The Deposit Guarantee Scheme covers which of the following deposits?

• A. Bank current accounts only.
• B. Notice deposit accounts only.
• C. Credit union deposit accounts only.
• D. Bank current accounts, notice deposit accounts and credit union deposit accounts.

Answer: (D)

The Deposit Guarantee Scheme aims to protect ordinary retail deposits held at participating institutions up to a fixed limit per depositor per institution. It covers deposits across eligible banks and credit unions, including common account types like bank current accounts, notice deposit accounts, and credit union deposit accounts. That makes the option listing all three types the best choice, since it reflects the scheme’s scope across both banks and credit unions. The narrower options omit one or more protected deposit types, so they don’t capture the full coverage. If you have funds in these accounts at eligible institutions, they’re protected up to the guarantee cap.