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Module 3 · Topic 1Eligible Deposits
What KDIC Covers
Not all funds held at a bank are automatically protected by KDIC. Only deposits that meet the definition of an 'insured deposit' under the KDI Act are eligible. The following types of deposits are covered:
- Current (demand) accounts
- Savings accounts
- Fixed deposit and call accounts
- Foreign currency accounts (converted to KES at CBK rate)
- Joint accounts (each holder's share covered separately)
- Accounts held in trust for minors
- Accounts held by individuals, companies, associations, and cooperatives
The common thread: eligible deposits are money placed with a bank for safekeeping or saving — not investments or financial products.
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