Invest intelligently in Fixed Deposits

As we all know that most scheduled banks are insured by the Indian Deposit insurance and credit guarantee corporation (DICGC) to an extent of Rs 100000.

If you invest a bit intelligently you can increase the quanum multifold . All you have to do is to make sure that the rules of RBI and DCGIC are followed.

The RBI site has detailed all guidelines as to how the Deposits should be slotted to get maximum benefits . Chk it out here 

Deposits held in joint accounts

Account (i) (Savings or Current A/C) First a/c holder- “A”
Second a/c holder – “B”
Maximum insured amount upto Rs.1 lakh
Account (ii) First a/c holder – “A”
Second a/c holder – “C”
Maximum insured amount upto Rs.1 lakh
Account (iii) First a/c holder – “B”
Second a/c holder – “A”
Maximum insured amount upto Rs.1 lakh
Account (iv) at Branch ‘X’ of the bank First a/c holder – “A”
Second a/c holder – “B”
Third a/c holder – “C”
Maximum insured amount upto Rs.1 lakh
Account (v) First a/c holder – “B”
Second a/c holder – “C”
Third a/c holder – “A”
Maximum insured amount upto Rs.1 lakh
Account (vi)
Recurring or
(Fixed deposit)
First a/c holder – “A”
Second a/c holder – “B”
The account will be clubbed with the a/c at (i)
Account (vii)
at Branch ‘Y’ of the bank
First a/c holder – “A”
Second a/c holder – “B”
Third a/c holder – “C”
The account will be clubbed with the a/c at (iv)
Account (viii) First a/c holder – “A”
Second a/c holder – “B”
Third a/c holder – “D”
Maximum insured amount upto Rs.1 lakh


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