How is the Deposit Insurance Coverage calculated for Partnerships?

A partnership is treated as a single entity for the purpose of Deposit Insurance compensation. There is no aggregation of the partnership's insured deposits with the insured deposits of individual members.

Assume a partnership with three partners – A, B and C and they have a combined deposit of S$120,000 with in their Mari Business Account and placement(s) in Mari Business Fixed Deposit. Partner A also maintains S$30,000 with MariBank in his/her Mari Savings Account.

In the event of a Deposit Insurance payout, the partnership will be entitled to a compensation of S$100,000 as a single entity with MariBank. Partner A will receive S$30,000 in his/her own personal capacity.