Skip to main content Skip to chat

CDIC

Tangerine is a trade name of Tangerine Bank, a wholly-owned subsidiary of The Bank of Nova Scotia and a member of the CDIC in its own right.

Canada Deposit Insurance Corporation (CDIC)

Tangerine Bank is a wholly-owned subsidiary of The Bank of Nova Scotia and a member of the CDIC in its own right.

All of our Canadian and US dollar savings products, like our Tangerine Savings Account, Guaranteed Investments (GICs), Business Savings Accounts, Tax-Free Savings Account (TFSA) and RSP Accounts are eligible for CDIC.

Maximize your coverage

The maximum protection for eligible deposits at Tangerine is $100,000 per name registration (principal and interest combined).

In addition, CDIC provides separate insurance protection for joint deposits ($100,000 collectively, not per individual), deposits held in RRSPs ($100,000, principal and interest combined) and TFSA deposits ($100,000, principal and interest combined). To keep things simple, below are some examples of how multiple Account registrations can help maximize your coverage:

Jane is a Tangerine Client and has the following single registrations with us:

Example of Single Accounts

Name RegistrationDeposit TypeAccount Balance
JaneTangerine Savings Account$75,000
JaneGuaranteed Investment (GIC)$25,000
JaneRSP Savings Account$100,000
JaneTax-Free Savings Account$100,000
 Total Deposits$300,000
 Amount Insured$300,000

 

Single registration Accounts are eligible for CDIC insurance up to $100,000. Note that Jane's RSP Savings Account counts towards another $100,000 in coverage and her TFSA Account is also covered for $100,000. All of Jane's Accounts are insured with CDIC in this example.

John and Mary provide another example of Tangerine Clients with the following single Accounts, RSP Accounts as well as joint Accounts with us:

Example of Multiple Accounts

Name RegistrationDeposit TypeAccount Balance
MaryTangerine Savings Account$100,000
MaryRSP Savings Account$100,000
MaryTax-Free Savings Account$100,000
JohnTax-Free Guaranteed Investment (GIC)$100,000
JohnGuaranteed Investment (GIC)$100,000
JohnRSP Guaranteed Investment$100,000
Mary & JohnTangerine Savings Account$100,000
 Total Deposits$700,000
 Amount Insured$700,000

Single Account registrations are eligible for CDIC insurance up to $100,000. Joint Accounts are also covered for up to $100,000 (collectively with the same name registrations, not per individual). So, in this example, John and Mary have 100% insurance coverage with CDIC. All amounts include principal and interest.

To maximize your CDIC coverage, call us at 1-888-826-4374.

Deposit Register

Tangerine is a Trade name used by Tangerine Bank a Member of CDIC.

The following products are eligible for deposit insurance from CDIC, based on maximum coverage limitations from their brochure "Protecting Your Deposits", and provided they are payable in Canada:

    1. Tangerine Savings Account

    2. Tangerine US$ Savings Account

    3. Tangerine RSP Savings Account

    4. Tangerine Tax-Free Savings Account

    5. Tangerine Children's Savings Account

    6. Tangerine Business Savings Account

    7. Tangerine Business US$ Savings Account

    8. Tangerine Guaranteed Investment

    9. Tangerine US$ Guaranteed Investment

    10. Tangerine RSP Guaranteed Investment

    11. Tangerine Tax-Free Guaranteed Investment

    12. Tangerine Business Guaranteed Investment

    13. Tangerine Business US$ Guaranteed Investment

    14. Tangerine Chequing Account

    15. Tangerine RIF Investment Savings Account

    16. Tangerine RIF Guaranteed Investment

For further information, visit the Canada Deposit Insurance Corporation website or call: 1-800-461-CDIC (2342).

Tangerine is a member of the following industry associations: The Canadian Payments Association, Interac®, Association MasterCard® International, and Maestro International. Given the exacting standards of reliability and security required to carry names like Maestro and Interac® on our Tangerine card, you should feel confident that your money is in good hands.