Is any amount of money I keep in my saving bank secured?


#1

Is any amount of money I keep in my saving bank secured?


#2

No, only your account balance up to Rs. 1 Lakhs is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) making your capital relatively safe. Usually public sector banks are quite safe and your capital either in saving bank account of fixed deposits are quite safe. Private Banks are also equally safe as only a financial entity with a high financial cushion is given a banking license by RBI.