Interest will be paid on an account up to the date of closure of an institution, even if the maturity date of the account is beyond the date of closure.
Frequently Asked Questions
- Can a depositor leave his/her deposit with the transferee institution?
- What happens to those depositors whose accounts are subject to further examination?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
Did You Know?
- Misconception: Beneficiaries under all trust account arrangements are insured separately. - Fact: The interests held by beneficiaries established under an irrevocable express trust account are insured separately up to the maximum TT$200,000 prescribed limit. Additionally, interests in accounts held by the Settlor, Trustee or Administrator of an irrevocable trust account are insured separately from the interests of the beneficiaries named under …
