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How deposit insurance works

We protect your eligible deposits that are held in our CDIC member institutions. Many people deposit money into more than one account or financial product. We insure eligible deposits for up to $100,000 (including principal and interest) at each member institution, for each of the following categories:

Coverage and Categories

Deposits held in one name

CDIC 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 registered retirement savings plan (RRSP)

Eligible deposits in a RRSP are protected up to $100,000 separately from eligible deposits in other categories.

Deposits held in a registered retirement income fund (RRIF)

Eligible deposits in a RRIF are protected up to $100,000 separately from eligible deposits in other categories.

Deposits held in a tax-free savings account (TFSA)

Eligible deposits in a TFSA are protected up to $100,000 separately from eligible deposits in other categories.

Deposits held in a Registered Education Savings Plan (RESP)

Eligible deposits in a Registered Education Savings Plan (RESP) are protected up to $100,000 per beneficiary, separately from eligible deposits held in other categories.

Deposits held in a Registered Disability Savings Plan (RDSP)

Eligible deposits in a Registered Disability Savings Plan (RDSP) are protected up to $100,000 per beneficiary, separately from eligible deposits held in other categories.

Deposits held in trust

CDIC insures up to $100,000 for each beneficiary named in a trust, provided certain disclosure rules are met.

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