Our role

Notice: The Government of Canada has approved changes to the CDIC Act to modernize and enhance CDIC deposit protection. These changes will be reflected on this website when they take effect. Until then, current coverage rules apply.

Calculate your coverage lock iconWe are the federal Crown corporation that protects deposits held at its member financial institutions, in case of their failure.

Banks and other financial institutions in Canada seldom fail, but it has happened and could happen again.

Knowing that their deposits are protected against failure helps Canadians feel confident about keeping their money in banks and other financial institutions that are CDIC members. This helps to keep the Canadian financial system strong, which benefits all Canadians.

The maximum protection for eligible deposits is $100,000 (principal and interest combined) per category, at each CDICmember institution.

Are you covered? Check that you have:

  1. Eligible deposits;
  2. held in insured categories;
  3. in Canadian dollars, payable in Canada;
  4. at a CDIC member financial institution.

Coverage is free. You do not pay CDIC for deposit insurance. Our member institutions pay premiums to CDIC. Protection up to $100,000 per category is automatic if you bank with one of our members.

Deposits are not insured separately if made at different branches of the same CDIC member institution.