Bank deposit amount : Nowadays, people open more than one account in the same branch to avail the benefits of government schemes and for other purposes. Because there is a risk of losing your money by keeping money in only one account.
Whenever a government or private bank goes bankrupt, customers worry about what will happen to the money in the bank in which they have deposited. At the same time, many people remain rest assured that their money kept in banks is completely safe (bank collapses money back rules). Let us tell you that after the bank collapses, you get back only a fixed amount. You can know about this in detail in the news that if the bank suddenly sinks, how much of your money will be safe (cash deposit rules in banks).
This is the rule regarding money in case of bank collapse
Nowadays, people open more than one account in the same branch to avail the benefits of government schemes and for other purposes. Because there is a risk of losing your money by keeping money in only one account. According to the rules of the bank, if you open an account then you can save in it (how much money is safe in the bank).
But it is not necessary that you will get the full amount if the bank collapses. If the amount deposited is less than Rs 5 lakh then you will get the full amount but if it is more then you will get only Rs 5 lakh in case the bank collapses. Suppose if you have deposited Rs 5 lakh in your account and have saved Rs 3 lakh as fixed deposit and the bank is on the verge of collapse, then when the bank collapses, the customers will get only Rs 5 lakh (how much money safe in bank). Only payment will be made.
You will get only this much money
However, very few people know whether you will get your money if the bank collapses or not and if so, how much will you get? Let us tell you that only an amount of Rs 5 lakh is considered safe in the bank. In the event of bank failure, the bank will pay you only this amount. Which you will get within 90 days of making the claim.
Apart from this, if you have opened multiple accounts in different branches of the same bank and have saved more than Rs 5 lakh in that account (deposit amount in bank), then also you will get a claim of Rs 5 lakh only. Therefore, many people open accounts in different banks and deposit money.
You can save money in this way
However, the chances of the bank going bankrupt (bank refund dicgc rules) are very less because hardly any bank has gone bankrupt in the country in the last 50 years. But still, if you want, you can reduce your risk by keeping your money in different banks to save it.
By doing this there will be no impact on your savings and your money will also be saved from being lost. It is also worth noting that now the limit of deposit insurance cover has also been increased (rules regarding bank bankrupt). It has been increased from Rs 1 lakh to Rs 5 lakh.
Guarantee of five lakh rupees
If you have opened accounts in your name in multiple branches of the same bank, then all the accounts will be considered as one and together there is a guarantee of Rs 5 lakh. This means that if the bank collapses, you will get back only Rs 5 lakh, although you may have more than this amount deposited in many of your accounts. If you have made an FD of Rs 5 lakh in the same bank and have also saved Rs 3 lakh in the same bank account, then if the bank collapses, you will get only Rs 5 lakh.
Even if the amount in your bank is more than Rs 5 lakh, only up to Rs 5 lakh will be considered safe and you will get the same amount after claiming.
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