Here’s an example of a portfolio within a single TFSA – and what does (✓) and does not (✗) qualify for CDIC coverage:
- $ 10,000 in a one-year GIC ✓
- $ 5,000 in a two-year term deposit ✓
- $ 10,000 in stocks and bonds ✗
- $ 2,000 in mutual funds ✗
- = $27,000 of which $15,000 is covered.
What’s protected & why:
The GIC and term deposit are eligible deposits insured for up to $100,000 within a TFSA. So, of the $27,000 in total deposits above, $15,000 is covered.
What’s not insured & why not:
CDIC does not insure stocks, bonds or mutual funds, so $12,000 in those investments is not covered.