Innskuddsgarantiordningen

Innskuddsgarantiordningen, or the Deposit Guarantee Scheme, is a Norwegian safety net for bank deposits. It protects deposits held in banks that participate in the scheme, within the limits set by law, and aims to maintain financial stability and public confidence in the banking system.

The scheme covers deposits up to 2,000,000 Norwegian kroner (NOK) per depositor per bank. Covered deposits include cash deposits, savings accounts, and similar fixed-term or demand deposit products. The limit applies per depositor and per bank, meaning deposits held in different banks are insured separately up to the limit at each bank. Investments such as stocks, bonds, or funds, and other non-deposit financial products are not covered.

The guarantee is funded by fees paid by member banks and is administered under Norwegian law, with supervision by the Financial Supervisory Authority of Norway (Finanstilsynet). The legal basis is the Act on Deposit Guarantee Schemes, which aligns Norway with the EU/EEA framework for deposit protection.

In the event of a bank's insolvency or resolution, eligible depositors are compensated up to the insured limit. Payouts are made by the scheme's administrator, and claim processing follows established procedures. Depositors do not need to take action in all cases, but it is advisable to verify that their bank participates in the scheme and to understand how deposits are distributed across banks if they hold accounts at multiple institutions.

See also: deposit protection, financial stability, Finanstilsynet, EU/EEA deposit guarantee directives.