Contact an
MD Advisor

Business Banking Solutions

Managing your medical practice takes time and money. We can help you save both with our business banking advice and special rates. Our business accounts have been designed specifically with you in mind – and give you a low-cost alternative to similar business banking solutions offered by competitors.

Physician Business Account

MD and National Bank designed this accounti to meet the needs of unincorporated and incorporated sole practitioner physicians.

  • no monthly fees
  • interest-bearing at Primeii less 3.5%. See current ratesiii
  • no-fee access to internet and telephone banking
  • can be electronically linked to a Physician Business Line of Credit

Physician Business Line of Credit

The Physician Business Line of Creditiv is the most flexible way to access funds for your professional needs. This revolving credit arrangement helps you simplify your banking.

It’s ideal for busy professionals who don't always have time to move funds to and from an operating account. Each time your Physician Business Account has insufficient funds, 5% of your authorized line of credit limit is automatically moved to cover the deficit in your operating account. And if your operating account has a growing balance, your line of credit is automatically repaid in similar 5% increments.

Benefits include:

  • excellent rates—no need to negotiate new financing every time you need funds, as long as your limit is not exceeded
  • electronically linked to the Physician Business Account
  • no fixed monthly or annual fees

Talk to an MD Advisor.

Contact your MD Advisor for professional advice and a banking referral. Email or call the MD Banking Solutions Service Centre at National Bank (1 866 333-2580) for more product information.

National Bank Logo

Sign In to access your National Bank account or sign up for online services.

Find the closest ATM

i Only available to eligible self-employed physicians (incorporated or unincorporated). Business Account does not permit more than two signatories.

ii Interest paid monthly on average balance: prime less 3.50%. (If the Prime rate is equal or less than 3.5%, the account will not earn interest.) The Bank’s Prime Rate is the annual variable interest rate posted from time to time by the Bank as a benchmark for settling the interest rate on Canadian dollars demand loans granted by the National Bank in Canada. The interest rate is calculated on the daily closing balance and credited monthly. This rate is subject to change without notice. To check the prime rate, which is updated regularly, click here.

iii If the Prime rate is equal or less than 3.5%, the account will not earn interest. The interest rate is calculated on the daily closing balance and credited monthly.

iv A statement of account is issued monthly. Account handling charge: $0.00/month. The annual interest rate for a Line of Credit is the prime rate* + 0.375% (representing a rate of 3.075% as at July 17, 2015). The Line of credit bears interest as of the date it is used. The minimum monthly amount is limited to the monthly interest and the life insurance premium (if applicable) as long as limits are respected. Examples of credit charges calculated for a 30-day period at the rate in effect on July 17, 2015:

If average balance is:
Physician Business Line of Credit$500.00$3,000.00
Prime rate (3.075%)$1.34$8,06

Banking products are provided by National Bank of Canada's Partnership Branch though a relationship with MD Management Limited. Financing solutions and credit cards are granted, subject to credit approval by National Bank.