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 MKB Bank Nyrt
All credit institutions operating in Hungary are obliged to participate
in Hungarian deposit guarantee scheme.
MKB Bank Nyrt is a member of National Deposit Insurance Fund (NDIF) and makes its contributions into it. In the case of MKB Bank Nyrt failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation: