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InvestRiskFree reliably protects your personal and financial information. Investors never know about others investors. We do not sell, transfer or distribute your personal information to the third parties. Your personal data is only conveyed to the bank you have chosen for opening a deposit in your name.
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For easy reference.
The Deposit Insurance System was created within the framework of the special state program realized according to the Federal Law “On Insurance of Household Deposits in Banks of the Russian Federation” (Federal Law-117 of 23.12.2003).
The main objective of this system is to protect investors’ deposits and bank accounts savings placed in Russian banks within the territory of the Russian Federation.
As of December 19, 2014, investors of 862 banks-participants of this system are under protection.
To protect citizens’ financial interests is one of the most important social targets of the country. Similar deposit insurance systems function in more than 100 countries worldwide, including all EU members, the USA, Japan, Brazil etc.
The Deposit Insurance System functions in the following way. If an insured event occurs (The Central Bank revokes the license of a bank to perform banking operations), the depositor’s funds are refunded within a short time in the form of indemnity payment.
To insure a deposit the investor does not have to conclude a separate contract of insurance: the deposit is insured by force of law. The Deposit Insurance Agency - the organization that has been specially created by the state - refunds to the investor the amount of savings.
Today, according to the Federal Law “On Insurance of Household Deposits in Banks of the Russian Federation”, the indemnity amounts to 100 percent of the sum deposited, but it cannot exceed 1 million 400 thousand roubles. The amount of indemnity for deposits in a foreign currency is calculated at the Central Bank rate on the date of a loss occurrence.
The amount of indemnity in one bank cannot exceed 1 million 400 thousand roubles. However, if an investor has deposits in different banks, in each of them the maximum sum of indemnity payment amounts to 1 million 400 thousand roubles.
All banks having a license to work with private deposits are obliged to participate in he Deposit Insurance System. Deposits are considered insured from the date of inclusion of a bank in the register of banks-participants of the Deposit Insurance System.
The financial basis of the System is the fund of compulsory deposit insurance (Fund) that covers indemnity payments and the expenses connected with the organization of payments.
The main financial sources of the Fund are insurance premiums of participating banks, the income raised from investing temporarily available funds of the Fund, an asset contribution of the Russian Federation.
Insurance premiums are equal for all banks and are paid quarterly. The insurance premium rate is fixed by the Board of Directors of the Agency. In normal conditions it cannot exceed 0,15% of an average deposit amount in the quarter.
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