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?
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
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.