Coverage

The deposit insurance system provides a limited insurance coverage, as a best practice.

In general, a deposit means a sum of money paid by a depositor to a bank on the condition that it is to be repaid in full by the bank, with or without interest, either on demand or at an agreed time, under the legal and contractual conditions applicable.

Typical deposit products of the banks that are insured by DIFK are sight deposits (current accounts), savings deposits and time deposits.

Currently, depositors are insured, per member bank, up to the insured amount of:

EUR 4,000

Over the next five years, the limit of the insured amount will gradually increase, as following:

Year, effective from January 1stLimit of the insured amount (EUR)
20185,000

A depositor shall have its deposit accounts insured in all banks that are member of DIFK up to the maximum compensation amount of 4,000 EUR. For example: An insured depositor having accounts in two member banks (bank A and bank B) has its deposits insured in those two banks, respectively in bank A: up to 4,000 EUR; and in bank B: up to 4,000 EUR.