Bank Deposits: Insurance Cover

All deposits upto Rs 1 lakh in a commercial or cooperative bank in India are insured by the Deposit Insurance and Credit Guarantee Corporation of India DICGC. The insurance protection is available free of cost to the depositors and covers the principal and interest dues taken together. Deposits in different banks are separately insured with each deposit eligible for Rs1lakh cover. Insurance cover is available across savings accounts, current accounts, recurring and fixed deposit accounts.