Protecting Your Deposits – Peace of Mind with General Finance
The New Zealand Government is introducing the Depositor Compensation Scheme (DCS) to provide eligible depositors with added confidence and security. This scheme is designed to protect up to $100,000 per eligible depositor, per licensed institution in the unlikely event of a failure.
General Finance Limited is a licensed institution under the DCS. A full list of licensed deposit takers can be found here
What is the Depositor Compensation Scheme?
The DCS is a government-backed initiative to protect retail depositors by guaranteeing their deposits up to $100,000. Administered by the Reserve Bank of New Zealand, this scheme ensures that New Zealanders have greater financial protection when placing funds with licensed deposit takers.
How Does it Work?
- Covers up to $100,000 per depositor, per institution
- Applies to eligible products, such as term deposits, transaction accounts, saving accounts and notice accounts
- Compensation is paid by controlled entity Government
- Funded by levies on licensed deposit takers
What Products Are Covered?
Under the Scheme, General Finance term deposits will be covered.
Who is Eligible?
Anyone who holds money in term deposits with General Finance will be covered by the Scheme. In the event of the failure of General Finance, your term deposits will be protected by up to $100,000 by the Scheme.
When Will the Scheme Take Effect?
The scheme commences on 1st July 2025 and will include existing term deposits.
General Finance’s Commitment
We support the Government’s initiative to enhance financial stability and provide better protection for depositors. Our clients’ trust and peace of mind are our top priorities.
Learn More
To read more about the scheme, visit the Reserve Bank of New Zealand website.
If you have any questions, feel free to contact our team at investment@generalfinance.co.nz or call us at 0800 500 602.
