CDIC

Canada Deposit Insurance Corporation (CDIC) is a federal Crown Corporation that insures deposits in the unlikely event that a member institution issuing a GIC or other forms of bank deposit fails or becomes insolvent. CDIC covers only the deposits of its members. For a complete list of members visit the CDIC website (www.cdic.ca).

The amount of insurance provided is limited to $100,000 per account per institution. Insurance does not protect against fraud, theft, or scams, and there are some savings products that are not covered. Also insurance is not provided for GICs with terms in excess of five years.

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Best GIC Rates

1 Year 1.05%
2 Year 1.35%
3 Year 1.85%
4 Year 2.00%
5 Year 2.05%

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