Skip to content
North Cyprus Reference
Menu

Savings deposits are insured up to EUR 20,000 per account, with no nationality qualifier

Rule record · last verified 22 September 2026

In force. Start date not confirmed in this record.

Rule

All banks licensed under the TRNC Banking Law must insure savings deposits (deposits opened by natural persons, not subject to commercial transactions) held with them, under the Savings Deposit Insurance and Financial Stability Fund Law. The insured amount has been set by the Central Bank at not less than EUR 20,000 per account since 1 January 2004. The statutory 'savings deposit' definition carries no citizenship or residency qualifier.[1]

Exceptions

  • Source was read from a lower-confidence, scanned/OCR-degraded PDF — treat exact wording with appropriate caution pending a cleaner copy.
  • A widely-circulated 'EUR 100,000' coverage figure was specifically searched for and not found anywhere in this text.
  • Foreign-depositor coverage is an inference from the absence of a nationality qualifier, not an explicit confirming statement.

Where this rule comes from

Instrument
Savings Deposit Insurance and Financial Stability Fund Law, No. 32/2009, as amended/consolidated by Law No. 61/2023, Article 2, Article 4, and the coverage-floor provision
Authority
Assembly of the Republic (Cumhuriyet Meclisi), TRNC
Jurisdiction
Turkish Cypriot administration (TRNC)
Basis
Legislation · asserted by us within this jurisdiction
Verification
Primary source verified. We read the primary text ourselves on 22 September 2026.
Legal review
Not yet reviewed by a named legal reviewer.

History of this rule

  • — Published following Founder approval. (version 1, First published)

Sources for this rule

Numbered in order of first use. Each entry names the kind of source it is and the day we read it.

  1. [1]
    Savings Deposit Insurance and Financial Stability Fund Law, No. 32/2009, as amended/consolidated by Law No. 61/2023

    Savings Deposit Insurance and Financial Stability Fund, TRNC · Court decisions · original in Turkish · accessed 19 September 2026 · source record

Cite this record

https://northcyprusreference.com/en/rules/deposit-insurance-scope-and-floor

Identifier deposit-insurance-scope-and-floor · Open data · challenge this rule