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.
Our calculator can help you understand coverage. Protection is based on several deposit categories that keep your money safe throughout your life.
Calculate your coverage