Deposit Insurance Corporation

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

Legal Framework

The Deposit Insurance Corporation was established under the Protection of Depositors Act, 1999 and the Protection of Depositors Bye-Laws, 1999, issued there under.

These documents have been re-produced for information purposes only. Official copies should be obtained from the Government Publications Office.

What is Deposit Insurance?

In simple terms, deposit insurance provides peace of mind in the unlikely event your bank should experience difficulty and be forced to close. Read on for details on the who and what of the coverage we provide.

Is Your Bank A Member?

Need to know if your bank is a member of the program, and that your funds are insured? Our up-to-date list of member banks will answer your questions.

Got Questions?

Visit our
Frequently Asked Questions
pages for the answers!

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