Deposit insurance

Lithuanian deposits insurance scheme insures deposits of natural and legal persons holding with commercial banks and credit unions. The liability limit for one depositor is 345 280 LT (100 000 EUR). 
In 1997, Lithuanian deposit insurance scheme started the activity like deposit insurance of natural persons holding with banks. Since midyear of 2002, Since midyear of 2002, the State Undertaking „Insurance of Deposits and Investments“ started to insure deposits of natural and legal persons holding with commercial banks and credit unions. At this moment Lithuanian deposits and liabilities to investor’s insurance scheme is harmonized with European Union legal basis and is in accordance with the main provisions of deposit insurance schemes of European Union countries.
Deposit insurance is the scheme which guarantees the safety of deposits holding with banks and credit unions in case of financial embarrassment or bankruptcy. Insurance contributions compulsory paid by banks and credit unions are accumulated in Deposit Insurance Fund. In case of bankruptcy action it is used for insurance compensations for depositors.