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Module 2 · Topic 4Who Is Protected by KDIC?
Depositors at Member Institutions
Any person or entity with an eligible deposit at a KDIC member institution is protected — up to the KES 500,000 limit. This includes:
- Individual Kenyan citizens
- Foreign nationals with accounts at Kenyan member institutions
- Companies, associations, and cooperatives
- Minor accounts held in trust by a parent or guardian
- Joint account holders (coverage applies to each holder's share)
KDIC protection is not limited to salaried workers or large account holders — it protects every depositor at a member institution, from a small savings account to a business current account.
What About Foreign Currency Accounts?
Foreign currency deposits at KDIC member institutions are covered. The deposit value is converted to Kenya Shillings at the prevailing Central Bank of Kenya exchange rate at the time the institution fails.