NSFISI | Financial

NS Financial and Insurance Services Inc., is your first choice in financial products and services. we can provide you with the very best in financial products and services available. We can assist you in providing for you and your family today, tomorrow and into the future

We can also assist you in providing for your family with financial security in the event of your death.

Tax Free Savings Accounts

TFSA

The Tax-Free Savings Account (TFSA, French: Compte d’Épargne Libre d’Impôt or CÉLI) is an account that provides tax benefits for saving in Canada. Investment income, including capital gains and dividends, earned in a TFSA is not taxed in most cases, even when withdrawn. Contributions to a TFSA are not deductible for income tax purposes, unlike contributions to a Registered Retirement Savings Plan (RRSP).

Despite the name, a TFSA does not have to be a cash savings account. Like an RRSP, a TFSA may contain cash and/or other investments such as mutual funds, certain stocks, bonds, or Guaranteed Investment Certificates (GICs)

Guaranteed investment certificate

GIC

The rate of return on a GIC varies depending on the various factors, such as the length of the term and specified interest rates from the Bank of Canada. At the time of purchase, the rate is higher than the interest on a savings account. The return on the investment will be low if the savings interest rate becomes higher than the GIC rate of return and will be high otherwise.

The principal amount is not at risk unless the bank defaults. The guarantee for GICs is provided by the Canada Deposit Insurance Corporation (CDIC) up to a maximum of $100,000 (principal and interest combined), as long as the issuing financial institution is a CDIC member and the original term to maturity is five years or less.

Registered Retirement Savings

RRSP

We can set up a registered retirement savings plan for you. You may want to set up a spousal or common-law partner RRSP. This type of plan can help ensure that retirement income is more evenly split between both of you.

T hey must comply with a variety of restrictions stipulated in the Canadian Income Tax Act. Approved assets include savings accounts, guaranteed investment certificates (GICs), bonds, mortgage loans, mutual funds, income trusts, corporate shares, foreign currency and labour-sponsored funds.
Rules determine the maximum contributions, the timing of contributions, the assets allowed, and the eventual conversion to a Registered Retirement Income Fund (RRIF) at age 71.

Education Savings (RESP)

RESP

An RESP is an ideal way to finance a child's post-secondary education, as it allows you to accumulate up to $50,000.

Build tax-free savings.
Benefit from a Canada Education Savings Grant equal to 20% of your annual contributions.
The beneficiary can be your child, grandchild, niece or nephew who enrols in a recognized post-secondary institution as a full-time student, regardless of his or her age.

Home Buyers' Plan

HBP

The Home Buyers" Plan is a government program that facilitates the purchase of your first home by allowing you to use part of your Registered Retirement Savings Plan (RRSP) as a tax-free, cash down payment.

Each spouse can withdraw up to $25,000 from his or her RRSP, tax-free.

These amounts can be withdrawn from an RRSP from any financial institution.

The government gives you two full calendar years before you need to start paying back your HBP. You have up to 15 years to complete the payments.

Deferred Life Annuity

If you are between the ages of 40 and 60, now's the time to start planning ahead for your retirement. We offer a deferred life annuity which provides you with a retirement income or income supplement that is 100% GUARANTEED FOR LIFE.

Simple, guaranteed and with no unpleasant surprises

Find out today exactly how much you need to save to get the retirement income you want Your contributions are considered tax-deductible RRSP contributions

Benefit from stable and secure investment offering protection against market fluctuations

Segregated Funds

A segregated fund is an investment fund that combines the growth potential of a mutual fund with the security of a life insurance policy.

Like mutual funds, segregated funds consist of a pool of investments in securities such as bonds, debentures, and stocks.

The value of the segregated fund fluctuates according to the market value of the underlying securities.

Segregated funds do not issue units or shares; therefore, a segregated fund investor is not referred to as a unitholder.

Instead, the investor is the holder of a segregated fund contract.

Contracts can be registered (held inside an RRSP or TFSA) or non-registered (not held inside an RRSP or TFSA).

Registered investments qualify for annual tax-sheltered RRSP or TFSA contributions.

Fixed Rate Mortgages

In Canada the longest term for which a mortgage rate can be fixed is typically no more than ten years, while mortgage maturities are commonly 25 years.

We can arrange a Fixed rate mortgage to suit your individual need and budget. In partnership with industry leading lenders, we are able to offer competitive rates with on par with the "big" five banks in Canada.

If you have a fixed-rate mortgage

Over 65 per cent of Canadians have fixed-rate mortgages, which, as the name implies, remain fixed through the term of the loan. Here’s what these homeowners need to know:

An interest rate hike affects fixed-rate mortgages, too. Fixed-rate mortgages tend to follow bond yields, the amount of return investors realize on bonds.
But investors’ expectations about what the BoC will do with its key rate affect bond yields. Therefore, indirectly, an interest rate hike has implications for fixed-rate mortgages, too.

Variable Rate Mortgages

Thinking of taking on or renewing your mortgage?

You might want to take a close look at variable-rate mortgages

Fixed rates guarantee monthly payments will stay constant through the duration of the loan. Variable rates, as the name, can change

whereas

Variable rates move in tandem with the prime rate, the interest rate that lenders charge to their best customers.

If a lender decides to raise or lower its prime rate, mortgage payments will move up or down according to a predetermined percentage spread over or below the prime.

The Bank of Canada’s benchmark interest rate, which affects variable rates, shows no sign of moving. Unlike the Fed, Canada’s central bank continues to feel queasy about economic conditions in its domestic market and has given no indication that it is going to raise rates. Because prime rates are tied to the BoC’s benchmark rate, there is little foreseeable upward pressure on variable rates.

Important As of October of last year, borrowers who opt for a five-year fixed-rate mortgage have to pass a stress test that ensures they will be able to carry their mortgage if rates rise.

Advantages

Attractive initial interest rate
Each subsequent year, enjoy a reduction on the prime rate.
Convert your loan, at any time and with no fees, to a closed fixed rate loan with a term equivalent to or greater than the remaining term

OUr lender offer a complete line of variable rate mortgages,. You want to save as much as you can on your mortgage. We can offers you an excellent way to achieve this:

Adjust your interest rate every 3 or 12 months for the next five years.

Financial Tools

Please use our FREE calculators and our Revenue Canada link for more information.

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