Skip to content

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, US, or foreign currency

Eligible deposits include:

  • Savings accounts
  • Chequing accounts
  • Term deposits/guaranteed investment certificates (GICs)
  • Money orders and bank drafts issued by a CDIC member institution
  • Certified cheques
  • Wires and drafts

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 Insurance

CDIC logo, Deposit protection des dépôts

Your deposits may be insurable by the Canada Deposit Insurance Corporation.

Learn more