The CDIC limit is moving from $100,000 to $250,000 under the federal budget, an increase many have urged for years to protect consumers.

The CDIC limit is moving from $100,000 to $250,000 under the federal budget, an increase many have urged for years to protect consumers.

The CDIC limit is moving from $100,000 to $250,000 under the federal budget, an increase many have urged for years to protect consumers.

The Canadian federal government has proposed raising the deposit insurance limit under the Canada Deposit Insurance Corporation (CDIC) to $250,000, marking the first increase in over 20 years. The measure, outlined in the 2026 budget, aims to modernize the deposit insurance framework, which currently protects up to $100,000 per depositor. Since 2005, the limit has remained unchanged, despite inflation eroding its real value. The proposal follows recommendations from the Bank and Trust Companies Association, which urged doubling coverage to $200,000 in 2023. Canada currently has the lowest deposit insurance level among G7 nations, with approximately 65% of deposits at the country's top six banks being uninsured, according to DBRS Morningstar. The government's proposal includes a periodic review of the insurance framework every 10 years to ensure it remains aligned with economic conditions. It also aims to align Canada's limit with the U.S. standard and some Canadian provinces. Additionally, the plan introduces temporary high balances for life events like selling a home and removes deposit insurance limits for eligible registered and tax-free accounts. The CDIC, which has 85 members as reported in its 2025 annual report, would see these changes implemented through legislative amendments. The proposal reflects a response to concerns about the adequacy of current coverage, particularly as the real value of $100,000 has diminished since 2005. The government emphasized that the changes would provide better protection for non-retail depositors and support evidence-based policy development through improved data access.

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Find CDIC's 2026 Annual Report, which highlights CDIC's strategic direction and achievements for the year ended March 31, 2026.

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