CDIC coverage planner

Three dimensions multiply together. Per member institution: each CDIC member bank is insured separately. Per category: at each member, there are nine separately insured categories — deposits in one name, joint deposits, TFSA, RRSP, RRIF, FHSA, RESP, RDSP, and deposits in trust — each covered to $100,000 of principal plus interest. So one person at one bank can have far more than $100,000 fully insured, and a couple using joint sets and registered accounts can insure well into seven figures across two or three institutions. The planner above does this arithmetic for your actual balances.

No — they combine. Simplii is a trade name under CIBC’s CDIC membership, and CDIC is explicit that trade names add no extra coverage. The same applies to Motive Financial deposits, which now combine with National Bank. The famous exception: Tangerine Bank is its own CDIC member, separate from its parent Scotiabank — so Tangerine + Scotiabank genuinely is two coverage buckets. The planner’s institution list encodes these groupings so you can’t double-count by accident.

Per owner set, not per person — CDIC’s wording: “a set of owners (e.g., a couple) will receive $100,000 for all their joint accounts combined.” Two joint accounts you hold with your spouse at one bank share a single $100,000. But a joint account with a different combination of owners — say, you and an adult child — is a new set with its own $100,000. That makes distinct owner sets a legitimate structuring tool, with the obvious caveat that a joint owner legally owns the money.

Yes to both — two common myths, both out of date since April 2020. Foreign-currency deposits are covered (your USD savings count toward the same category limits, converted), and GICs of any term are covered — the old 5-year cap is gone. What’s genuinely NOT covered: mutual funds, stocks, bonds, ETFs and crypto. Investments are protected differently (CIPF, against your broker failing — not against losing value).

In four provinces the guarantee is stronger on paper: BC, Alberta, Saskatchewan and Manitoba credit unions carry a provincial guarantee of 100% of deposits with no dollar limit. Ontario’s FSRA covers $250,000 on non-registered deposits and is unlimited on registered accounts — so an Ontario credit union TFSA or RRSP has no coverage ceiling at all. Quebec’s AMF works like CDIC at $100,000 per category. These are provincial corporations rather than the federal CDIC, but they are statutory guarantees, not marketing claims. The planner applies the right regime automatically.

In rough order of convenience: use a category you haven’t used at the same institution (TFSA, RRSP, RRIF, joint each carry their own $100,000); open a second member institution — Tangerine-vs-parent pairs, or a challenger like EQ (our HISA and GIC tables are sorted by rate); route registered cash to an Ontario credit union (unlimited) or any amount to a Manitoba/BC/AB/SK credit union; and for National Bank clients, GICs issued under National Bank Trust or Natcan Trust are separate members with their own limits. The right structure usually costs nothing but an afternoon.

All rules were verified directly at cdic.ca and each provincial insurer’s site on June 10, 2026. One thing to watch: Finance Canada consulted in 2025 on raising the CDIC limit to $150,000 (and making registered coverage unlimited) — no decision has been announced, and this planner uses the in-force $100,000. We’ll update the engine the day that changes; see what’s new in 2026.