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
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- When is the Liquidator appointed?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
Did You Know?
- Misconception: The uninsured balance, being that portion of deposit/(s) over TT$125,000 for which a certificate was issued, would never be honoured by the DIC. - Fact: A liquidator’s certificate is issued to the depositor by the Corporation for the unsecured balance being that portion of the deposit over TT$125,000. If, the realizations from the disposal of assets net of the subrogated claim of the deposit insurer results in a surplus, then unsecured balances would be …