Statutory deposit protection for fixed-term deposits and other bank deposits is regulated by EU directives across the European Union. These directives define minimum requirements for safeguarding deposits. In Germany, this is governed by the Deposit Guarantee Act ("Einlagensicherungsgesetz"). Other EU countries have their own implementation laws. Thanks to this legislation, deposits across the EU are protected up to €100,000 per person and bank.
To the fixed depositsStatutory deposit protection within the European Union reflects the political commitment to safeguard the deposits of individuals and businesses held at banks and financial institutions. This system is designed to shield European savers from the consequences of banking crises or financial instability. Under the legal deposit guarantee scheme, deposits such as funds in current accounts, overnight accounts, or fixed-term accounts are protected up to €100,000 per person and bank.
In addition to statutory protection, some institutions offer voluntary deposit insurance. This involves financial institutions—such as banks or credit unions—taking on additional safety measures voluntarily, often via deposit protection funds. These mechanisms can protect client deposits beyond the legally required threshold.
Another important component is the concept of a state guarantee, which, while not yet codified in German law, implies that the government would cover liabilities in the event of default or insolvency by a debtor.
Across Europe, the minimum standards for statutory deposit insurance have been progressively enhanced to strengthen investor protection throughout the European Union.
Official Name: Prudential Supervision and Resolution Authority (public authority of the French DGS) and Deposit Guarantee and Resolution Fund (fund of the French DGS)
Website: http://www.garantiedesdepots.fr
Address:
65, rue de la Victoire
75009 Paris, France
Email: [email protected]
Phone: +33 0158 18 38 08
Coverage Limit: €100,000 per person and bank
Fund Size: €7.45 billion (equals 0.50% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Guarantee Fund for Financial Services
Website: https://garantiefonds.belgium.be/nl
Address:
Federale Overheidsdienst Financiën, Administratie van de
Thesaurie, Administratie Betalingen, Garantiefonds,
Kunstlaan 30, 1040 Brussel, Belgium
Coverage Limit: €100,000 per person and bank
Fund Size: €5.39 billion (equals 1.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Deposits including accrued interest are legally protected up to 196,000 BGN per person and bank by the Bulgarian Deposit Insurance Fund. This amount is approximately equivalent to €100,000. In case of compensation, payments are made in Bulgarian Lev (BGN), which implies a currency/exchange rate risk.
Official Name: Bulgarian Deposit Insurance Fund
Website: http://dif.bg/en
Address:
27 Vladayska Street, Sofia 1606, Bulgaria
Email: [email protected]
Phone: +359 2 953 -1217 / -1318
Coverage Limit: 196,000 BGN per person and bank
Fund Size: 1.53 billion Bulgarian Lev (equals 1.00% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Garantiformuen
Website: https://fs.dk/
Address:
Sankt Annæ Plads 13, 2. tv
1250 Copenhagen, Denmark
Email: [email protected]
Coverage Limit: €100,000 per person and bank
Fund Size: 8.80 billion Danish Kroner (equals 0.80% of covered deposits)
Status as of: 13.12.2023
Source: European Banking Authority
Official Name: Entschädigungseinrichtung deutscher Banken GmbH
Additionally, depending on the bank, further protection may be provided through membership in the private deposit protection fund of the Association of German Banks (Bundesverband deutscher Banken e. V.).
Website: http://www.edb-banken.de
Address:
Entschädigungseinrichtung deutscher Banken
Burgstraße 28
10178 Berlin, Germany
Email: [email protected]
Phone: +49 30 59 00 11 960
Coverage Limit: €100,000 per person and bank
Fund Size: €5.32 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Guarantee Fund
Website: http://www.tf.ee/eng
Address:
Sakala 4
15030 Tallinn, Estonia
Email: [email protected]
Phone: +372 6680 501
Coverage Limit: €100,000 per person and bank
Fund Size: €327.79 million (equals 1.44% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Deposit Guarantee Fund
Website: https://rvv.fi/en/frontpage
Address:
Työpajankatu 13
P.O. Box 70
00581 Helsinki, Finland
Email: [email protected]
Phone: +358 295 253 500
Coverage Limit: €100,000 per person and bank
Fund Size: €1.51 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Hellenic Deposit and Investment Guarantee Fund
Website: https://www.teke.gr
Address:
6 Amerikis Str – 2nd Floor
10671 Athens, Greece
Email: [email protected]
Phone: +30 210 3639 933
Coverage Limit: €100,000 per person and bank
Fund Size: €1.75 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Banks: Bank & Clients, FirstSave €uro, Wyelands Bank
Withholding tax: No withholding tax is applied in the United Kingdom. Therefore, no proof of tax residency is required.
