Deposit Guarantee Scheme
The deposit guarantee covers deposits up to NOK 2 million per depositor per member bank.
If your bank deposit becomes unavailable due to the failure of a member bank, for instance if the authorities has decided to implement liquidation proceedings, the Norwegian Banks’ Guarantee Fund will reimburse the guaranteed deposits within seven working days.
The guarantee covers deposits in all member banks to a limit of two million Norwegian kroner per depositor per bank.
In some situations, the deposit guarantee will reimburse bank deposits which exceeds the limit of 2 million Norwegian kroner. Bank deposits resulting from certain life events are protected for a period of up to 12 months. Examples of certain life events include insurance payments and the sale of residential real estate. For such deposits an extended reimbursement deadline of up to three months applies.
All Norwegian banks are members of the deposit guarantee scheme. The guarantee covers the customers’ deposits in any member bank, including accrued interests, limited to NOK 2 million per member bank. Membership in the Norwegian Banks’ Guarantee Fund is optional for branches of foreign banks.