Chequing and savings deposits
Eligible Canadian- or foreign-currency deposits at member institutions.
Learn more Canadian bank account comparison and education
CDIC Deposit Insurance Canada
CDIC deposit insurance in Canada what is protected and how the limits work
Understand eligible deposits, the $100,000 limit per insured category, member institutions and what CDIC does not cover.
MoneyMatch provides education and comparison tools. Fees, rates, promotions and eligibility depend on the financial institution and current terms.
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CDIC Deposit Insurance CanadaCompare smarter
Monthly costCompare
AccessCompare
FeaturesCompare
Check eligible deposit protection
Compare ongoing value
Coverage is organized by institution and insured category
Holding money in more than one insured category—or at more than one CDIC member institution—can result in total coverage above $100,000, provided each deposit is eligible and the category rules are met.
Compare monthly cost
Fees and conditions affect real value.
Compare access
Transfers, ATMs and branches matter.
Compare features
App, deposits and support can differ.
Check protection
Confirm eligible deposit coverage.
Quick answer
How much does CDIC insure?
CDIC currently insures eligible deposits at member institutions separately up to $100,000 per insured category, including principal and interest.
Coverage is organized by institution and insured category
Holding money in more than one insured category—or at more than one CDIC member institution—can result in total coverage above $100,000, provided each deposit is eligible and the category rules are met.
CostKnow the ongoing fees.
AccessMatch branches, ATMs and digital service.
ProtectionCheck eligible deposit coverage.
Compare
Compare the main options
Different account structures fit different banking needs.
GICs and term deposits
Eligible term deposits at CDIC member institutions.
Learn moreRegistered deposits
Eligible deposits held in certain registered categories.
Learn moreInvestments not covered
Stocks, bonds, mutual funds, ETFs and cryptocurrencies are not CDIC deposits.
Learn moreWho it suits
When this account may—or may not—fit
May fit when
- You keep significant cash at Canadian banks.
- You want to verify whether an institution is a CDIC member.
- You hold deposits across multiple categories.
- You want to understand what happens if a member institution fails.
Look more closely when
- You assume every financial product is CDIC-insured.
- You treat mutual funds or ETFs as deposits.
- You ignore the legal institution behind a brand.
- You assume a $100,000 limit applies only once across all categories.
What to compare
Key factors that determine real account value
Look beyond the headline fee or promotion.
$100,000
Current maximum per insured category at each member institution, including principal and interest.
Eligible deposits
Include qualifying Canadian- and foreign-currency deposits and term deposits.
Separate categories
Different insured categories receive separate coverage.
Member institution
Coverage applies only at CDIC members.
Not investments
Stocks, bonds, mutual funds, ETFs and crypto are not CDIC-insured deposits.
Automatic protection
Eligible deposits at member institutions are insured automatically; there is no separate signup.
Ready to compare?
Compare bank accounts before you open one
Match monthly cost, access and features to how you actually bank.
Decision checklist
CDIC coverage checklist
Use the same questions for every account you shortlist.
InstitutionConfirm it is a CDIC member.
ProductCheck that it is an eligible deposit.
CategoryKnow which insured category applies.
BalanceInclude principal plus accrued interest when considering the limit.
How to choose
A practical comparison process
1. Identify the legal institution
Brands and trade names can sit under the same member institution.
2. Confirm CDIC membership
Use CDIC’s official member list.
3. Classify each deposit
Determine the insured category.
4. Add balances within each category
Coverage is measured by category at each member.
5. Review after large deposits or account changes
Your coverage mix can change over time.
Pros and cons
Benefits and trade-offs
Benefits
- Automatic protection for eligible deposits.
- Separate insured categories can expand total protection.
- Covers eligible deposits in Canadian and foreign currency.
- No premium is charged directly to depositors.
Trade-offs
- Coverage is limited by category and member institution.
- Investments such as ETFs and mutual funds are excluded.
- Trade names can share the same underlying member.
- Balances above limits may not be fully protected.
How MoneyMatch compares bank accounts
Ongoing value matters more than a temporary promotion
Coverage details were reviewed against CDIC’s current official guidance in September 2026, including eligible deposits, excluded investments and the $100,000-per-category limit.
Total cost
We consider monthly fees, transaction charges and conditions.
Access and usability
We compare ATMs, branches, transfers and digital features.
Protection and fit
We consider eligible deposit protection and whether the account matches the intended user.
Author: Money Match Canada · Coverage: Canada · Updated September 6, 2026
Disclosure: MoneyMatch Canada may receive compensation from some financial institutions or partners. Compensation does not guarantee placement, account approval or a particular rate.
Frequently asked questions
CDIC Deposit Insurance Canada: common questions
How much does CDIC insure?
CDIC currently insures eligible deposits separately up to $100,000 per insured category at each member institution, including principal and interest.
Are chequing and savings accounts covered by CDIC?
Eligible deposits in chequing and savings accounts at CDIC member institutions can be covered within the applicable category limits.
Are GICs covered by CDIC?
Eligible GICs and other term deposits at member institutions can be covered.
Are ETFs or mutual funds covered by CDIC?
No. Stocks, bonds, mutual funds, ETFs and cryptocurrencies are not CDIC-insured deposits.
Do I need to apply for CDIC insurance?
No. Eligible deposits at CDIC member institutions are protected automatically within the coverage rules.
Compare before you open
Check the institution, product and insured category—not just the account brand
CDIC protection is powerful, but the legal institution and category determine how much of a deposit is insured.
MoneyMatch does not guarantee account approval, promotional rates, interest rates, bonuses or eligibility.