Canada Deposit Insurance Corporation (CDIC)

Tangerine Bank is a subsidiary of Bank of Nova Scotia and a CDIC member in its own right. Eligible deposits of up to $100,000 per category are protected separately from deposits at Bank of Nova Scotia.

All of our Canadian 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 Canada Deposit Insurance Corporation (CDIC) insurance.


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:

Name Registration Deposit Type Account Balance
Jane Tangerine Savings Account $75,000
Jane Guaranteed Investment (GIC) $25,000
Jane RSP Savings Account $100,000
Jane Tax-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:

Name Registration Deposit Type Account Balance
Mary Tangerine Savings Account $100,000
Mary RSP Savings Account $100,000
Mary Tax-Free Savings Account $100,000
John Tax-Free Guaranteed Investment (GIC) $100,000
John Guaranteed Investment (GIC) $100,000
John RSP Guaranteed Investment $100,000
Mary & John Tangerine 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 Bank – Member of the Canada Deposit Insurance Corporation

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

  1. Tangerine Savings Account

  2. Tangerine RSP Savings Account

  3. Tangerine Tax-Free Savings Account

  4. Tangerine Children's Savings Account

  5. Tangerine Business Savings Account

  6. Tangerine Guaranteed Investment

  7. Tangerine RSP Guaranteed Investment

  8. Tangerine Tax-Free Guaranteed Investment

  9. Tangerine Business Guaranteed Investment

  10. Tangerine Chequing Account

  11. Tangerine RIF Investment Savings Account

  12. Tangerine RIF Guaranteed Investment

  13. Tangerine Mortgage Tax Account

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.