India’s deposit insurance covers up to ₹5 lakh per depositor per insured bank, with principal and accrued interest counted together. The protection applies to eligible savings, fixed, current and recurring deposits held at a bank registered with the Deposit Insurance and Credit Guarantee Corporation (DICGC).
The limit is not ₹5 lakh for every account. DICGC combines deposits held in the same right and same capacity across all branches of one bank. Deposits at different insured banks are assessed separately, while investments and several categories of non-bank deposits are outside this scheme.
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What DICGC deposit insurance means
DICGC protection is statutory insurance for eligible bank deposits. If a covered event affects an insured bank, the insurance is intended to protect the depositor up to the applicable ceiling rather than guarantee that every rupee in every account will be recovered.
The current ceiling is up to ₹5,00,000 per depositor per insured bank, including principal and interest. It has applied since February 4, 2020. Interest does not receive a separate allowance: it uses the same ₹5 lakh capacity as the principal.
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For example, if your principal and accrued interest together total ₹4.8 lakh, the covered amount can be up to ₹4.8 lakh. If they total ₹5.3 lakh, the insured amount is capped at ₹5 lakh and the balance is above the insurance limit. DICGC’s FAQ illustrates the point: where principal alone is ₹5 lakh, accrued interest is not insured because the combined amount exceeds the ceiling—not because interest is treated differently.
Which bank deposits are covered
DICGC lists the following ordinary deposit types among covered deposits when they are held with an insured bank:
- Savings deposits
- Fixed or term deposits
- Current-account deposits
- Recurring deposits
The bank must be registered with DICGC. Coverage is tied to the eligible deposit and the insured bank, not to a particular product name or an account’s marketing description. If you are unsure whether a bank participates, verify it before relying on the protection.
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How the ₹5 lakh limit is calculated
All branches of one bank are combined
DICGC aggregates eligible deposits held at every branch of the same bank. A savings account in one city, a fixed deposit at another branch and a recurring deposit opened online are not separate insurance buckets if they are held in the same right and capacity at that bank.
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| Deposits at one insured bank | Amount | How DICGC treats them |
|---|---|---|
| Savings account, Branch A | ₹2,00,000 | Combined because they are at the same bank and held in the same right and capacity |
| Fixed deposit, Branch B | ₹2,50,000 | |
| Recurring deposit, Branch C | ₹1,00,000 | |
| Total before interest | ₹5,50,000 | Only up to ₹5 lakh, including applicable interest, falls within the ceiling |
Opening additional accounts, using different branches or switching between savings, fixed, current and recurring deposits does not create extra cover when the legal ownership capacity is the same.
Separate banks have separate limits
Deposits at two different insured banks are calculated independently. If you have eligible deposits of ₹4 lakh at Bank A and ₹4 lakh at Bank B, each bank is assessed against its own ₹5 lakh ceiling. This is different from holding ₹8 lakh across branches of one bank, where the deposits are aggregated.
| Arrangement | Insurance calculation |
|---|---|
| ₹4 lakh at Bank A and ₹4 lakh at Bank B | Separate ₹5 lakh limits, provided both banks are insured and the deposits are eligible |
| ₹4 lakh at two branches of Bank A | One combined balance at Bank A, subject to one ₹5 lakh limit |
This explains the statutory mechanics; it is not a recommendation to move money or split accounts. Any decision about where to keep funds should also consider access, interest rates, liquidity, tax treatment and the bank’s terms.
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Calculate the balance likely to be payable at the relevant time, including accrued interest, rather than checking principal alone. A fixed deposit with ₹4.95 lakh principal can exceed the insured ceiling once interest is added. Conversely, an amount below ₹5 lakh remains within the ceiling only if the combined principal and interest stay within it.
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“Same right and same capacity” in plain language
DICGC uses the concepts of same right and same capacity to decide whether balances belong in one insurance calculation. In practical terms, deposits owned by the same person or entity in the same legal role are generally combined, even when account numbers and branch locations differ.
DICGC gives examples of capacities that may be treated separately, including an individual, a partner, a guardian, a company director and a trustee. A person’s own account is therefore legally different from money held in a genuine trustee or guardianship role. The separate treatment depends on the underlying legal capacity, not simply on the wording typed into an account title.
Joint accounts require care
Joint-account treatment can depend on the ownership order, names and capacity recorded by the bank. Adding a second name, changing the order of names or opening another account does not automatically create another ₹5 lakh allowance. Ask the bank how it records the account for DICGC aggregation and have the ownership structure documented accurately.
