DICGC Deposit Insurance Checker

Is every bank in India covered by DICGC?

Almost all commercial banks, regional rural banks, local area banks, and most cooperative banks operating in India are registered with and insured by the DICGC. Primary cooperative societies are not covered. You can verify any specific bank using the checker above.

Are cooperative banks covered by deposit insurance?

Yes, state, central, and urban cooperative banks are covered by DICGC up to the same ₹5,00,000 limit. However, a few cooperative banks under RBI restriction may have suspended coverage — always verify the current status before depositing large amounts.

Are fixed deposits (FDs) covered under DICGC?

Yes. DICGC covers savings accounts, current accounts, fixed deposits, and recurring deposits. The ₹5,00,000 insurance is calculated on the combined principal and interest across all your accounts in the same bank.

Is the ₹5,00,000 limit per account or per bank?

It is per depositor, per bank — not per account. If you hold ₹3,00,000 in savings and ₹4,00,000 in an FD at the same bank, your total of ₹7,00,000 is insured only up to ₹5,00,000. To insure more, spread deposits across different banks.

Does the ₹5 lakh cover both principal and interest?

Yes. The insurance limit of ₹5,00,000 applies to the principal plus accrued interest together, as on the date of liquidation or licence cancellation of the bank.

How are joint accounts insured by DICGC?

Deposits held in different ownership capacities (e.g., individual vs. joint, or joint accounts with different name order) are insured separately, each up to ₹5,00,000. This is a legitimate way to increase total coverage within one bank.

How quickly does DICGC settle claims?

Under the 2021 amendment, DICGC must pay insured depositors within 90 days of a bank being placed under RBI moratorium or directions, even before liquidation. Earlier, payouts could take years.

Are deposits in payment banks insured?

Yes. Payment banks are DICGC-insured, but by regulation they can hold a maximum of ₹2,00,000 per customer — which is fully within the ₹5,00,000 insurance limit.

What is NOT covered by DICGC?

Deposits of foreign governments, central/state governments, inter-bank deposits, deposits of State Land Development Banks with the State Cooperative Bank, and any amount above ₹5,00,000 per depositor per bank are not insured.

Do I have to pay for DICGC insurance?

No. The deposit insurance premium is paid entirely by the bank to DICGC. Depositors are covered automatically at no cost the moment they open an insured account.