Deposit insurance

Deposit insurance is a state-provided guarantee of deposits in all types of accounts at banks, credit market companies and investment firms (institutions) with a license to accept deposits.

Compensation level at 950 000 kronor

If an institution goes bankrupt or after a decision made by Finansinspektionen, the insurance provides compensation up to 950 000 kronor per depositor in Sweden.

If you have deposits in a branch of a Swedish institution within the EU the compensation limit is the same as in the country where the branch operates, for example 85 000 pounds in the United Kingdom and 100 000 euros in Finland. For Swedish branches in Norway the compensation limit is also 100 000 euros. 

Extra compensation for temporary high balances

It is possible to apply for extra compensation up to 5 million kronor for deposits resulting from transactions serving a certain social purpose, for example a real estate transaction, divorce, retirement, dismissal, invalidity or death. You can apply for such compensation if the institution where you have deposits fails and the transaction was made within the previous 12 months.

Secure savers contribute to financial stability

The purpose of the deposit insurance scheme is to provide greater security for the public’s deposits and contribute to the stability of the financial system. It was introduced in Sweden in 1996 pursuant to an EU directive. Similar schemes exist in other EU countries, as well as in many countries outside the EU.

Institutions pay deposit insurance fees

Institutions belonging to the deposit insurance scheme pay fees to the Debt Office which are placed in a fund. The value of the deposit insurance fund was SEK 41.8 billion on 31 December 2018.