What is CDIC?

CDIC is a federal Crown corporation that protects eligible deposits at Canadian banks and financial institutions. If a member bank fails, CDIC ensures that depositors don’t lose their insured savings.

What Does CDIC Cover?

CDIC insures up to $100,000 per depositor per insured category, including:
✔️ Chequing & savings accounts
✔️ GICs (Guaranteed Investment Certificates) up to 5 years
✔️ Foreign currency deposits (like USD accounts)
✔️ Registered accounts (RRSPs, TFSAs, etc.)

What’s NOT Covered?

❌ Stocks, bonds, mutual funds
❌ ETFs or cryptocurrencies
❌ Contents of safety deposit boxes

Why It Matters to You

• Peace of Mind: Your deposits are protected even if your bank collapses.

• Smart Banking: Spreading funds across different CDIC-insured institutions can increase your total coverage.

• Regulated Security: Unlike private deposit insurance, CDIC is backed by the Government of Canada.

Check here if your institution is covered by CDIC: