How much insurance is there for your money deposited in the bank? 99% of people do not know this thing

Bank Money Deposited Insurance: How much insurance do you get on the money deposited in the bank? If you are also unaware, let us provide you with complete information about this.

In the past, people often kept most of their money at home, which was a reason why theft incidents were more common. Theft still happens but now people keep less money in homes. Most of the money of the people is deposited in the bank.

But it has been seen many times that banks have sunk. And the money deposited in them also sinks. So what if a bank really sinks. Then the money deposited in it by the people is completely sunk. Or that money is insured.

99% people would not know that the money deposited in the bank is insured. How much insurance do you get on the money deposited in the bank. If you also do not know, then let us tell you complete information about this.

First let us tell you about the insurance of the money deposited in the bank. When a bank closes due to any reason, then the money deposited in it is insured. You get the money for this insurance from the Depositors Insurance Credit Guarantee Corporation i.e. DICGC.

Generally you get insurance up to Rs 5 lakh. That is, even if you have Rs 10 lakh deposited in the bank. But you are guaranteed to get only Rs 5 lakh. However, it is not that you will not get the rest of the money at all. But if we talk about insurance, it will be only for Rs 5 lakh.

If the amount deposited in the bank is more than Rs 5 lakh. Then it depends on how much property the bank has. If the liability of the bank is less. Then you are expected to get money. But if the liability is more, then your money may be lost.

Let us tell you that the government is considering increasing the amount of insurance received from DICGC from Rs 5 lakh to Rs 10 lakh. A decision on this can be taken by the government in the next 6 months.