Fixed deposits

Are fixed deposits with private companies and banks secured in case the company/banks close down?

asked Nov 06 '11 at 08:29 by darshan 1344

RBI's Deposit Insurance and Credit Guarantee Corporation (DICGC) protects deposits held in any any nationalized or private sector bank or co-operative bank in India upto a limit of 1 lakh per account. In case bank closes down or become bankrupt, RBI pays 1 lakh to the depositor.

But this protection is not available with company fixed deposits, that's the reason corporate fixed deposits are considered riskier than bank fixed deposits.

answered Nov 06 '11 at 15:48 by Pankaj Batra 5.2k320


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Asked: Nov 06 '11 at 08:29

Seen: 1,881 times

Last updated: Nov 06 '11 at 15:50