No. Deposit insurance protects only depositors.
Frequently Asked Questions
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- How quickly will the Liquidator make payments on certificates?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Which institutions depositors are insured by the DIC?
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.
