KDIC is mandated to provide insurance cover for deposit accounts up to a maximum of Kshs. 100,000.00 per depositor of a member institution. Where a depositor has more than one account in an institution, all the accounts are consolidated and paid up to a maximum insured sum of Kshs. 100,000.00.
Accounts covered include:
- Current Accounts
- Savings Accounts
- Fixed Deposit Accounts
- Foreign Currency Deposits
How to claim for your deposits
Depositors are required to fill a proof of debt claim form which can be accessed from the KDIC website.
- Duration of payment is two years from date of commencement of the payment.
- Liabilities owed to the institution shall be offset up to the extent of the insured deposit.
How a depositor recovers deposits in excess of the insured amount of KShs.100, 000
A deposit in excess of Kshs. 100,000.00 is paid as liquidation dividend after the liquidator has recovered sufficient funds from the sale of the institution’s assets and recovery of debts.