Glossary · regulatory

SDIC

Also known as: Singapore Deposit Insurance Corporation

Definition: The Singapore Deposit Insurance Corporation (SDIC) operates the deposit-insurance scheme covering Singapore-dollar deposits at MAS-licensed banks and finance companies. Maximum coverage S$100,000 per depositor per scheme member.

SDIC coverage matters in wealth-management planning because deposits above S$100k at any single bank are unsecured bank credit exposure. UHNW clients with substantial cash positions typically spread across multiple banks to maximise insured coverage, though at HNW / UHNW scales the credit risk of any major SG bank failing is regarded as minimal. SDIC also runs the Policy Owners' Protection Scheme covering life-insurance and general-insurance policies.

Source: SDIC

Fixed deposit

Looking for the full picture? See our deep-dive pages on Singapore private banking, family office Singapore, and the full glossary index.

SDIC

Related