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Spain's deposit guarantee fund: what it covers and how much

What happens to your money if your bank fails, and how to spread it so it stays protected.

Updated 6 November 2026

What it covers

  • Balances in current accounts, savings accounts and fixed-term deposits, in any currency 3.
  • Interest owed to you up to the day the guarantee is triggered, within the same limit 3.
  • Separately, securities you've entrusted to the institution, such as shares or bonds, up to another €100,000, if the institution can't return them 1.

What it doesn't cover

  • Products that aren't repaid at face value or that can only be proved by a financial instrument, such as repos 3.
  • Money above €100,000 per holder at the same institution, except the temporary high balances explained below.

Joint accounts and high balances

If an account has several holders, it's split according to the contract or, if it says nothing, in equal shares, and each holder has their own €100,000 limit 3. Some temporary high balances are covered even above that limit for three months from when they reach your account, such as the proceeds of selling your home or a redundancy payment 1.

How to protect your savings

  1. If you have more than €100,000, spread it across different institutions: the limit is per institution, not per account.
  2. Look at the institution, not the brand: two brands can be the same institution. The directory of bank codes tells you which institution is behind each IBAN.
  3. Before signing up, ask which guarantee fund the institution belongs to: it must tell you before you sign 4.
How long does the fund take to pay?

7 business days from when the guarantee is triggered, without you having to ask 2,3.

Is the limit per account or per institution?

Per holder and institution: all your accounts and deposits at the same institution are added up, and the total is covered up to €100,000 1.

Sources

  1. Real Decreto-ley 16/2011, de 14 de octubre, por el que se crea el Fondo de Garantía de Depósitos de Entidades de Crédito. Texto consolidado, BOE. www.boe.es/buscar/act.php?id=BOE-A-2011-16173
  2. Fondo de Garantía de Depósitos. Pago de los importes garantizados. www.fgd.es/informacion-general/que-es-el-fgd/depositos-dinerarios/pago-de-los-importes-garantizados/
  3. Real Decreto 2606/1996, de 20 de diciembre, sobre fondos de garantía de depósitos de entidades de crédito. Texto consolidado, BOE. www.boe.es/buscar/act.php?id=BOE-A-1996-28535
  4. Fondo de Garantía de Depósitos. Depósitos dinerarios garantizados. www.fgd.es/informacion-general/que-es-el-fgd/depositos-dinerarios/depositos-dinerarios-garantizados/

General information, not financial advice. The calculators give estimates: what counts are the terms of your bank's offer. bancos.app is not a bank and isn't linked to any bank.