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When will the $1m threshold on the Australian Government Deposit Guarantee come into effect?

April 26, 2017Australian deposit government guarantee threshold

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When will the $1m threshold on the Australian Government Deposit Guarantee come into effect?

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From 28 November 2008, only combined balances up to $1million per account holder will be guaranteed by the Australian Government for free. This Government Guarantee will apply until 12 October 2011. For example: If an account holder has $1.5 million with ING DIRECT, the first $1 million will be guaranteed by the Government for free until 12 October 2011.