Insurance Cover For Deposits - Personal Banking

Insurance Cover For Deposits

All Bank deposits are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions as under:

“The DICGC insures all deposits such as savings, fixed, current, recurring, etc. Each depositor in a Bank is insured up to a maximum of Rs.5,00,000/- (Rupees Five Lakh only) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of Bank’s licence or the date on which the scheme of amalgamation/ merger/ reconstruction comes into force