Are TFSAs, RRSPs and FHSAs covered by CDIC?
Yes, for eligible deposits. At a CDIC member, each plan type — RRSP, RRIF, TFSA, RESP, RDSP and FHSA — is its own category, insured up to $100,000 separately from your non-registered deposits. Only cash savings, GICs and term deposits count; mutual funds, stocks, bonds and ETFs are not covered. Two TFSAs at one member share one limit.
Separate categories at CDIC members
At a CDIC member, eligible deposits in each of these plan types are insured up to $100,000, separately from each other and from your non-registered deposits: RRSP, RRIF, TFSA, RESP, RDSP and FHSA.
Only deposits count
Inside a registered plan, CDIC covers eligible deposits — cash savings, GICs and other term deposits. Investments held in the plan, such as mutual funds, stocks, bonds or ETFs, are not covered by CDIC.
At provincial credit unions
| Province | Registered deposits |
|---|---|
| British Columbia, Alberta, Saskatchewan, Manitoba | Unlimited, like non-registered deposits |
| Ontario | Unlimited for insurable deposits in RRSPs, RRIFs, TFSAs, RESPs, RDSPs, LIRAs, LIFs and FHSAs (FSRA) |
| Prince Edward Island | Unlimited for RRSPs, RRIFs, RESPs, RDSPs, TFSAs and FHSAs |
| New Brunswick | Up to $250,000 per plan type |
| Nova Scotia | Each RRSP, RRIF, TFSA and RESP contract to $250,000; RDSP and FHSA treatment not stated |
| Newfoundland and Labrador | $250,000 for registered savings plans; FHSAs insurable since April 2023 |
| Quebec | $100,000 per registered-plan category (AMF) |
Full details and sources by province: credit union deposit insurance.
Do I get $100,000 for each TFSA, or for all of them?
For all of them, at one member. The limit is per category, per member institution, so two TFSAs at the same CDIC member share one $100,000 TFSA limit. Some plan types are also grouped together. CDIC adds LIRAs, LRSPs and RLSPs to your regular RRSP deposits, and LIFs, LRIFs, RLIFs and PRIFs to your RRIF deposits. A locked-in account is not a separate bucket.
| Plan you hold | CDIC category it counts in |
|---|---|
| RRSP, spousal RRSP in your name, LIRA, LRSP, RLSP | RRSP |
| RRIF, LIF, LRIF, RLIF, PRIF | RRIF |
| TFSA | TFSA |
| FHSA | FHSA |
| RESP | RESP |
| RDSP | RDSP |
Whose limit does a spousal RRSP use?
The owner’s. CDIC looks at whose name the plan is in, not who contributed. If your spouse puts money into a spousal RRSP in your name, those deposits count toward your RRSP limit at that member, together with any RRSP you opened yourself.
Worked example: one saver, one bank
An illustration with round numbers. Maya keeps all of this at one CDIC member:
| What she holds | Balance | Insured by CDIC | Not insured |
|---|---|---|---|
| Savings account in her name | $60,000 | $60,000 | $0 |
| TFSA GIC | $95,000 | $95,000 | $0 |
| Her own RRSP GICs | $70,000 | Shares the RRSP limit | See next row |
| Spousal RRSP GIC in her name | $50,000 | RRSP total $120,000: $100,000 insured | $20,000 |
| FHSA savings | $30,000 | $30,000 | $0 |
| ETF inside her TFSA | $25,000 | $0 — not a deposit | $25,000 |
Maya has $305,000 in deposits, and $285,000 of it is insured. The $20,000 over the RRSP limit is uninsured, and the ETF was never covered. One fix: when some RRSP GICs mature, move $20,000 to a different CDIC member by direct transfer. Try your own numbers in the deposit insurance calculator.
Are GICs bought through my brokerage account covered?
They can be. CDIC says a GIC bought through a broker or adviser is eligible if it was issued by a CDIC member, even when you buy it through a firm that is not a member. What counts is the issuer, not the platform.
- GIC in your name: it is added to your other deposits in the same category at the issuing member. An RRSP GIC from Bank X bought through a broker and one bought directly at Bank X share one limit.
- GIC in the broker’s name for you (a nominee GIC): CDIC treats it as a deposit held in trust. If the broker follows CDIC’s disclosure rules, it is protected separately up to $100,000 per beneficiary.
CDIC says HISA exchange-traded funds (also called money market ETFs) and HISA mutual funds are not protected, even though they hold cash at banks. A high-interest savings account held at a member can be eligible. A fund that invests in those accounts is not.
What if my bank merges with another CDIC member?
