DICGC Risk Optimiser: Maximize Your Bank Insurance

Check if your deposits across Indian banks exceed the DICGC insurance limit. Get smart suggestions to maximize your coverage.

Your Bank Deposits May Not Be as Safe as You Think

Let’s start with an uncomfortable truth.

Most Indians believe their entire bank balance is safe — protected by the government, the RBI, or some invisible financial safety net. But that’s not quite how it works. If your bank faces a crisis tomorrow, the bank insurance DICGC scheme will only protect you up to ₹5 lakh — and not a single rupee more.

That’s where the DICGC Risk Optimiser comes in. It’s a free, easy-to-use web app designed specifically for Indian depositors — beginners, salaried professionals, retirees, and investors alike — to check how much of their deposits are actually insured and how to restructure their savings for maximum protection.

In this guide, we’ll walk you through everything: what DICGC insurance is, how much it covers, which banks are not covered under DICGC, how the premium system works, and how the DICGC Risk Optimiser web app helps you take control of your financial safety — all in one place.

What Is DICGC and Why Does It Matter?

DICGC stands for the Deposit Insurance and Credit Guarantee Corporation. It is a wholly-owned subsidiary of the Reserve Bank of India (RBI), established in 1978. Its sole purpose is to protect depositors if a bank fails, goes into liquidation, or has its licence cancelled.

Think of it like insurance for your bank account — except you don’t pay for it. The bank does.

Here’s the key number you need to remember:

₹5,00,000 — the maximum DICGC insurance amount per depositor, per bank, covering both principal and interest.

This limit covers your savings account, fixed deposits, recurring deposits, and current account — all combined — at a single bank. As of March 2025, DICGC insured 97.6% of bank accounts by number and 1,982 banks across India are part of the scheme.

How Is the DICGC Insurance Premium for Banks Calculated?

Here’s something most depositors never think about: banks pay DICGC a premium to keep you insured. The premium rate is 12 paise per ₹100 of assessable deposits (i.e., 0.12% per annum or 0.06% per half-year).

Banks pay this twice a year, calculated on total deposits from the last day of the preceding half-year. For example, for the half-year ending September 2024, the deposit base used is March 31, 2024 — and payment must be made by May 31, 2024. If a bank delays payment, it pays a penal interest of 8% above the bank rate.

The good news? You pay nothing. Your bank insurance DICGC coverage is automatic and free for the depositor.

DICGC Risk Optimiser: What the Web App Does

The DICGC Risk Optimiser is a smart, intuitive web app that does one powerful thing — it helps you figure out exactly how much of your total savings is currently insured under DICGC, and what you can do to extend that coverage.

Most people don’t realise they’re underinsured until it’s too late. The web app removes that blind spot.

Here’s what you can do with it:

• Enter your deposits across one or more banks and account types.
• Instantly see how much is insured and how much is at risk.
• Get smart recommendations on how to split deposits across banks to maximise your DICGC coverage.
• Check the DICGC insured banks list to verify if your bank is covered.
• Simulate scenarios — like what happens if you add a joint account or spread across a Small Finance Bank.

Whether you’re a first-time FD investor or someone with ₹30 lakh in deposits across three banks, the DICGC Risk Optimiser gives you clarity in minutes — no financial jargon, no complicated math.

What Is the Maximum Deposit Amount Insured Per Person by RBI DICGC?

This is one of the most searched questions in Indian personal finance — and the answer is straightforward.

The maximum deposit amount insured per person by RBI DICGC is ₹5,00,000 (Rupees Five Lakhs). This limit applies per depositor, per bank, and covers both the principal and accumulated interest together.

This limit was last revised in February 2020 — raised from ₹1 lakh (the previous cap that had been unchanged for decades). As of early 2025, there are ongoing discussions about raising this limit further to ₹8–₹12 lakh, particularly following the New India Co-operative Bank crisis in February 2025.

How the ₹5 Lakh Limit Actually Works in Practice

Let’s say you have the following at the same bank:

• Savings Account balance: ₹1,50,000
• Fixed Deposit: ₹3,00,000
• Recurring Deposit: ₹80,000
• Accrued interest: ₹40,000

Total: ₹5,70,000 — but only ₹5,00,000 is insured. The remaining ₹70,000 has no DICGC protection.

