Schedule 1
Insured deposit and Maximum DI Coverage
of Deposit Insurance and Policy Owners’ Protection Schemes Act 2011
FIRST SCHEDULESections 2(1) and 90(1)Insured deposit and Maximum DI Coverage In this Act —“insured deposit” means —
any of the following deposits in Singapore dollars, placed with any DI Scheme member in any of its branches in Singapore:
a deposit in a savings account;
a deposit in a fixed deposit account;
a deposit in a current account,including any accrued interest that has been credited to the relevant accounts for each of the deposits specified in sub-paragraphs (i), (ii) and (iii), regardless of whether such a deposit is pledged, charged or secured as collateral or whether such a deposit or part thereof is set aside in respect of any debt owing to the DI Scheme member and cannot be withdrawn until and unless the debt is repaid;
any moneys denominated in Singapore dollars placed with any DI Scheme member under the CPFIS, CPFRS or the Supplementary Retirement Scheme; and
such product as may be prescribed by the Authority,but does not include any structured deposit as defined in the Financial Advisers (Structured Deposits — Prescribed Investment Product and Exemption) Regulations;“Maximum DI Coverage” means the amount of $75,000.[26/2016; 31/2018]