We insure eligible deposits at each member institution up to a maximum of $100,000 (principal and interest combined) per depositor per insured category.

To be eligible for deposit insurance, deposits must be payable in Canada and in Canadian currency. We do not cover foreign currency deposits including US dollars.

Eligible deposits include:

  • Savings accounts
  • Chequing accounts
  • Term deposits, (such as GICs) with original terms to maturity of five years or less
  • Debentures issued to evidence deposits by CDIC member institutions (other than banks)
  • Money orders and bank drafts issued by CDIC members
  • Cheques certified by CDIC members

What’s Not Covered

Uninsured financial products include:

Under the CDIC Deposit Insurance Information By-law, member institutions must notify depositors when a deposit (or deposit-like) product is not eligible for insurance. For example, if a term deposit is in a foreign currency, the deposit certificate or receipt must state that it is not insured by CDIC.