20th anniversary of the Hong Kong Deposit Insurance Plan: Guaranteed amount of HK$800,000, total insured deposits reached HK$3.66 trillion

The Zhitong Finance App has learned that the Hong Kong Deposit Protection Commission (Deposit Insurance Council) announced that the Deposit Protection Plan (Deposit Insurance Plan) will celebrate its 20th anniversary on September 25, 2026. Over the past 20 years, deposit insurance schemes have improved significantly in terms of coverage, operational efficiency and public awareness, and continue to help strengthen public confidence in the banking system.

In terms of coverage, the deposit insurance plan was raised from HK$100,000 in 2006 to HK$500,000 in 2011, and further increased to HK$800,000 in 2024. Both increases were higher than cumulative inflation over the same period, thus increasing the real value of deposit protection.

The total amount of protected deposits increased sevenfold, from HK$452 billion in 2006 to HK$365.6 billion in 2025. Currently, the deposit insurance plan provides full protection for 92.5% of depositors, which is in line with international standards.

In terms of operational efficiency, since 2016, the deposit insurance plan has used a total payment method to determine compensation amounts, drastically shortening the target time for compensation from 42 days to 7 days; starting in 2021, new electronic payment methods (including fast turnaround times) have been added to distribute compensation. Compared with using only physical checks, the compensation issuance process can be further shortened by 1 to 2 days.

In terms of public awareness, public awareness of the Deposit Insurance Plan has increased from 67.2% in 2006 to about 80% in recent years. Public confidence also reached a new high of 86.7% in 2025, reflecting the effectiveness of the Deposit Insurance Association's continued work to promote greater public awareness of the Deposit Insurance Plan.

Ms. Liu Yanqing, chairman of the Savings Insurance Association, said that as the “guardian of deposits”, the Savings Insurance Association has been doing its best for the past 20 years to keep depositors at ease. As the deposit insurance scheme begins a new chapter, it is expected that the role of the scheme will further deepen, continue to protect depositors and contribute to the stability of Hong Kong's banking system.

Mr. Chen Yi, President of the Depository Council, said that an effective and efficient depository plan is essential to maintaining public confidence in the banking system. The Depository Council will continue to work to ensure that the Depository Plan continues to perform its key functions effectively in a rapidly changing financial environment.

Coinciding with the 20th anniversary of the Savings Insurance Plan, the Savings Insurance Association is launching a number of publicity and community education activities to raise public awareness and confidence in the Deposit Insurance Plan. The Depository Council has also updated its website to enhance the user experience so that the public and other stakeholders can more easily browse and access information about the Deposit Insurance Plan.