deposit insurance

  • categories: Deposits

    If you own a house or a car, there’s a good chance you also own insurance. Saving and investment accounts issued by banks also come with insurance, except it doesn’t cost you any money. This insurance is known as CDIC coverage. It is issued by a federal Crown corporation called the Canada Deposit Insurance Corporation.

  • October
  • June
  • May
  • categories: Deposits

    When you deposit money in a savings account, chequing account, or GIC, your money is usually protected by the Canada Deposit Insurance Corporation (CDIC).

  • March
  • January
  • April
  • categories: Deposits

    The first word in a GIC is “guaranteed”. In other words, the financial institution that issues it promises to pay you back your principal, plus interest. It’s a legal liability for them, and it’s written into … Read More