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Canada Deposit Insurance Corporation (CDIC)

All of our Canadian dollar savings products, like our Investment Savings Account (ISA), Guaranteed Investments (GICs), Business Investment Savings Accounts, Tax-Free Savings Account (TFSA) and RSP Accounts are eligible for Canada Deposit Insurance Corporation (CDIC) insurance.

Maximize your coverage

The maximum protection for eligible deposits at ING DIRECT 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).

Too keep things simple, below are some examples of how multiple account registrations can help maximize your coverage:

Jane is an ING DIRECT Client and has the following single registrations with us:

Name RegistrationDeposit TypeAccount Balance
JaneInvestment Savings Account$75,000
JaneGuaranteed Investment (GIC)$25,000
JaneRSP Investment Savings Account$100,000
JaneTax-Free Investment 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 Investment 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 ING DIRECT Clients with the following single accounts, RSP accounts as well as joint accounts with us:

Name RegistrationDeposit TypeAccount Balance
MaryInvestment Savings Account$100,000
MaryRSP Investment Savings Account$100,000
MaryTax-Free Investment Savings Account$100,000
JohnTax-Free Guaranteed Investment (GIC)$100,000
JohnGuaranteed Investment (GIC)$100,000
JohnRSP Guaranteed Investment (GIC)$100,000
Mary & JohnInvestment 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 1-800 ING DIRECT.

Deposit register

ING Bank of Canada - 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:

  1. ING DIRECT Investment Savings Account
  2. ING DIRECT RSP Investment Savings Account
  3. ING DIRECT Tax-Free Investment Savings Account
  4. ING DIRECT Children's Savings Account
  5. ING DIRECT Business Investment Savings Account
  6. ING DIRECT Guaranteed Investment
  7. ING DIRECT RSP Guaranteed Investment
  8. ING DIRECT Tax-Free Guaranteed Investment
  9. ING DIRECT Business Guaranteed Investment
  10. ING DIRECT THRiVE Chequing™ Account
  11. ING DIRECT RIF Investment Savings Account
  12. ING DIRECT RIF Guaranteed Investment
  13. ING DIRECT Mortgage Tax Account

For further information, visit the Canada Deposit Insurance Corporation website or call: 1-800-461-CDIC (2342).

ING DIRECT 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 ING DIRECT card, you should feel confident that your money is in good hands.

™ THRiVE Chequing is a trademark of ING Bank of Canada.