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
- Does the borrower’s obligations to the institution continue after the institution is closed?
- When is the Liquidator appointed?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