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What DICGC insurance does not cover
The insurance applies to eligible bank deposits, not to every financial asset connected with a bank or financial institution. DICGC exclusions include:
- Deposits of foreign governments
- Deposits of the Union government
- Deposits of state governments
- Inter-bank deposits
- Deposits received outside India
- Amounts specifically exempted by DICGC with prior approval from the Reserve Bank of India
DICGC’s official guidance also distinguishes bank deposits from products that are not insured deposits under this scheme:
- Deposits with non-banking financial companies (NBFCs)
- Mutual funds
- Stocks and other securities
- Bonds
- Exchange-traded funds (ETFs)
- Cryptocurrencies
Market-linked investments can lose value for reasons unrelated to a bank failure. Holding them through a bank platform does not convert them into DICGC-insured deposits.
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When the insurance process becomes relevant
DICGC describes insurance liability for specified events, including liquidation of a bank, cancellation of its licence, qualifying restrictions imposed on depositors and certain merger or reconstruction outcomes. The existence of financial trouble alone should not be described as an automatic, instant payout trigger.
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The applicable event, the bank’s records and the statutory process determine how claims are handled. Depositors should follow notices from the bank, the Reserve Bank of India and DICGC, and keep account and identity records current so the bank can report an accurate balance.
All-Inclusive Directions: a conditional 90-day figure
For banks placed under All-Inclusive Directions, DICGC says claims are subject to settlement within 90 days provided the bank submits the depositor balance list within the statutory 45-day timeline. Both conditions matter. The 90-day statement is a process figure for that situation, not a universal promise that every insured claim in every failure will be paid within 90 days or that access to funds is immediate.
How to check whether your bank is insured
- Go to DICGC’s official insured-bank list.
- Search for the bank’s current legal name, taking care with similarly named institutions.
- Check the list close to the date you open or renew a deposit, because the list can change.
- If the listing is unclear, ask the branch or the bank’s official support channel to confirm its DICGC insurance status and how your accounts are recorded for aggregation.
DICGC reported that its insured-bank list was updated on September 22, 2026 when accessed. That date is a snapshot, not a permanent assurance; use the live list for a current check.
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Several products at one bank
You hold ₹2 lakh in savings, ₹2 lakh in a fixed deposit and ₹1 lakh in a recurring deposit at the same insured bank. Before interest, the total is ₹5 lakh. Any accrued interest that takes the combined balance above ₹5 lakh is outside the ceiling.
Two insured banks
You hold ₹6 lakh at Bank A and ₹3 lakh at Bank B. Bank A’s eligible balance is subject to its ₹5 lakh limit; Bank B’s ₹3 lakh is within its separate limit. The excess at Bank A is not made insured merely because the total across both banks is below ₹10 lakh.
Different legal capacities
You hold a personal savings account and separately administer money as a documented trustee. DICGC’s examples indicate that genuinely different capacities may be assessed separately. The bank’s legal records and the actual trust arrangement matter; a relabelled personal account is not enough.
Quick Recap
A checklist before relying on coverage
- Confirm that the institution appears on DICGC’s current insured-bank list.
- Add savings, fixed, current and recurring deposits across all branches of that bank.
- Include accrued interest in the total.
- Identify whether each account is held in the same right and capacity.
- Do not count mutual funds, securities, bonds, ETFs, cryptocurrency or NBFC deposits as DICGC-insured bank deposits.
- Retain statements, deposit receipts, nomination details and updated identity information.
- For joint, trustee, guardian, partnership or company-related accounts, ask the bank to explain its aggregation treatment in writing.
Key takeaways
- The ceiling is up to ₹5 lakh per depositor per insured bank, including principal and interest.
- All branches and eligible deposit types at one bank are combined when held in the same right and capacity.
- Different insured banks have separate limits.
- Genuine differences in legal capacity may be treated separately, but account labels alone do not guarantee separate coverage.
- Government, inter-bank, outside-India and specified exempt deposits are excluded, as are NBFC deposits and investment products such as mutual funds, securities, ETFs and cryptocurrencies.
- Claim timing depends on the qualifying event and statutory process; the 90-day All-Inclusive Directions figure is conditional on the bank’s 45-day balance-list submission.
- Verify the bank on DICGC’s live insured-bank list rather than relying on an old snapshot.
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