What Is Deposit Insurance?
CDIC’s deposit insurance protects Canadians’ savings in case a bank, trust company, loan company or cooperative credit association* fails or goes bankrupt.

The ABCs of Deposit Insurance
Up to $100,000 of your savings are insured by CDIC as soon as you deposit them in an eligible account. Your savings must be:
A	Accounts that are eligible—for example, savings, chequing and GICs of 5 years or less.
+	Held at…
B	Banks and other financial institutions—insured deposits must be held at a CDIC member.
+	And held in...
C	Canadian dollars—U.S. dollar and other foreign currency deposits are not eligible.
A + B + C = insured deposits
Find out more about what’s covered and what’s not.

CDIC’s deposit insurance insures Canadians’ savings against the failure of a bank or other financial institution if it is a CDIC member. CDIC’s deposit insurance does NOT protect against fraud, theft or scams.

There are some savings that CDIC does NOT insure, such as mutual funds and stocks. See What’s Covered, What’s Not Covered to learn if your savings are protected by CDIC.

Not all banks and other financial institutions are members of CDIC. To be insured by CDIC, your savings must be in a bank, trust company, loan company or cooperative credit association* that is a CDIC member. See the current list of CDIC members.

Take a few minutes to find out if your savings are covered.

* a cooperative credit association to which the Cooperative Credit Associations Act applies.

Please Note: This website is designed to give general information about deposit insurance and should not be relied upon as definitive. The actual deposit insurance coverage provided by CDIC following the failure of a member institution is based on the deposit account records at the failed member institution and is governed by the Canada Deposit Insurance Corporation Act.