Deposits held in a Tax-Free Savings Account (TFSA)
CDIC protects eligible deposits held in Tax-Free Savings Accounts (TFSA).
Example
Bree uses her TFSA as her family’s emergency fund.
This is Bree’s TFSA portfolio. Here is what does (✓) and does not (✗) qualify for CDIC coverage:
- $16,000 in a GIC
- $10,000 in stocks and bonds
- $5,000 in an ETF
Total portfolio
$31,000
Eligible deposits
$16,000
Protected by CDIC
$16,000
In Bree’s TFSA portfolio, the GIC is eligible for coverage.
Deposit insurance is free and automatic.
See how CDIC deposit protection works and explore the different coverage categories.
Explore how deposit insurance works