{"id":9703,"date":"2025-08-01T06:32:45","date_gmt":"2025-08-01T06:32:45","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=9703"},"modified":"2026-02-24T09:21:52","modified_gmt":"2026-02-24T09:21:52","slug":"everything-you-need-to-know-about-dicgc","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/","title":{"rendered":"Everything you need to know about DICGC"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Have you ever wondered what happens to your money if a bank shuts down? Is your hard-earned savings safe? That\u2019s where DICGC comes in. It\u2019s a government-backed insurance that protects your bank deposits up to a certain limit. In this blog, let\u2019s understand what is DICGC, how it works and keeps your money secure.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#What_is_DICGC\" >What is DICGC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#How_Can_One_Diversify_Their_Portfolio_With_NBFC_Bonds\" >How Can One Diversify Their Portfolio With NBFC Bonds?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#How_Much_of_Your_Money_is_Insured_under_DICGC\" >How Much of Your Money is Insured under DICGC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#5_Investment_Options_Under_%E2%82%B950000_in_India\" >5 Investment Options Under \u20b950,000 in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Which_Banks_Are_Covered_by_DICGC\" >Which Banks Are Covered by DICGC?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Public_Sector_Banks\" >Public Sector Banks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Private_Banks\" >Private Banks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Cooperative_Banks\" >Cooperative Banks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Small_Finance_Foreign_Banks\" >Small Finance &amp; Foreign Banks<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Are_Small_Finance_Banks_Good_For_Investments\" >Are Small Finance Banks Good For Investments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#What_Type_of_Deposits_Are_Covered\" >What Type of Deposits Are Covered?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#How_Do_NBFC_Bonds_Compare_To_Traditional_Bank_Bonds\" >How Do NBFC Bonds Compare To Traditional Bank Bonds?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Whats_NOT_Covered_by_DICGC\" >What\u2019s NOT Covered by DICGC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Top_5_Alternatives_to_Fixed_Deposits%E2%80%8B_in_2026\" >Top 5 Alternatives to Fixed Deposits\u200b in 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#How_and_When_Will_You_Get_Your_Money_If_a_Bank_Shuts_Down\" >How and When Will You Get Your Money If a Bank Shuts Down?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Reinvestment_in_Fixed_Deposits_%E2%80%93_Benefits_Drawbacks\" >Reinvestment in Fixed Deposits \u2013 Benefits &amp; Drawbacks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Frequently_Asked_Questions_on_DICGC\" >Frequently Asked Questions on DICGC<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#1_Is_DICGC_free_for_depositors\" >1. Is DICGC free for depositors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#2_What_is_the_timeline_for_getting_a_refund_from_DICGC\" >2. What is the timeline for getting a refund from DICGC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#3_Do_you_need_to_file_a_claim_to_get_your_money_back\" >3. Do you need to file a claim to get your money back?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#4_Are_post_office_deposits_covered_under_DICGC\" >4. Are post office deposits covered under DICGC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#5_If_I_have_%E2%82%B95_lakh_in_3_different_banks_will_all_be_insured\" >5. If I have \u20b95 lakh in 3 different banks, will all be insured?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#6_What_is_DICGC_insurance_limit_for_joint_accounts\" >6. What is DICGC insurance limit for joint accounts?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#Top_5_Banks_with_Higher_Fixed_Deposit_Rates_in_India_2026\" >Top 5 Banks with Higher Fixed Deposit Rates in India 2026<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#7_What_is_DICGC\" >7. What is DICGC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#8_How_much_FD_amount_is_insured_under_DICGC\" >8. How much FD amount is insured under DICGC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#9_Are_NBFCs_covered_under_DICGC\" >9. Are NBFCs covered under DICGC?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#How_Do_NBFC_Bonds_Compare_To_Traditional_Bank_Bonds-2\" >How Do NBFC Bonds Compare To Traditional Bank Bonds?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#10_Is_DICGC_applicable_to_NBFCs_in_2026\" >10. Is DICGC applicable to NBFCs in 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#11_Does_DICGC_cover_post_office_deposits_and_how_much_money_is_insured_there\" >11. Does DICGC cover post office deposits, and how much money is insured there?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/everything-you-need-to-know-about-dicgc\/#12_How_does_DICGC_work_if_a_bank_shuts_down\" >12. How does DICGC work if a bank shuts down?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_DICGC\"><\/span><span style=\"font-weight: 400;\">What is DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">DICGC stands for Deposit Insurance and Credit Guarantee Corporation. It is a wholly owned subsidiary of the Reserve Bank of India (RBI). DICGC was created in 1961 to protect depositors\u2019 money and to maintain trust in the banking system.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The main role of DICGC is to protect depositors by insuring the money kept in banks. If a bank fails or shuts down, DICGC steps in and makes sure depositors get back their insured money \u2013 up to a fixed limit.