Saving Account Tips: In case of bank collapse, only Rs 5 lakh is considered safe in the bank. The bank will refund you only this much money. Which you will get in 90% of claiming. Let us tell you how you can save your hard earned money from drowning.
Keep your money in different accounts, not one, money will not get trapped if the bank sinks
Saving Account Tips: Have you also saved your hard earned money in one account? If yes, then let us tell you, there is a risk of your money sinking by keeping money in the same account. As a rule, you can in one account 5 lakh Can’t keep savings of more than Rs. If you have 5 lakh rupees in your account deposit And Rs 3 lakh FD ie fixed deposit If you have deposited as deposit, you will get back only Rs 5 lakh if the bank collapses.
In case of bank collapse, only Rs 5 lakh is considered safe in the bank. The bank will refund you only this much money. Which you will get in 90% of claiming. Let us tell you how you can save your hard earned money from drowning.
read this also: What to do if there is more than 5 lakh deposits in banks, know what the rule says
This way you will save all your money
In the last 50 years hardly any bank has gone bankrupt in the country. Nevertheless, to save your money, you can reduce the risk by keeping the money in different banks. Keeping bank money in different banks will not affect your savings and your money will also be saved. Deposit insurance cover has been increased from Rs 1 lakh to Rs 5 lakh.
How to get the trapped money?
Including all the accounts of an individual in any bank, there is a guarantee of five lakh rupees. Means if you have made an FD (Fixed deposit) of Rs.5 lakh in the same bank and have also saved Rs.3 lakh in the same account, then you will get only Rs.5 lakh back if the bank collapses. Meaning, no matter how much money you have in your account, only up to 5 lakhs will be considered safe and you will get back the same amount of 5 lakhs.
