Frequently Asked Questions
- Are any other cash liabilities of financial institutions covered?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- When is deposit insurance payable?
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.