Official Name: Irish Deposit Guarantee Scheme
Website: https://www.depositguarantee.ie
Address:
Central Bank of Ireland
New Wapping Street
North Wall Quay
Dublin 1, Ireland
Email: [email protected]
Phone: +353 1890 777 777
Coverage Limit: €100,000 per person and bank
Fund Size: €911.97 million (equals 0.64% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Depositors' Guarantee Fund of Credit Cooperative Banks
Website: https://www.fgdcc.it/
Address:
Fondo di Garanzia dei Depositanti del Credito
Cooperativo
Via Massimo D’Azeglio, 33
00184 Rome, Italy
Phone: +39 06 92935629
Coverage Limit: €100,000 per person and bank
Fund Size: €842.32 million (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Croatian Deposit Insurance Agency
Website: https://www.haod.hr/en/
Address:
Jurišićeva 1/II
10000 Zagreb, Croatia
Email: [email protected]
Phone: +385 (1) 48 13 222
Coverage Limit: €100,000 per person and bank
Fund Size: €359.48 million (equals 2.50% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Deposit Guarantee Fund of Latvia
Website: http://www.fktk.lv/en
Address:
K. Valdemāra 2A
Rīga, LV-1050
Latvia
Email: [email protected]
Phone: +371 6702 2300
Coverage Limit: €100,000 per person and bank
Fund Size: €229.86 million (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Deposit and Investment Insurance
Website: http://www.iidraudimas.lt/en
Address:
Savanorių pr. 5
LT-03116 Vilnius, Lithuania
Email: [email protected]
Phone: +370 5 213 5657
Coverage Limit: €100,000 per person and bank
Fund Size: €313.15 million (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Deposit Guarantee Fund Luxembourg
Website: http://www.fgdl.lu/de
Address:
L-2860, Luxembourg
Email: [email protected]
Phone: +352 26 25 1-1
Coverage Limit: €100,000 per person and bank
Fund Size: €516.45 million (equals 1.60% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Depositor Compensation Scheme
Website: http://www.compensationschemes.org.mt
Address:
c/o Malta Financial Services Authority
Triq l-Imdina, Zone 1
Central Business District
Birkirkara, Malta CBD, 1010
Email: [email protected]
Phone: +356 2144 1155
Coverage Limit: €100,000 per person and bank
Fund Size: €188.93 million (equals 1.30% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Dutch Central Bank, Dutch Deposit Guarantee Scheme
Website: www.depositogarantie.nl
Address:
De Nederlandsche Bank
Westeinde 1
1017 ZN Amsterdam
Netherlands
Email: [email protected]
Phone: +31 20 524 2727
Coverage Limit: €100,000 per person and bank
Fund Size: €4.57 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
The Norwegian statutory deposit guarantee ensures coverage for non-resident investors up to a maximum equivalent of €100,000 per person and bank. In the event of a payout by the deposit guarantee fund, the compensation is made in the currency of the payout account at the exchange rate on the day the guarantee event is determined. Therefore, a currency exchange rate risk may apply.
Official Name: Norwegian Banks' Guarantee Fund
Website: www.bankenessikringsfond.no
Address:
Dronnings Mauds gate 10
Postboks 1213 Vika
0110 Oslo, Norway
Email: [email protected]
Phone: +47 21 62 35 50
Coverage Limit: €100,000 per person and bank when the account is held in euros
Fund Size: NOK 22.18 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Einlagensicherung AUSTRIA GmbH
Website: https://www.einlagensicherung.at
Address:
Einlagensicherung AUSTRIA Ges.m.b.H.
Wipplingerstraße 34/4/DG4
1010 Wien, Österreich
Email: [email protected]
Phone: +43 (1) 533 98 03
Coverage Limit: €100,000 per person and bank
Fund Size: €765.80 million (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Deposits including interest are legally protected up to €100,000 per person and bank by the Polish deposit guarantee fund. In the event of a payout, compensation is made in Polish Złoty (PLN) at the exchange rate of the National Bank of Poland on the date the guarantee case is determined. Therefore, a currency/exchange rate risk may apply.
