Deposit insurance is payable only when an institution has been closed as a result of action taken by the Central Bank.
Frequently Asked Questions
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.