The insured limit is a maximum of $125,000 for each depositor in respect of deposits held in each insured institution in each right and capacity.
Frequently Asked Questions
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- When must a depositor file a claim?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
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.