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First, the law today, clearly: CDIC deposit insurance is still $100,000 per category at a member institution. That has not changed. What the November 5, 2026 federal budget proposes is to raise it — to $250,000 for regular deposits, and to remove the limit entirely for deposits in registered and tax-free accounts. The proposal is announced — it requires a CDIC Act amendment, and there is no effective date yet.
What the budget proposes
- Regular deposits: coverage rises from $100,000 to $250,000 per category.
- Registered and tax-free account deposits — RRSPs, TFSAs and other registered accounts: the coverage limit would be removed entirely.
- Temporary high-balance coverage for life events, such as the proceeds of a home sale sitting in an account.
What it would mean in practice
For most people, the current $100,000 per category already covers their balances, and nothing changes. Where the proposal would matter is for large GIC and high-interest savings balances held at a single institution, and for house-sale proceeds sitting in an account between closing and the next purchase — money that today can sit above the insured limit for weeks.
Don’t move money based on a proposal
Because this is a proposal with no effective date, don’t move money based on it. The $100,000 limit is the law today. If and when the CDIC Act is amended, the higher limits will apply from whatever date the legislation sets — we will update this page when that happens.
General information only — not financial advice.