Frequently Asked Questions
- Does the borrower’s obligations to the institution continue after the institution is closed?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- Which institutions depositors are insured by the DIC?
- Can a depositor leave his/her deposit with the transferee institution?
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.