Official Name: Bank Guarantee Fund
Website: https://www.bfg.pl/en
Address:
Bank Guarantee Fund
4 Skorupki Street
00-546 Warsaw, Poland
Email: [email protected]
Phone: +48 22 58 30 700
Coverage Limit: €100,000 per person and bank
Fund Size: PLN 19.17 billion (equals 1.60% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Deposit Guarantee Fund
Website: https://www.fgd.pt
Address:
Av. da República, 57 – 8º
1050-189 Lisboa
Portugal
Email: [email protected]
Phone: +351 21 313 01 99
Coverage Limit: €100,000 per person and bank
Fund Size: €1.72 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
According to EU Directive 2014/49/EU, savings are protected under the Swedish statutory deposit guarantee system up to SEK 1,050,000 per person and bank (equivalent to approximately €100,000). This legal protection applies to all individuals, regardless of whether they reside in Sweden or abroad.
Official Name: Riksgälden
Website: https://www.riksgalden.se/en/our-operations/deposit-insurance/
Address:
Riksgälden
SE-103 74 Stockholm
Sweden
Email: [email protected]
Phone: +46 8 613 4500
Coverage Limit: SEK 1,050,000 (approx. €100,000) per person and bank
Fund Size: SEK 49.47 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Fondul de Garantare a Depozitelor Bancare (FGDB)
Website: https://www.fgdb.ro/en
Address:
Strada Negru Vodă nr. 3, etaj 2
Sector 3, București
România
Email: [email protected]
Phone: +40 21 326 6020
Coverage Limit: RON 500,000 (approx. €100,000) per person and bank
Fund Size: RON 7.72 billion (equals 0.75% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Bank of Slovenia
Website: https://www.bsi.si/en
Address:
Banka Slovenije
Slovenska cesta 35
1505 Ljubljana
Slovenia
Email: [email protected]
Phone: +386 1 471 9000
Coverage Limit: €100,000 per person and bank
Fund Size: €194.78 million (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: National Deposit Insurance Fund of Hungary (NDIF)
Website: www.oba.hu
Office Address:
City Gate 1. Office Building, 6th Floor
Köztelek utca 6
1092 Budapest, Hungary
Postal Address:
P.O. Box 270
1476 Budapest, Hungary
Email: [email protected]
Phone: +36 (1) 214 0661
Coverage Limit: €100,000 in HUF (Hungarian Forint) per person and bank
Fund Size: HUF 154.65 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: Deposit Guarantee Fund for Banks
Website: centralbank.cy
Address:
80, Kennedy Avenue
CY-1076 Nicosia
P.O. BOX 25529, CY-1395 Nicosia
Phone: +357 22 71 41 00
Coverage Limit: €100,000 per person and bank
Fund Size: €210.41 million (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: The Deposit Guarantee Fund of Credit Institutions
Website: http://www.fgd.es/en
Address:
The Deposit Guarantee Fund of Credit Institutions
C/José Ortega y Gasset, 22 – 4 Planta
28006 Madrid
Spain
Phone: +34 91 431 66 45
Coverage Limit: €100,000 per person and bank
Fund Size: €8.13 billion (equals 0.75% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Official Name: The Deposit Protection Fund of Slovak Republic
Website: https://fovsr.sk/?lang=en
Address:
Deposit Protection Fund
Kapitulská 12
812 47 Bratislava 1
Slovakia
Email: [email protected]
Phone:
(+421 2) 5443 5444
(+421 2) 5443 2570
Coverage Limit: €100,000 per person and bank
Fund Size: €348.10 million (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
The statutory deposit guarantee scheme of the Czech Republic secures deposits up to the equivalent of €100,000 per person and bank. In case of a payout by the deposit guarantee fund, reimbursement is made in Czech Koruna (CZK) at the exchange rate on the date the guarantee case is confirmed. Therefore, a currency/exchange rate risk may apply. More information is available at https://www.garancnisystem.cz/de.