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Can_One_Diversify_Their_Portfolio_With_NBFC_Bonds\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/how-can-one-diversify-their-portfolio-with-nbfc-bonds\/\"><span style=\"font-weight: 400;\">How Can One Diversify Their Portfolio With NBFC Bonds?<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"How_Much_of_Your_Money_is_Insured_under_DICGC\"><\/span><span style=\"font-weight: 400;\">How Much of Your Money is Insured under DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Under DICGC, each depositor is insured up to \u20b95 lakh in one bank. This means if a bank fails, you can get back up to \u20b95 lakh of your total money in that bank. This \u20b95 lakh limit was increased from \u20b91 lakh in 2020 to give more safety to depositors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now, you may have a question: Does it include both interest and payment? Yes, the \u20b95 lakh limit includes both your deposit amount (principal) and the interest earned on it. For example, if you had \u20b94.80 lakh in a fixed deposit and earned \u20b920,000 as interest, the total \u20b95 lakh is fully covered. <\/span><span style=\"font-weight: 400;\">This reflects the DICGC deposit insurance limit of 5 lakh per depositor per bank principal and interest.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s say \u2013 you have the following in one bank:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Savings account: \u20b91 lakh<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fixed deposit: \u20b93.5 lakh<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest earned: \u20b950,000<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Total = \u20b95 lakh \u2013 This entire amount is covered by DICGC.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">But if your total is more than \u20b95 lakh (say \u20b97 lakh), then only \u20b95 lakh is insured. The remaining \u20b92 lakh is not guaranteed to be returned. <\/span><span style=\"font-weight: 400;\">Note that the DICGC insurance limit India applies here.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Investment_Options_Under_%E2%82%B950000_in_India\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/five-investment-options-under-fiftythousand-in-india\/\"><span style=\"font-weight: 400;\">5 Investment Options Under \u20b950,000 in India<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Which_Banks_Are_Covered_by_DICGC\"><\/span><span style=\"font-weight: 400;\">Which Banks Are Covered by DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">DICGC covers almost all banks where you keep your money \u2013 whether they are government, private, or cooperative banks. Here\u2019s a simple breakdown:<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Public_Sector_Banks\"><\/span><span style=\"font-weight: 400;\">Public Sector Banks<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">All government or public sector banks are covered under DICGC. This includes popular banks like State Bank of India (SBI), Bank of Baroda, Punjab National Bank, and others. So, if you have money in a government bank, it is insured up to \u20b95 lakh.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Private_Banks\"><\/span><span style=\"font-weight: 400;\">Private Banks<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">All major private banks like HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, etc., are also covered. So, even if your bank is private, your money is still protected under DICGC.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cooperative_Banks\"><\/span><span style=\"font-weight: 400;\">Cooperative Banks<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Urban and rural cooperative banks, which are common in Tier 2 and Tier 3 cities, are also covered. This is important for people who keep money in district banks or co-op banks, as they too enjoy the \u20b95 lakh insurance.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Small_Finance_Foreign_Banks\"><\/span><span style=\"font-weight: 400;\">Small Finance &amp; Foreign Banks<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Banks like AU Small Finance Bank, Equitas, Ujjivan, and others are covered. Also, foreign banks operating in India, like HSBC, Citibank, or Standard Chartered, are covered under DICGC for the deposits made in their Indian branches. <\/span><span style=\"font-weight: 400;\">For clarity on which banks are not covered under DICGC, see the exclusions below.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Are_Small_Finance_Banks_Good_For_Investments\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/fixed-income\/bank-fd-fixed-income\/are-small-finance-banks-good-for-investments\/\"><span style=\"font-weight: 400;\">Are Small Finance Banks Good For Investments<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"What_Type_of_Deposits_Are_Covered\"><\/span><span style=\"font-weight: 400;\">What Type of Deposits Are Covered?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">DICGC protects not just your savings, but most types of deposit accounts. Here\u2019s what is covered under the \u20b95 lakh insurance:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Savings Account: <\/b><span style=\"font-weight: 400;\">Your regular savings account, where most people keep their salary or monthly savings, is fully covered under DICGC \u2013 up to \u20b95 lakh (including interest earned).