Corporation for Deposit Insurance

The Corporation for Deposit Insurance (CODI) is South Africa’s Deposit Insurance Scheme (DIS), created and mandated by law to protect qualifying bank depositors in the unlikely event of their bank failing. CODI is a subsidiary of the South African Reserve Bank (SARB) and became operational on 1 April 2024.







While South Africa has a resilient financial sector, deposit insurance brings further confidence and stability to the sector. In the past, when a bank failed, the government used taxpayers’ money to compensate affected depositors on a case-by-case basis. With deposit insurance, qualifying depositors will be given reasonable access to their covered deposits should their bank fail through CODI’s use of the DIF. Approximately 100 countries in the world have a DIS similar to the one South Africa has adopted.




• Fixed products
• Notice Products
• Savings products
• Tax-free Savings
• Islamic Murabaha products
• Transactional products
• Current account products
• Islamic Qard and Wadjáh products


  • Individual depositors of all ages
  • Foreign retail/ individual depositors
  • Sole proprietors
  • Legally incapacitated depositors
  • Deceased depositors
  • Non-profit depositors/ charities
  • Religious entities
  • Trade unions
  • Consumer associations

  • Banks
  • Government institutions
  • Private financial sector institutions

  • Fixed products
  • Notice Products
  • Savings products
  • Tax-free Savings
  • Islamic Murabaha products
  • Transactional products
  • Current account products
  • Islamic Qard and Wadjáh products

  • Deposits by banks
  • Electronic money products
  • Non-Bank financial sector deposits such as money unit trusts (money market and non-money), pension funds, fund managers, insurers, and private sector institutions.
  • Deposits by Government institutions
  • Investment accounts where capital is not guaranteed and not repayable at par, such as unit trusts and shares.
  • Holdings of commodities




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