News India Live, Digital Desk: (Saving UPTO 5 Lakh) If you have a saving account in the bank, then this news is very important for you. Do you know how much money is safe to keep in your account, which the government guaranteed? Yes, there is a limit, on which the government guarantee on the money placed is reduced. If you keep more money in the same bank than this limit, then you may have some trouble in the event of the bank getting into trouble (such as drowning).
How much money is safe? Understand a rule of ₹ 5 lakh
Guaranteed how safe your money is in bank DICGC (Deposit Insurance and Credit Guarantee Corporation) Gives, which is a RBI’s organization. In the year 2020, Finance Minister Nirmala Sitharaman made a major change in the budget. Earlier, deposit of up to ₹ 1 lakh was considered safe in the bank, but now this The limit has been increased to ₹ 5 lakh per person, per bank,
How does DICGC work?
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Security limit: This means that if a bank sinks or stops (bankrupt), then your stored in it Up to ₹ 5 lakh Are completely safe.
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How many days will you get money? According to the rule, in such a situation DICGC you get your deposit up to ₹ 5 lakh Within 90 days Will complete the process of getting back.
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Mixing all accounts: This guarantee of ₹ 5 lakh All accounts present in the same bank (Such as savings account, fixed deposits- FD, recurring deposit-RD, current account).
Understand from the example:
Suppose you have a FD of ₹ 5 lakh in the same bank and the same bank has ₹ 3 lakh in the savings account (ie total ₹ 8 lakh). If that bank sinks, then you only under DICGC rules Only ₹ 5 lakh will be returnedBecause this is the limit of insurance cover. No matter how high in your account, only ₹ 5 lakhs will be considered safe.
Then what should we do? How to keep all your money safe?
However, the good thing is that in the last several decades, there has been hardly any major commercial bank bankruptcy in India. Monitoring RBI is quite strict. Nevertheless, if you want complete security of your money and your deposit is more than ₹ 5 lakh, then the best and simple way is:
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Keep money in different banks: You get your total deposit amount Divide into different banksFor example, if you have ₹ 15 lakhs, then you can keep ₹ 5-5 lakh in different banks. This will protect your entire ₹ 15 lakh under DICGC.
To protect your deposit amount, banks now also pay more premium (fee) to DICGC (12 paise every ₹ 100).