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fixed Deposits (FD): <\/b><span style=\"font-weight: 400;\">FDs or Term Deposits are also protected. So if you have one or more fixed deposits in the same bank, the total (FD amount + interest) is insured up to \u20b95 lakh.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Recurring Deposits (RD): <\/b><span style=\"font-weight: 400;\">If you\u2019re saving money monthly through an RD, this is also insured. Just like FDs, your RD amount and the interest earned are included in the \u20b95 lakh limit.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Current Account: Even though a current account is used mostly by businesses or shopkeepers, it is also covered. So, any money in your current account is protected up to \u20b95 lakh.<\/b><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_Do_NBFC_Bonds_Compare_To_Traditional_Bank_Bonds\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-do-nbfc-bonds-compare-to-traditional-bank-bonds\/\"><span style=\"font-weight: 400;\">How Do NBFC Bonds Compare To Traditional Bank Bonds?<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Whats_NOT_Covered_by_DICGC\"><\/span><span style=\"font-weight: 400;\">What\u2019s NOT Covered by DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While DICGC gives strong protection, it does not cover everything. Here are the key things not insured under this scheme:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Deposits beyond \u20b95 lakh: <\/b><span style=\"font-weight: 400;\">If your total deposits (principal + interest) in one bank are more than \u20b95 lakh, then only \u20b95 lakh is insured \u2013 the extra amount is not guaranteed to be returned. For example, if you have \u20b97 lakh in a bank, DICGC will cover only \u20b95 lakh. The rest depends on how the bank handles its recovery process.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Deposits in NBFCs or chit funds: <\/b><span style=\"font-weight: 400;\">Money kept in NBFCs (Non-Banking Financial Companies), chit funds, finance companies, or cooperative credit societies is not covered by DICGC. Only registered banks under the RBI are eligible. So always be careful where you\u2019re depositing your money.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fraud or illegal accounts: <\/b><span style=\"font-weight: 400;\">If a bank account is found to be fraudulent, illegal, or opened using fake documents, DICGC will not provide any insurance. Always keep your documents updated and make sure your account is valid and verified.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Top_5_Alternatives_to_Fixed_Deposits%E2%80%8B_in_2026\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/top-5-alternatives-to-fixed-deposits\/\"><span style=\"font-weight: 400;\">Top 5 Alternatives to Fixed Deposits\u200b in 2026<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"How_and_When_Will_You_Get_Your_Money_If_a_Bank_Shuts_Down\"><\/span><span style=\"font-weight: 400;\">How and When Will You Get Your Money If a Bank Shuts Down?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If a bank in India shuts down or is restricted by the RBI due to financial trouble, DICGC steps in to protect your money. Your deposits \u2013 up to \u20b95 lakh per person per bank (including principal and interest) are insured. Here\u2019s how the process works:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bank Shutdown:<\/b><span style=\"font-weight: 400;\"> When the RBI cancels a bank\u2019s license or stops its operations, DICGC begins the insurance process.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Data Collection:<\/b><span style=\"font-weight: 400;\"> The bank prepares a list of all depositors and their balances, and sends it to DICGC within 45 days.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Verification:<\/b><span style=\"font-weight: 400;\"> DICGC checks and verifies the data received from the bank.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Payout:<\/b><span style=\"font-weight: 400;\"> After verification, DICGC releases the insured amount directly to your registered bank account or through a method coordinated with the bank within 90 days.<\/span><\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Reinvestment_in_Fixed_Deposits_%E2%80%93_Benefits_Drawbacks\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/reinvestment-in-fixed-deposits-benefits-drawbacks\/\"><span style=\"font-weight: 400;\">Reinvestment in Fixed Deposits \u2013 Benefits &amp; Drawbacks<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_DICGC\"><\/span><span style=\"font-weight: 400;\">Frequently Asked Questions on DICGC<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1_Is_DICGC_free_for_depositors\"><\/span><span style=\"font-weight: 400;\">1. Is DICGC free for depositors?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Yes, DICGC coverage is completely free for depositors. You don\u2019t have to pay anything to get your money insured. The insurance premium is paid by the banks, not by customers. So your savings are protected at no extra cost to you.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_What_is_the_timeline_for_getting_a_refund_from_DICGC\"><\/span><span style=\"font-weight: 400;\">2. What is the timeline for getting a refund from DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">DICGC usually releases the insured amount within 90 days from the RBI\u2019s direction to shut down or restrict the bank. This depends on the bank submitting complete and correct depositor data. If there are delays from the bank\u2019s side, the process may take longer.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Do_you_need_to_file_a_claim_to_get_your_money_back\"><\/span><span style=\"font-weight: 400;\">3. Do you need to file a claim to get your money back?