investor Centre, or you can select the account type and download and print the appropriate PDF application forms.
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Legal Disclaimer *
A first-time homebuyer is someone who has never owned a home. If you and/or your spouse or common-law partner owned a home four or more years ago, but haven’t owned a home where you lived in the past four years, you are also considered a first-time homebuyer again under FHSA rules.
Legal Disclaimer 1)
Assets in a TFSA must be qualified investments under the Income Tax Act. If the TFSA holds nonqualified investments or carries on a business, it could be subject to Canadian tax. If the TFSA holds foreign securities (includingU.S. publicly listed), it could be subject to withholding tax in the foreign jurisdiction.
Legal Disclaimer 2)
All RBC Direct Investing clients pay $9.95 flat CDN or U.S. per equity trade with no minimum account balance or trading activity required. $6.95 flat CDN or U.S. per equity trade when you trade 150 times or more per quarter. This pricing only applies to trades placed through an available Automated Service (as such term is defined in RBC Direct Investing's Operation of Account Agreement), including the online investing site and mobile application. Additional terms and conditions apply. Visit Pricing or call 1-800-769-2560 for complete details.