In recent amalgamations, CDIC said deposits held at each bank before the merger stayed insured separately for two years, or until maturity for GICs and other term deposits. Separate coverage drops as you withdraw money or as GICs mature. More in bank mergers in Canada.
What happens to registered deposits if a bank fails?
They take longer than regular deposits. CDIC can’t pay registered deposits straight to you, because that could create tax. You choose a new institution that offers the same plan type, and it arranges the transfer with the court-appointed liquidator. CDIC works with the Canada Revenue Agency and says it will contact these depositors directly.
Common mistakes
- Opening a second TFSA or RRSP at the same bank to “double” coverage. The same plan type at the same member shares one limit.
- Forgetting that interest counts. The $100,000 includes principal and interest, so a GIC that starts just under the limit can grow past it.
- Treating a LIRA or LIF as its own category. It joins your RRSP or RRIF deposits.
- Assuming everything in a “savings” TFSA is insured. Check whether it holds deposits or funds.
- Forgetting brands. Two names can be one CDIC member — check the member list.
- Cashing out a plan to move it. Use a direct transfer instead (see below).
Questions to ask before you buy a GIC inside a plan
- Which legal institution issues this GIC, and is it on the CDIC member list?
- Is it held in my name, or in the broker’s name for me?
- Do I already hold deposits in this plan type at the same institution or one of its brands?
- Will interest push my total in this category over $100,000 before it matures?
- If it’s a credit union, which province insures it, and what is the limit for registered plans?
Moving a registered plan
Transfer registered plans directly between institutions — the receiving institution usually starts the paperwork. Withdrawing and re-depositing yourself can create tax or use up contribution room. GICs inside the plan may need to mature first. Budget 2025 said the government would propose rules to ban investment and registered account transfer fees; check whether they are in force before you move.
Splitting money across plan types at one bank can add protection, but only when it fits your tax plan. Don’t open a plan just for insurance.
A worked example
Worked example — registered plans and savings at one CDIC member
| Deposit | Amount | Protected | Not protected |
|---|---|---|---|
| Member A: RRSP | $120,000 | $100,000 | $20,000 |
| Member A: TFSA | $95,000 | $95,000 | $0 |
| Member A: FHSA | $40,000 | $40,000 | $0 |
| Member A: Own name | $100,000 | $100,000 | $0 |
Total $355,000; protected $335,000; not protected $20,000. Try your own deposits in the deposit safety tool.
What this means for you
Registered plans can add protection at one institution, but only by plan type, and only for deposits. Before you add to a plan, run through these checks.
- Count by plan type, not by account. Two TFSAs at the same member share one $100,000 limit. A LIRA joins your RRSP total, and a LIF joins your RRIF total.
- Count a spousal RRSP as the owner’s. If it is in your name, it adds to your own RRSP limit at that member, whoever contributed.
- Check what the plan holds. Savings, GICs and other term deposits can be covered. ETFs, mutual funds, stocks and bonds are not — including HISA ETFs and HISA mutual funds.
- Check who issued a brokerage GIC. It can be covered if a CDIC member issued it. In your name, it adds to your deposits in that category at the issuer; in the broker’s name for you, it is treated as a trust deposit.
- Leave room for interest. The limit includes interest, so a GIC that starts just under $100,000 can grow past it.
- At a credit union, check your province. Several insure registered deposits without limit; Quebec’s limit is $100,000 per registered-plan category.
If you need to move money to fix a limit, use a direct transfer started by the receiving institution rather than withdrawing it yourself, and let GICs mature first where needed. Check whether the proposed ban on registered-account transfer fees is in force before you move. Splitting across plan types only helps when it fits your tax plan, so don’t open a plan just for the insurance. Test your mix in the deposit insurance calculator.
Frequently asked questions
Is my TFSA covered by CDIC?
Eligible deposits in a TFSA at a CDIC member — savings and GICs — are covered up to $100,000, separately from your other categories. Investments in the TFSA are not.
Is an FHSA covered separately from a TFSA?
Yes. FHSAs are their own CDIC category.
Are RRSPs at credit unions insured?
Yes, by the provincial insurer. Several provinces insure registered deposits without limit; check your province.
Is a LIRA insured separately from my RRSP?
No. CDIC adds LIRA, LRSP and RLSP deposits to your regular RRSP deposits at the same member, under one $100,000 limit.
Are HISA ETFs covered by CDIC?
No. CDIC says HISA exchange-traded funds and HISA mutual funds are not protected. A high-interest savings account held at a CDIC member can be eligible.
Is a GIC bought through a brokerage CDIC insured?
It can be, if a CDIC member issued it. A GIC in your name is combined with your other deposits in the same category at that member; a nominee GIC is treated as a trust deposit.
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