Invest in Janabank fixed deposit is safe option or Risky?

[jigarbhatt271]

I want to invest in Janabank Fixed deposit.

I want to know Risk behind it

 

[luciferocious]

till 5lac no risk as its insured by govt

 

[Banny]

till 5lac no risk as its insured by govt

Per person or per account(if someone have more than one account in the same bank)?

 

[luciferocious]

Per person or per account(if someone have more than one account in the same bank)?

per bank account. so if you have 2 bank account in the same bank you can avail 2 times

 

[Skylar]

What is the interest rate they are offering?

 

[sameer_ks]

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

 

[zacobite]

per bank account. so if you have 2 bank account in the same bank you can avail 2 times

No.. per bank 5L max irrespective of how many accounts basis holding type..diff banks will be counted diff..

 

[luciferocious]

No.. per bank 5L max irrespective of how many accounts basis holding type..diff banks will be counted diff..

i dont think so. but could you help me with the source of this info

 

[zacobite]

i dont think so. but could you help me with the source of this info

DICGC.org.in

 

[sameer_ks]

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]

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]

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]

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]

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