February 27, 2021 Pixabay SDIC — our fail-safe in case financial institutions in Singapore collapse. Here’s what you need to know about the company that insures your deposits up to $75,000. Keeping our hard earned savings in a bank account is one of the safest ways we know to store our cash. Not only do we earn interest on our money, but we also trust that the banks have the financial capabilities to safekeep our money and allow us to withdraw them when the time arises. However, no company is fail-proof, especially with the access consumers have to alternative digital platforms. This is where the role of the Singapore Deposit Insurance Corporation (SDIC) comes into play, helping to alleviate fears consumers might have when it comes to leaving their money with banks, finance companies, or insurance companies.