Question about GIC

[爱米]

听说是GIC 不保险的。如果银行倒闭，GIC 就没了？

 

[dkwan]

GIC is just a name, not all GIC from CDIC insured financial insitution(F.I.) are CDIC insured.

Each GIC product is different and F.I should have information for each product they are insured under CDIC.

Just reminder, Mutual fund is not insured anyway.

 

[爱米]

Thanks. I went to CDIC website and get the info I want to know.
It's limit $100,000 combined
.savings and chequing accounts
.GICs and other deposits that mature in 5 years or less