Deposit guarantee scheme is a financial stability mechanism
implemented in many countries to protect bank depositors against the loss of their deposits
in the case when a bank is unable to meet its obligations to depositors
by compensating certain deposits held by depositors of the bank.
This compensation is paid out from the contributions which banks have made
into a deposit guarantee fund.
Deposit Guarantee in Luminor Bank AS
All credit institutions operating in Estonia are obliged to participate in
Estonian deposit guarantee scheme.
Luminor Bank AS is a member of Guarantee Fund of Estonia and makes its contributions into it. In the case of Luminor Bank AS failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
Temporary High Balance
citizens of Estonia
residents of Estonia
registered in Estonia
local governments insurers or reinsurers investment funds credit institutions e-money institutions payment institutions credit intermediaries
current accounts demand deposits term deposits overnight deposits operating deposits growth deposits savings deposits children's deposits