Invest in Janabank fixed deposit is safe option or Risky?

sameer_ks

KF Ace
Per person or per account(if someone have more than one account in the same bank)?
Thus will be based on account combinations, e.g. if there are 4 accounts like A, B, AB and BA, then one can avail DiCGC insurance of max 5 lacs for all accounts
 

sameer_ks

KF Ace
No.. per bank 5L max irrespective of how many accounts basis holding type..diff banks will be counted diff..
This is not correct, per bank depending upon account configuration, one can avail Rs 5 lacs max DICGSC insurance, this 5 lacs is the total amount (SB + Current + FD) , account combination may be A, B, AB, BA, in this case 20 lacs insurance is covered in single bank, like wise of you have more bank accounts in other banks, it would be similar
 

zacobite

KF Mentor
This is not correct, per bank depending upon account configuration, one can avail Rs 5 lacs max DICGSC insurance, this 5 lacs is the total amount (SB + Current + FD) , account combination may be A, B, AB, BA, in this case 20 lacs insurance is covered in single bank, like wise of you have more bank accounts in other banks, it would be similar
yes.. thats why i said "as per holding type" in my message.. pls access the dicgsc website for more details.. cant type long technical language hence explained in short :)..AB & BA will be treated same btw.
 

zacobite

KF Mentor
This is not correct, per bank depending upon account configuration, one can avail Rs 5 lacs max DICGSC insurance, this 5 lacs is the total amount (SB + Current + FD) , account combination may be A, B, AB, BA, in this case 20 lacs insurance is covered in single bank, like wise of you have more bank accounts in other banks, it would be similar
"What is the maximum deposit amount insured by the DICGC?

Each depositor in a bank is insured upto a maximum of5,00,000 (Rupees Five Lakhs) 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.
"
"
Can deposit insurance be increased by depositing funds into several different accounts all at the same bank?

All funds held in the same type of ownership at the same bank are added together before deposit insurance is determined. If the funds are in different types of ownership or are deposited into separate banks they would then be separately insured.
"

* Copy paste from website response *
 

sameer_ks

KF Ace
yes.. thats why i said "as per holding type" in my message.. pls access the dicgsc website for more details.. cant type long technical language hence explained in short :)..AB & BA will be treated same btw.
Account type AB and BA are treated differently, this is I am 100% sure, one if know contact have received DICGC insurance payment differently in case of AB and BA , in the case of PMC bank
 

zacobite

KF Mentor
Account type AB and BA are treated differently, this is I am 100% sure, one if know contact have received DICGC insurance payment differently in case of AB and BA , in the case of PMC bank
ok.. cool.. good for them.. lets hope we never need dicgc :)
 
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