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Deposit Insurance is a mechanism that provides protection to depositors of commercial banks and other such deposit taking institutions upon the failure of these institutions.

Deposit Insurance Coverage Increased from TT$50,000 to TT$75,000

Pursuant to Legal Notice No. 237 of 2007, the deposit insurance coverage limit has been increased from $50,000 to $75,000 per depositor in each capacity and right in each member institution licensed under the Financial Institutions Act 2008.

Please note that deposit insurance continues to remain applicable only to those instruments that are covered under the Central Bank and Financial Institutions (Non-Banking) (Amendment) Act, 1986 (Act No. 2 of 1986) namely, savings accounts, chequeing accounts and time deposit accounts.

Currently there are 24 Member institutions of the Deposit Insurance Fund.

 

What is Deposit Insurance

  

Coverage

Learn about what is meant by Deposit Insurance, the rationale behind deposit insurance in Trinidad and Tobago.

 

Understand the extent of deposit insurance coverage in Trinidad and Tobago and how it is calculated.

Member Institutions

 

Making Claims

View the list of member institutions of the DIC.

 

In accordance with the DIC supporting legislation, claims must be filed with the DIC in all cases requesting the payment of deposit insurance benefits.







 

© 2005 The Deposit Insurance Corporation of Trinidad and Tobago