Financial Solutions

Solutions Banking

The smart choice for your banking needs.

Solutions BankingTM is a smart alternative to traditional banking. It’s simple and straightforward; competitive and convenient.

Branchless banking

Whether you’re a high-school student, a senior, or somewhere in-between, Solutions Banking has a chequing or savings account to meet your daily needs.

Chequing account:  This chequing account allows you to handle day-to-day transactions while earning interest.

Merit account: This chequing account for individuals 59+ offers a simple, convenient and inexpensive way to manage monthly income and payments.

Get growing account: Because it’s never too soon to learn how to manage your money, this chequing account helps children 18 and under learn the basics of banking.

Preferred savings account: This competitive savings account combines competitive interest rates with your daily banking needs, making it easier for you to save for that special purchase.

Some fees may apply. For full fee disclosure refer to the Solutions Banking Product and Service Guide to Fees.

Solutions BankingTM is a trademark of Power Financial Corporation. Freedom 55 Financial and design are trademarks of London Life Insurance Company. National Bank of Canada is a licensed user of these trademarks. Solutions Banking products and services are provided by National Bank of Canada.

Borrowing

Whether you want to be prepared for occasional emergency expenses, take advantage of an investment opportunity, renovate your home or cottage, or buy a new car or boat, Solutions Banking offers several lending options to help you reach your goals.

Lines of credit

For access to credit, consider one of these Solutions Banking options:

Secured personal flex line of credit:  This line of credit is like having a pre-approved loan at your fingertips, with all the access privileges of a chequing account. That means you can access funds whenever you need them to help pay for unplanned expenses, to consolidate loans, or to finance a large purchase.

Secured by your London Life segregated fund policy or Quadrus Group of Funds mutual fund investment, the Personal Flex Line gives you access to financing without having to redeem your investment.

Investment line of credit*:  Borrowing to invest (also called leveraging) can sometimes be a useful strategy to help grow your non-registered investment portfolio and build your wealth, but there are potential risks involved where losses are magnified making this strategy not suitable for everyone.

The investment line of credit is a single disbursement that allows you to invest a larger sum of money at one time, rather than making smaller contributions over a longer period. It may also reduce personal income taxes, because the interest paid on a loan may be tax deductible when used exclusively to generate income.**

Cash surrender value (CSV) line of credit:  The CSV line of credit allows you to use the cash surrender value accumulated in your personally owned or corporately owned permanent life insurance policy issued by London Life as collateral to secure a personal line of credit.

The CSV line of credit can provide a lump sum of money to help you pay for unplanned expenses. It can also be used to produce a cash flow during your lifetime while maintaining a death benefit payable at your death.

Loans

If you know the amount you want to borrow, a Solutions Banking loan might be a good option to help you meet your goals.

Secured personal loan:  A secured personal loan is ideal for one-time expenditures. It may be a good choice if you want to finance a large purchase or consolidate other loans into one low interest rate.

Registered retirement savings plan (RRSP) loan:  An RRSP loan allows you to take advantage of unused RRSP contribution room and may reduce your personal income taxes.

Investment term loan*: An investment term loan allows you to invest a larger sum of money at one time, rather than making small contributions over a longer period. It may also reduce personal income taxes, because the interest paid on a loan may be tax deductible when used exclusively to generate income.**

There are potential risks involved where losses are magnified when borrowing to invest for either a registered retirement savings plan or an investment term loan making this strategy not suitable for everyone.

* While borrowing to invest has many potential benefits (investing an initial lump sum creates greater potential for compound-growth compared to making smaller regular investment purchases), it also has potential risks (market volatility may result in poor investment returns and the possibility of owing more on the loan than the investments are worth).

** At this time, Canada Revenue Agency (CRA) indicates that investments such as mutual fund trusts, corporations and segregated fund policies are eligible investments for interest deductibility purposes. Canada Revenue Agency can change its position at any time, so interest deductibility cannot be guaranteed. For Quebec income tax purposes, investment expenses (which include interest on loans that were used to purchase non-registered investments) are only deductible up to the actual amount of taxable investment income earned during a particular year. Investment expenses in excess of the taxable investment income in a year may be carried back three years or carried forward indefinitely to offset taxable investment income.

Some fees may apply. For full fee disclosure refer to the Solutions Banking Product and Service Guide to Fees.

Quadrus Group of Funds is exclusively offered through Quadrus Investment Services Ltd. Important information about mutual funds is found in the Fund Facts. You can obtain a copy of this from your investment representative. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Unit values and investment returns will fluctuate.

Solutions BankingTM is a trademark of Power Financial Corporation. Freedom 55 Financial and design are trademarks of London Life Insurance Company. National Bank of Canada, the provider of Solutions Banking products and services, is a licensed user of these trademarks. Solutions Banking products and services and provided by National Bank of Canada.

All-in-One: Making your money work harder

By using the equity in your home, the Solutions Banking All-in-One can help you build wealth faster. It’s a mortgage financing solution, a line of credit, a transaction account, a source of funds for investments and a savings account – all rolled into one.

It’s a smart and simple way to help build wealth and manage your daily banking needs.

All-in-One may be right for you if you want to:

  • Build wealth faster
  • Pay off loans faster
  • Pay less interest
  • Access your home equity
  • Simplify your banking

Some fees may apply. For full fee disclosure refer to the Solutions Banking Product and Service Guide to Fees.

The All-in-One is not available in the Yukon, Nunavut or Northwest territories.

Solutions BankingTM is a trademark of Power Financial Corporation. Freedom 55 Financial and design are trademarks of London Life Insurance Company. National Bank of Canada, the provider of Solutions Banking products and services, is a licensed user of these trademarks. Solutions Banking products and services and provided by National Bank of Canada.