About deposit insurance

We are the federal Crown corporation that protects eligible deposits at each of its member financial institutions to a maximum of $100,000, per separately insured category, in case of a failure. Banks and other financial institutions in Canada seldom fail, but it has happened and could happen again.

Calculate your coverage

CDIC has a number of tools to help you understand what is and is not covered by CDIC deposit insurance.

How deposit insurance works

Eligible deposits in each of CDIC’s categories is separately protected up to $100,000 per member institution.

What's covered, what's not?

Not all deposits are protected by CDIC. Do you know what’s covered?

Retirement planning

The Canada Deposit Insurance Corporation (CDIC) can provide peace of mind as you plan for your retirement.

Federal Credit Union

Eligible pre-existing deposits with a Federal Credit Union are provided transitional coverage. Learn how insurance works for these member financial institutions.
      

Protecting Canadian funds in Canada

To be eligible for CDIC insurance, deposits must be payable in Canada, and in Canadian currency. As a general rule, this means if it is recorded at a branch or office of a CDIC member institution in Canada, it is eligible for CDIC insurance.

Who pays for deposit insurance?

We do not receive tax funds. Instead, CDIC member institutions pay premiums to CDIC to cover the cost of insuring your deposits.

Coverage is automatic: you don't have to apply for it. If there's a failure and your deposits are insured, you won't have to file a claim: we will pay you automatically.