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Canada Deposit Insurance Corporation (CDIC)

Protecting Your Deposits


Canada Deposit Insurance Corporation

What is the CDIC?

TD Bank and its Canadian deposit-issuing subsidiaries are proud members of the Canada Deposit Insurance Corporation (CDIC). CDIC is a federal crown corporation – a part of the government of Canada – created by Parliament in 1967 to protect money on deposit in the event a member institution becomes insolvent. CDIC protects eligible deposits to a maximum of $100,000 per depositor and per insured category.

Coverage is free and automatic; customers do not have to apply for it. If a member institution failed, CDIC would reimburse insured deposits (including interest) up to $100,000 per insured category.

To be eligible for deposit insurance, a deposit must be:

  • payable in Canada
  • in Canadian currency
  • have a term of 5 years or less

Eligible deposits include:

  • Savings accounts
  • Chequing accounts
  • Term deposits /guaranteed investment certificates (GICs) (with original terms to maturity of five years or less)
  • Money orders and bank drafts issued by a CDIC member institution
  • Certified cheques

The following TD Bank Group entities are CDIC member institutions

  • The Toronto-Dominion Bank
  • TD Mortgage Corporation
  • TD Pacific Mortgage Corporation
  • The Canada Trust Company

These entities operate under the trade name TD Canada Trust.

Further Information about CDIC

Deposit Protection