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Deposits covered by the CDIC are safeguarded up to $100,000 per depositor in various insured categories. These categories encompass a spectrum of accounts and investments, including checking and savings accounts, tax-free savings accounts (TFSAs), and guaranteed investment certificates (GICs) with maturities of five years or less.

This applies to deposits held at CDIC member institutions in Canada. Find out if your financial institution is a member of CDIC. What deposit insurance covers. CDIC insures eligible deposits separately up to $100,000. Deposit insurance covers the following types of deposits: savings and chequing accounts

Business bank accounts and CDIC coverage. CDIC coverage extends to business bank accounts as well, with a maximum of $100,000 in coverage per category. This includes deposits held in the name of a partnership and corporation. Sole proprietorships are insured under the same category as personal deposits, so any business accounts held in a sole proprietorship should be added together with ...