Monday, June 06, 2011

Deposit Insurance Scheme

The Government guarantee, given during the 2008  financial crisis, on all bank deposits in Singapore will expire soon (or has expired). In the future, bank deposits will be covered under the Deposit Insurance Scheme. This FAQ explains how the deposit insurance scheme works. It will also be the agency for the Policyholder Protection Fund (which comes into operation when an insurance company becomes insolvent).

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