Deposits Covered
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classes of deposits covered
Scope of cover
All types of deposits received by a contributory institution in its usual course of business are protected and include without being limited to the following
- time/fixed deposits;
- demand deposits;
- savings deposits;
- interest accrued and/or payable on all deposits;
- shares in a building society (class B&C shares), other than capital shares, deferred shares or preference shares; and
- any other liability or financial instrument as may be specified by the Corporation from time to time by notice in the Government Gazette.
Qualifying deposits in individual, corporate and trust accounts in insured institutions are covered by the Deposit Protection Scheme.