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.
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 in Canadian funds, are payable in Canada, and have a term of no more than 5 years:
