Background information on the protection of the state-guaranteed deposits | Luminor
Guarantees on deposits with a credit institution or credit union

Safety of your deposits is guaranteed by the deposit guarantee scheme, which has been established pursuant to the Guarantee Fund Act of the Republic of Estonia. In case of unavailability of deposits at a credit institution, your deposit in the amount of up to EUR 100,000 shall be compensated by the Estonian Guarantee Fund (Tagatisfond).

Maximum amount of guaranteed compensation

The maximum amount of guaranteed compensation is EUR 100,000 per each depositor per credit institution. The currency of the guaranteed compensation shall be the euro. Payment of the guaranteed compensation shall not apply to the deposits specified in Section 30 of the Guarantee Fund Act of the Republic of Estonia.

In addition to the maximum guaranteed compensation in the amount of EUR 100,000, a depositor is entitled to the guaranteed compensation in the amount of up to EUR 200,000 in accordance with the types of deposits and provisions specified in Section 4 of the Deposit Guarantee Law of the Republic of Latvia.

Calculation of guaranteed compensation in case of multiple deposits at the same credit institution

Total of your deposits at the same credit institution shall be aggregated and the maximum amount of guaranteed compensation (EUR 100,000) shall be applied to the total amount.

Calculation of guaranteed compensation in case of a joint deposit with other person(s)

If more than EUR 100,000 are held on the account, the guaranteed compensation in the amount of up to EUR 100,000 shall be applied to each depositor separately provided that this depositor has been identified prior to the date of occurrence of unavailability of deposits.

Period of compensation in the case of insolvency of a credit institution or other relevant event

7 working days

Information on the offset of claims

The Estonian Guarantee Fund does not compensate the part of deposits that is equal to liabilities that are payable by the same holder to the same credit institution.

Contacts
Tagatisfond (Estonian Guarantee Fund)
Roosikrantsi 2 10119 Tallinn, Estonia
+372 611 0730
tf@tf.ee