Official Name: Financial Market Guarantee System
Website: https://www.garancnisystem.cz/
Address:
Garanční systém finančního trhu
Týn 639/1
110 00 Praha 1
Czech Republic
Email: [email protected]
Phone: +420 237 762 796
Coverage Limit: €100,000 per person and bank
Fund Size: CZK 14.21 billion (equals 0.80% of covered deposits)
Status as of: 31.12.2023
Source: European Banking Authority
Deposit protection applies to all savings deposits such as fixed-term deposits, overnight money, and checking accounts. Savings books and savings bonds are also protected under the deposit insurance schemes. It does not matter whether the accounts are held in euros or in a foreign currency. In addition, protection also covers the settlement account of a securities portfolio; however, the portfolio itself is not covered by deposit protection.
Statutory deposit protection primarily covers private individuals and businesses that hold deposits—such as checking accounts, savings books, fixed-term deposits, and overnight money—with banks in Germany.
Germany has a comprehensive deposit protection system designed to safeguard customer deposits at banks and financial institutions. This system includes both statutory and voluntary deposit protection measures.
Many private banks are members of the voluntary Deposit Protection Fund of the Association of German Banks (BdB). The BdB is the representative body of private banks and credit institutions in Germany. It advocates for the shared interests of its member banks in various areas, including deposit protection. Deposits exceeding the statutory deposit guarantee are covered up to 8.75% (as of 2025) of the bank’s equity capital.
Members of the Association of Public Banks in Germany (VÖB) usually rely on their own form of voluntary deposit protection. They are typically members of an umbrella organization that represents their interests in matters of deposit protection and other issues. The VÖB is the umbrella association of public-law banks in Germany, which include savings banks, state banks, and development banks.
Savings banks and cooperative banks (Volksbanken and Raiffeisenbanken) are two different types of financial institutions in Germany. Each of them has its own approach to deposit protection and institutional safeguarding.
In 2015, compensation in EU countries was significantly simplified. In the event of a bank failure, investors no longer need to contact the local compensation body. Compensation is automatically handled by the deposit guarantee schemes. Compared internationally, deposit protection in Germany and across the EU is considered low risk.
Banks in non-EU countries may have different deposit protection structures. Investors should check whether a bank falls under European regulations. For example, branches of German or EU banks located in non-EU countries are still covered by EU deposit protection laws, whereas subsidiaries are not. In addition to legal regulations, the creditworthiness of the respective countries should also be taken into account.
Investing according to country ratings
In the event of a loss, the respective country's deposit guarantee scheme is required to complete the payout within a maximum of ten days – a period that was gradually shortened to seven days by 2024. However, the overall process may take several weeks, as it first needs to be determined whether the situation qualifies as a deposit guarantee case. In the event of a compensation situation, Allianz will of course support its investors within the scope of what is legally and practically possible.
Allianz offers access to attractive savings and fixed-term deposit products from Germany and across Europe, as well as global ETF portfolios and retirement investment options. Opening a Allianz account takes just a few minutes. The user-friendly online banking system enables simple and transparent account management.
With a savings or fixed-term deposit account, you can benefit from competitive interest rates, which are often higher in other EU countries than in Germany. All fixed and savings accounts offered through Allianz are protected by EU-wide deposit guarantee schemes.
Statutory deposit protection only applies to deposits held in euros or another currency of a European Union member state. The protection limit is €100,000 per customer and bank. If a deposit is made in U.S. dollars (USD), for example, it is not covered by statutory deposit protection. In this case, investors should check whether a voluntary deposit protection scheme is available.
Statutory deposit protection applies uniformly across all EU countries. This means your deposits are protected up to €100,000 per investor and bank in any EU country. Additionally, the European Economic Area (EEA) countries—such as Iceland, Liechtenstein, and Norway—as well as Monaco, San Marino, and Switzerland, also participate. In the UK, a national deposit protection scheme applies, which covers up to £85,000 per customer and bank.
Security transactions such as stock purchases, funds, or ETFs are not covered by deposit protection. However, capital invested in funds and ETFs qualifies as segregated assets. Therefore, in the event of insolvency of the fund provider or custodian bank, these securities can typically be reclaimed or transferred to another securities account.
Deposit protection applies per individual investor. This means that each account holder has a separate compensation entitlement. For married couples, the protection limit doubles to €200,000. Therefore, it makes no difference whether a couple holds a joint account or two individual accounts.
If your savings exceed the deposit protection limit of €100,000, it may be advisable to distribute the funds across multiple banks. Since the statutory deposit protection applies per investor and per bank, you are eligible for protection of up to €100,000 at each additional bank.
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