The Government of Canada has proposed changes
in Budget 2018 to modernize and enhance CDIC deposit protection. These changes would take effect after they are approved by Parliament. Until then, the current coverage rules apply. We will update our website at such time as changes take effect.
eligible deposits that are held in our
CDIC member institutions, in Canadian currency. Many people deposit money into more than one account or financial product. We insure eligible deposits SEPARATELY (up to $100,000, including principal and interest) for EACH of the following seven
Deposits held in one name
insures eligible deposits held in the name of one depositor separately from other categories up to $100,000.
Deposits held in more than one name
Joint deposits are those held in the names of two or more people. Coverage for joint accounts is for a total of up to $100,000 regardless of the number of joint depositors.
Deposits held in a RRSP
Eligible deposits in a RRSP are protected up to $100,000 separately from eligible deposits in other categories.
Deposits held in a RRIF
Eligible deposits in a RRIF are protected up to $100,000 separately from eligible deposits in other categories.
Deposits held in a TFSA
Eligible deposits in a TFSA are protected up to $100,000 separately from eligible deposits in other categories.
Deposits held in trust
CDIC insures up to $100,000 for each beneficiary named in a trust, provided certain
Deposits held for paying taxes on mortgaged properties
CDIC deposit insurance covers deposits held separately to pay property taxes on mortgaged properties held in Canadian dollars at a
Deposits with a 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.