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3389 Steeles Avenue East
Toronto, Ontario
M2H 0A1
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.
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.
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 in Canadian funds, are payable in Canada, and have a term of no more than 5 years:
Tangerine Savings Account
Tangerine RSP Savings Account
Tangerine Tax-Free Savings Account
Tangerine Children's Savings Account
Tangerine Business Savings Account
Tangerine Guaranteed Investment
Tangerine RSP Guaranteed Investment
Tangerine Tax-Free Guaranteed Investment
Tangerine Business Guaranteed Investment
Tangerine Chequing Account
Tangerine RIF Investment Savings Account
Tangerine RIF Guaranteed Investment
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.