The Norwegian Banks’ Guarantee fund covers most types of deposits held at member banks in case of a bank failure.
The guarantee covers deposits in all member banks to a limit of two million Norwegian kroner per depositor per bank.
Eligible deposits under the guarantee:
- Deposits on savings and current accounts
- Deposits in both Norwegian kroner and foreign currencies
Non eligible deposits under the guarantee:
- Investments in other bank products like stocks or securities
- Deposits originating from legal offence where there is a court order
- Deposits made by investments funds
- Deposits with extraordinary high interests or other economic benefits negotiated by individual depositors when the benefits contributed to the default
- Deposits from companies in the same group as the failing bank