The Canadian Deposit Insurance Corporation (CDIC) protects the money you deposit in National Bank, in case the bank declares bankruptcy. Check out the CDIC pamphlet [PDF] for details.
Maximum basic coverage:
per depositor per category
categories of deposits are covered
Eligible deposits held in one name are covered by CDIC up to $100,000.
Insured products
Eligible deposits held in trust are covered by CDIC up to $100,000 per beneficiary.
Insured products
Eligible deposits held in an RRIF are covered by CDIC up to $100,000.
Insured products
Eligible deposits put aside to pay realty taxes on mortgaged properties are covered by CDIC up to $100,000.
Insured products
Eligible deposits held in the names of two or more people are covered by CDIC up to $100,000.
Insured products
Eligible deposits held in an RRSP are covered by CDIC up to $100,000.
Insured products
Eligible deposits held in a TFSA are covered by CDIC up to $100,000.
Insured products
Want to know how much of your deposit is insured? Use our deposit insurance calculator.
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Legal disclaimers
Eligible deposits include chequing accounts, savings accounts and guaranteed investment certificates (GICs) that are repayable no later than five years after the date of deposit.
The following deposits are not covered under the Canada Deposit Insurance Corporation Act: USD accounts or accounts in other currencies, shares, bonds or mutual funds, term deposits with a term greater than five years, treasury bills and debentures, principal-protected notes and deposits at non-CDIC member institutions.
For more information about deposit insurance, go to the CDIC website.