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
- How does the closing of an institution affect interest accruing on a deposit?
- What happens to those depositors whose accounts are subject to further examination?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Can a depositor leave his/her deposit with the transferee institution?
Did You Know?
- Misconception: Certificates, deposit books and other documentary evidence of deposits held in a member institution are not relevant to making claims in the event of a failure. - Fact: A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process. See Tips for Depositors.
