The insured limit is a maximum of $200,000 for each depositor in respect of deposits held in each insured institution in each right and capacity.
Frequently Asked Questions
- Are any other cash liabilities of financial institutions covered?
- When can an eligible depositor expect to receive his or her money?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
