Insättningsgaranti (deposit guarantee)
Insättningsgaranti is the state's protection for your money in the bank. If a covered bank fails, the state repays your deposits up to 1 150 000 kr per person per institution. It is run by Riksgälden and applies automatically; you do not have to apply for it in advance.
What is protected
The protection covers money in accounts at banks and credit institutions connected to the guarantee, whether the saving is locked or free. The ceiling is 1 150 000 kr per person per institution, so a joint account is protected for each holder separately. If a bank is put into bankruptcy, the compensation is normally paid within seven business days, without you having to do anything.
Extra amount for large sums
On top of the base protection there is an additional amount of up to 5 million kr for money that comes from certain life events, such as the sale of a home. It applies if the deposit was made within the last 12 months. So if you have just sold your home and are waiting to buy a new one, the whole sum is protected during the transition.
What it does not cover
The guarantee covers deposits, that is money in accounts. Funds and shares in an ISK or a kapitalförsäkring are not deposits; they are covered instead by a separate investor protection with different rules. Individual pension savings (IPS) are not covered either. If you hold more than the ceiling in cash, it can be wise to spread it across several banks with different licences.
Worked example
You have 2,000,000 kr in cash. At a single bank only 1 150 000 kr is covered; the remaining 850,000 kr is at risk if the bank fails. Split the money across two banks, 1,000,000 kr each, and both sums are fully protected. The guarantee is per person and per institution, so spreading is the simplest way to stay covered.
Calculate further
- Savings calculator: model long-term growth on your buffer
- Emergency fund guide: how large a cash buffer you actually need
From 1 January 2026 the ceiling was raised to 1 150 000 kr per person per institution, up from 1,050,000 kr. The amount is based on the EU level of 100,000 euro and is recalculated into kronor at intervals, roughly every five years, so the protection tracks the euro rate.