What Is Deposit Insurance?

CDIC’s deposit insurance protects Canadians’ savings in case a bank, trust company, loan company or cooperative credit association* fails.

The ABCs of Deposit Insurance
Up to $100,000 of your savings are eligible for deposit insurance offered by CDIC. Your savings must be:
Held in…
A	Eligible deposits—for example, savings, chequing and GICs of 5 years or less
+	Held at…
B	Banks and other financial institutions—eligible deposits must be held at a CDIC member.
+	And held in…
C	Canadian dollars—U.S. dollar and other foreign currency deposits are not eligible.
A + B + C = eligible deposits
Find out more about what’s covered and what’s not.

CDIC’s deposit insurance insures Canadians’ savings against the failure of a bank or other financial institution if it is a CDIC member. CDIC’s deposit insurance does NOT protect against fraud, theft or scams.

There are some savings that CDIC does NOT insure, such as mutual funds and stocks. See What’s Covered, What’s Not Covered to learn if your savings are protected by CDIC.

Not all banks and other financial institutions are members of CDIC. To be insured by CDIC, your savings must be in a bank, trust company, loan company or cooperative credit association* that is a CDIC member. See the current list of CDIC members.

Take a few minutes to find out if your savings are covered.

* a cooperative credit association to which the Cooperative Credit Associations Act applies.