DID YOU KNOW...?
The DIC calculates the insured amount on both principal and interest amounts.
Only banks licensed by the Central Bank and that have Bahamian Dollar business are members of the DIC.
Opening several accounts in different branches of the same bank or at the same branch will not increase your insurance deposit payout.
Deposits held at different member institutions are separately insured.
Deposit insurance is available for eligible deposits, up to a maximum of B$50,000.
Deposits held in the name of a sole proprietor are insured in the single account category, and therefore aggregated with the personal deposits of the business owner, when determining insurance cover.
Loans will be deducted from monies owing to you in calculating insurance cover.
Money held in a joint savings account (e.g. husband and wife) are insured separately from money held in saving accounts individually owned.
About DIC
Our Mission
To provide deposit insurance protection and support for Bahamian Dollar depositors, and thereby contribute to the stability of the domestic financial sector by minimizing the risk of loss to depositors.
Vision
To be an effective and prudent deposit insurer, achieving full compliance with international best practices for effective deposit insurance systems.
Values
- Excellence - We aim to achieve the highest standards of quality and service in the execution of our duties.
- Integrity - We honour our commitments and accept responsibility for our actions.
- Reliability – We commit to meeting our obligations in a timely and efficient manner.
- Communication – Our communications with stakeholders will be effective and transparent.