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.

What's covered?

  • Savings and chequing accounts
  • Guaranteed Investment Certificates (GICs) and other term deposits with original terms to maturity of five years or less

What's not covered?

  • Mutual funds, stocks and bonds
  • Foreign currency (eg. $U.S.)

What's not covered?

  • Mutual funds, stocks and bonds
  • Foreign currency (eg. $U.S.)
 

What happens if a CDIC member fails?

Your money belongs in your hands. CDIC works hard to protect your savings and your access to financial services. If your institution closes, we will reimburse your insured funds (including interest) within days.

It's automatic - we will contact you.

 

What you can do?

  • Keep your contact information at your financial institution up-to-date so CDIC can send payment if necessary.
  • Know what is covered and what is not.

Learn more about CDIC's role as Canada's resolution authority.

Public awareness video

Back to top