CDIC coverage calculator
Enter a deposit and its account type. See what one CDIC member covers, and the fewest members that keep all of it covered at this month's posted rates.
Split as shown, every dollar stays inside CDIC's $100,000 limit at each of 3 institutions. At Achieva Financial (DGCM), Beem Credit Union and Vancity (CUDIC), Servus Credit Union (CUDGC) and ATB Financial (the Government of Alberta) the whole amount is guaranteed at one institution, with no dollar limit; the best 5-year rate among them is 4.10% at Achieva Financial. Coverage rules are set by each regulator and change from time to time. They are not part of our monthly rate check, so confirm the current limits with DGCM, CUDIC, CUDGC, the Government of Alberta and CDIC before relying on them.
The figures assume this is the only money you hold in this category at each institution, and apply one limit per depositor. Other deposits in the same category at the same member, and trust or business structures beyond the category selected, are not modelled. Rates are posted non-registered rates. None of this is legal or tax advice.
| Institution | Deposit | 5-year rate |
|---|---|---|
| WealthONE Bank of Canada | $100,000 | 4.50% |
| Oaken Financial | $100,000 | 4.40% |
| MCAN Wealth | $50,000 | 4.35% |
How CDIC coverage works
CDIC insures eligible deposits up to $100,000 in each insured category, and a depositor with deposits in more than one category can have more than $100,000 of coverage at the same member. CDIC, what’s covered The limit applies separately at each member institution, so the same category at two members is covered twice. CDIC, GICs
CDIC coverage categories
RRSP, RRIF, RESP, RDSP, TFSA and FHSA are each a separate insured category with its own $100,000. With deposits in your own name, joint deposits and deposits in trust, that makes nine categories. CDIC, what’s covered
How to maximize CDIC coverage
Hold the deposit at more than one CDIC member, or in more than one category: each member and each category carries its own $100,000. Multiple accounts in the same category at the same member do not: savings, chequing and term deposits, GICs included, held in your own name are combined for one $100,000 limit at each member. CDIC, deposits held in one name
A brand that is a trade name or division of a member is not a separate member, and its deposits fall under that member’s coverage. CDIC lists CIBC and Simplii Financial under the same member, Canadian Imperial Bank of Commerce, so they share one limit. Tangerine Bank is listed as a member in its own right, separate from The Bank of Nova Scotia. CDIC also lists Prospera and Sunshine Coast Financial under Coast Capital Savings Federal Credit Union and Enderby & District Financial, Envision Financial, Island Savings and Valley First under Tru Cooperative Bank. CDIC, list of member institutions
CDIC coverage for joint accounts
Joint deposits are covered separately from each owner’s own deposits: up to $100,000 per set of joint owners, however many people own the deposit, and each different set of owners gets its own $100,000. To count as a joint deposit, the member’s records must state that the deposit is owned jointly and give the name and address of each owner. CDIC, joint deposits
CDIC coverage for business accounts
Eligible deposits in the name of a corporation or partnership are covered to $100,000 per category, separately from the owners’ personal deposits. A sole proprietorship gets no separate coverage: its deposits are combined with the owner’s own. CDIC FAQ, business accounts
Is a GIC covered by CDIC?
Yes. A GIC is covered when a CDIC member issued it and it is held in an insured category, even if you bought it through a broker or a non-member. A GIC is a deposit type, not a category: it counts toward the limit of the category it is held in. CDIC, GICs
Term deposits longer than five years have been eligible since April 30, 2020. They get no separate coverage and are combined with the other deposits in the same category. CDIC FAQ, term deposits A market-linked or index-linked term deposit is insurable only if its principal is fully repayable. CDIC, term deposits
CDIC coverage for US dollar deposits
Deposits in foreign currency, US dollars included, are covered but get no separate limit: they are combined with the Canadian dollar deposits in the same category and paid out in Canadian dollars. CDIC FAQ, foreign currency
CDIC members posting a US dollar GIC: RBC Royal Bank, BMO, CIBC, Tangerine, Coast Capital Savings and Tru Cooperative Bank. Every issuer's rates and coverage are compared on the US dollar GIC rates page.
CDIC coverage and credit unions
Provincial credit unions cannot be CDIC members; each province’s own deposit insurer protects them. A credit union that continues as a federal credit union becomes a CDIC member. CDIC FAQ, credit unions Rates and guarantees by province: Ontario, Manitoba, Alberta and British Columbia.
Deposit insurance by issuer| Institution | Insurer | Limit | Registered |
|---|---|---|---|
| BMO | CDIC | $100,000 | $100,000 |
| CIBC Shares one limit with Simplii Financial | CDIC | $100,000 | $100,000 |
| Coast Capital Savings | CDIC | $100,000 | $100,000 |
| EQ Bank | CDIC | $100,000 | $100,000 |
| MCAN Wealth | CDIC | $100,000 | $100,000 |
| National Bank of Canada | CDIC | $100,000 | $100,000 |
| Oaken Financial | CDIC | $100,000 | $100,000 |
| RBC Royal Bank | CDIC | $100,000 | $100,000 |
| Scotiabank | CDIC | $100,000 | $100,000 |
| Simplii Financial Shares one limit with CIBC | CDIC | $100,000 | $100,000 |
| Tangerine | CDIC | $100,000 | $100,000 |
| TD Bank | CDIC | $100,000 | $100,000 |
| Tru Cooperative Bank | CDIC | $100,000 | $100,000 |
| WealthONE Bank of Canada | CDIC | $100,000 | $100,000 |
| Achieva Financial | DGCM | No limit | No limit |
| Alterna Savings Shares one limit with Tandia Financial Credit Union | FSRA | $250,000 | No limit |
| ATB Financial | Government of Alberta | No limit | No limit |
| Beem Credit Union | CUDIC | No limit | No limit |
| DUCA Credit Union | FSRA | $250,000 | No limit |
| FirstOntario Credit Union Shares one limit with Saven Financial | FSRA | $250,000 | No limit |
| Kindred Credit Union | FSRA | $250,000 | No limit |
| Libro Credit Union | FSRA | $250,000 | No limit |
| Meridian Credit Union | FSRA | $250,000 | No limit |
| Northern Credit Union | FSRA | $250,000 | No limit |
| Saven Financial Shares one limit with FirstOntario Credit Union | FSRA | $250,000 | No limit |
| Servus Credit Union | CUDGC | No limit | No limit |
| Tandia Financial Credit Union Shares one limit with Alterna Savings | FSRA | $250,000 | No limit |
| Vancity | CUDIC | No limit | No limit |
Coverage rules are set by each regulator and change from time to time. They are not part of our monthly rate check, so confirm the current limits with CDIC, DGCM, FSRA, CUDIC, the Government of Alberta and CUDGC before relying on them.
Common questions about CDIC coverage
