Bank is member of Deposit Insurance and Credit Guarantee Corporation and it’s code No./Registration number is 43617/MH402. Bank cannot cancel its membership of DICGC and hence protection of Deposit insurance remains perpetual.

Protection of deposit insurance is guaranteed for the amount up to ₨5.00 lakh inclusive of amount of interest per person. Deposits kept in-one bank in all schemes together of one person or his firm cumulative up to ₨5.00 lakh is protected. Every Bank who is member of DICGC can give guarantee of the above amount to its depositors.

Saving A/c -- ₨ 100,000/-
Current A/c -- ₨ 250,000/--
Recurring Deposit -- ₨ 40,000/--
Fixed Deposit -- ₨ 200,000/--
Total -- ₨ 5,90,000/--
Out of above total amount of ₨ 5,90,000/- , -
₨ 5.00 lakh is only protected.-

If one person is having his joint A/c with many persons in a bank or by clubbing together such deposits from it’s various branches and having same serial of names in series, the amount together up to ₨ 5.00 Lakh will only be protected. But, if one person has joint A/c with many persons in bank or by clubbing together such deposits from it’s various branches and having different serial of names in series then each such deposit account will be protected up to ₨ 5.00 lakh. Example – A, B, C are three different persons and having accounts ‘ABC’, ‘CBA’, ‘CAB’, ‘ACB’ → each account insured separately up to ₨ 5.00 lakh.

Premium of insurance is paid by Bank and hence there is no burden of premium expenditure on depositors.