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No, you don\u2019t need to file any claim. The bank sends all your account details directly to DICGC. You will automatically receive the insured amount, unless your bank or DICGC contacts you for missing information or clarification.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Are_post_office_deposits_covered_under_DICGC\"><\/span><span style=\"font-weight: 400;\">4. Are post office deposits covered under DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No, post office deposits are not covered by DICGC. They are backed directly by the Government of India, not by banks. So while they are generally safe, they fall under a different protection system \u2013 not DICGC.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_If_I_have_%E2%82%B95_lakh_in_3_different_banks_will_all_be_insured\"><\/span><span style=\"font-weight: 400;\">5. If I have \u20b95 lakh in 3 different banks, will all be insured?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Yes, each bank is insured separately. If you have \u20b95 lakh in three different banks, each amount is insured up to \u20b95 lakh. So, a total of \u20b915 lakh across three banks would be fully protected under DICGC.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_What_is_DICGC_insurance_limit_for_joint_accounts\"><\/span><span style=\"font-weight: 400;\">6. What is DICGC insurance limit for joint accounts?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Under DICGC rules, each person in a joint account can get up to \u20b95 lakh insurance separately, but only if the combination of names and the order is different (like \u201cA and B\u201d vs \u201cB and A\u201d). If the names are in the same order, it is treated as one account and insured up to \u20b95 lakh total.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Top_5_Banks_with_Higher_Fixed_Deposit_Rates_in_India_2026\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/fixed-deposit\/top-5-banks-with-higher-fixed-deposit-rates-in-india\/\"><span style=\"font-weight: 400;\">Top 5 Banks with Higher Fixed Deposit Rates in India 2026<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"7_What_is_DICGC\"><\/span><span style=\"font-weight: 400;\">7. What is DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">DICGC stands for Deposit Insurance and Credit Guarantee Corporation. It\u2019s owned by the Reserve Bank of India and protects your bank deposits up to \u20b95 lakh if a bank shuts down, keeping your savings safe at no cost to you.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_How_much_FD_amount_is_insured_under_DICGC\"><\/span><span style=\"font-weight: 400;\">8. How much FD amount is insured under DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Your fixed deposit (FD) amount plus interest is insured up to \u20b95 lakh per depositor per bank. For example, if your FD is \u20b94.5 lakh with \u20b940,000 interest, the full \u20b94.9 lakh is covered. However, anything over \u20b95 lakh isn\u2019t guaranteed.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_Are_NBFCs_covered_under_DICGC\"><\/span><span style=\"font-weight: 400;\">9. Are NBFCs covered under DICGC?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No, NBFCs (Non-Banking Financial Companies) are not covered under DICGC. This insurance applies only to <\/span><a href=\"https:\/\/www.rbi.org.in\/commonman\/english\/scripts\/banksinindia.aspx\"><span style=\"font-weight: 400;\">RBI-registered banks<\/span><\/a><span style=\"font-weight: 400;\">. So, money in NBFCs, chit funds, or finance companies don\u2019t have this protection.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Do_NBFC_Bonds_Compare_To_Traditional_Bank_Bonds-2\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-do-nbfc-bonds-compare-to-traditional-bank-bonds\/\"><span style=\"font-weight: 400;\">How Do NBFC Bonds Compare To Traditional Bank Bonds?<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"10_Is_DICGC_applicable_to_NBFCs_in_2026\"><\/span><span style=\"font-weight: 400;\">10. Is DICGC applicable to NBFCs in 2026?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No, DICGC is applicable only to banks in 2026, not NBFCs. RBI rules do not include non-bank entities like finance companies. Always check if your deposit is in a registered bank to get coverage up to \u20b95 lakh.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_Does_DICGC_cover_post_office_deposits_and_how_much_money_is_insured_there\"><\/span><span style=\"font-weight: 400;\">11. Does DICGC cover post office deposits, and how much money is insured there?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">DICGC does not cover post office deposits. Post offices offer their own safety net, often up to full amounts, but it\u2019s a separate system from DICGC\u2019s \u20b95 lakh bank limit.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_How_does_DICGC_work_if_a_bank_shuts_down\"><\/span><span style=\"font-weight: 400;\">12. How does DICGC work if a bank shuts down?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If RBI shuts a bank, it sends depositor data to DICGC within 45 days. DICGC then verifies and pays up to \u20b95 lakh (principal + interest) to your account within 90 days. You don\u2019t need to claim here as it\u2019s automatic for verified accounts.<\/span><\/p>\n<p>Latest Updated: 13-02-2026<\/p>\n<p><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Is DICGC free for depositors?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Yes, DICGC coverage is completely free for depositors. The insurance premium is paid by banks, not customers. 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