Deposit Insurance Calculator

Currency

Savings

How many banks they sit in

Insured limit per bank

1.4 million roubles in Russia; set your own scheme's figure.

Deposit rate, %

Term, months

Result

Covered

$1,400,000.00

Outside the guarantee

$2,080,000.00

Per bank

$3,000,000.00

With interest at maturity

$3,480,000.00

Banks needed

Safe deposit size

$1,206,896.55

This result is informational only and is not professional advice.

Interest counts against the limit too

Shows how much of your savings the deposit guarantee covers once interest is counted, and across how many banks the money has to be spread.

A deposit guarantee scheme covers a fixed amount per depositor per bank. The detail people miss is that accrued interest counts inside that limit, not on top of it — so a deposit placed exactly at the limit grows past it within a month.

That is why the safe deposit is the limit divided by one plus the rate for the term. This calculation works the figure out and says how many banks the whole sum needs.

What this calculator shows

How much is covered and how much sits outside the guarantee
The balance per bank with interest at maturity
The number of banks needed and the largest safe deposit

What to keep in mind

The default limit is the Russian one, 1.4 million roubles per bank. Other schemes have their own figure, so the limit is an input.
The money is assumed to be spread evenly. Several deposits in the same bank share one limit, and so do different branches of it.

FAQs

Does interest count towards the limit?

Yes. The guarantee covers the balance including interest accrued to the day the bank failed, and the total is capped at the limit.

Do two accounts in the same bank get two limits?

No. The limit is per depositor per bank, whatever the number of accounts, and it covers everything together.

What about a joint or business account?

Rules differ by scheme, and business accounts are often covered separately or not at all. Check the specific terms before relying on the number.

How long does payout take?

In a well-run scheme, days to a couple of weeks. But the money is frozen until then, which is its own argument for spreading it.

Worked example

Three million in one bank

Input: 3,000,000 in a single bank, a 1,400,000 limit, 16 percent for 12 months

Output: 2,080,000 outside the guarantee

Note: With interest the balance reaches 3.48 million, so three banks are needed rather than one. The largest deposit that stays covered for the whole year is about 1,206,900.

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Deposit Insurance Calculator

Result

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