How safe is it to keep more than $100,000 in one savings account?

A couple in their late twenties is piling up a down payment, already well past six figures in one account and aiming higher so they can put a solid amount down on a Toronto home. Their worry is a sensible one: is it safe to hold that much in a single savings account? Allan uses the question to explain how deposit protection works in Canada and why the often-cited coverage limit matters, along with the simple steps savers can take, such as spreading money across institutions or account types, to keep larger balances within protected bounds. He also touches on the trade-off between safety and what the money earns while it waits. The piece is well suited to anyone parking a big short-term sum, whether for a home, a tax bill, or a near-term goal, who wants to be sure their cash is genuinely secure.