Your coverage

Notice: The Government of Canada has announced that changes to the CDIC Act to modernize and enhance CDIC deposit protection will come into force on April 30, 2020 and April 30, 2021. PLEASE NOTE: Until then, current coverage rules apply.

How deposit insurance works

We insure 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 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 trust

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

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 CDIC member.

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