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.
Frequently Asked Questions
- How quickly will the Liquidator make payments on certificates?
- When is the Liquidator appointed?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
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.