This is exactly why the DICGC Risk Optimiser was built — to catch scenarios like this before they become a problem.

Which Banks Are Covered Under DICGC? (And Which Are NOT)

Banks Covered by DICGC Insurance

As of 2025, the following categories of banks are fully covered under DICGC bank insurance:

• All Public Sector Banks (SBI, PNB, Bank of Baroda, Canara Bank, etc.)
• All Private Sector Banks (HDFC, ICICI, Axis, Kotak, Yes Bank, etc.)
• All Foreign Banks operating in India (Citibank, HSBC, Deutsche Bank, etc.)
• All Regional Rural Banks (RRBs)
• All Local Area Banks
• All Small Finance Banks (AU, Ujjivan, Jana, Equitas, ESAF, Suryoday, Utkarsh, etc.)
• All Payments Banks (Airtel Payments Bank, India Post Payments Bank, etc.)
• All Co-operative Banks registered with and regulated by RBI

You can download the complete DICGC insured banks list PDF directly from the official DICGC website (dicgc.org.in), which is updated regularly.

Which Banks Are NOT Covered Under DICGC?

This is critical. The following are not covered under DICGC deposit insurance:

• Primary Co-operative Credit Societies (these are not banks)
• NBFCs — Non-Banking Financial Companies like Bajaj Finance, Shriram Finance, Mahindra Finance
• Post Office Schemes — while government-backed, they are NOT DICGC insured (they carry a sovereign government guarantee instead)
• Mutual Funds and Bonds — not deposits, hence not covered

This is a common source of confusion. Many investors put significant money in NBFC fixed deposits attracted by higher interest rates — without realising there is zero DICGC protection on those deposits. The DICGC Risk Optimiser helps you identify these gaps instantly.

DICGC Risk Optimiser: A Practical Bank Insurance DICGC Example

Let’s walk through a real-world bank insurance DICGC example to see how powerful this strategy can be.

Meet Kavitha, a 47-year-old IT professional from Bengaluru. She has ₹18 lakh saved up, distributed like this:

Kavitha thought she was safe. She wasn’t. Over ₹8.5 lakh — nearly half her savings — had no DICGC protection.

After using the DICGC Risk Optimiser, she restructured her deposits:

100% of her savings are now fully insured — and she moved out of the uninsured NBFC deposit. The DICGC Risk Optimiser made this restructuring clear in under five minutes.

Key Benefits of Using the DICGC Risk Optimiser Web App

Here’s a quick look at what makes this web app genuinely useful:

• Instant coverage gap detection — See exactly which portion of your savings is unprotected right now.
• Multi-bank simulation — Model how spreading deposits across 2, 3, or 4 banks changes your total insured amount.
• Joint account optimiser — Understand how adding a joint account holder creates a separate ₹5 lakh coverage layer.
• NBFC and non-bank alerts — Automatic flags when you enter deposits in non-insured institutions.
• Best bank insurance DICGC suggestions — The app recommends DICGC-covered banks with competitive FD rates, helping you optimise both safety and returns.
• DICGC insured banks list access — Verify any bank’s coverage status without visiting a separate website.
• Free, no login required — No personal data stored, no sign-up hassle. Open and use immediately.

Smart Tips to Maximise Your DICGC Bank Insurance Coverage

Whether you use the web app or not, these tips will help you get the most out of India’s deposit insurance system:

1. Keep total deposits per bank (including interest) under ₹5 lakh. The ₹5 lakh limit includes accrued interest, so a ₹4.8 lakh FD will breach the ceiling once interest accumulates. Review balances every 6 months.

2. Open accounts at multiple banks. Each bank gives you a fresh ₹5 lakh protection. Spreading ₹20 lakh across four banks can make the entire amount 100% insured.

3. Use joint accounts strategically. A joint account at the same bank is treated as a separate depositor “capacity” and gets its own ₹5 lakh insurance — separate from your individual accounts at the same bank.

4. Never rely on NBFCs for DICGC protection. NBFC FDs are not covered. If safety is your priority, stick to RBI-licensed banks. If you invest in NBFCs, treat it as a risk-on decision.

5. Verify coverage on the DICGC insured banks list PDF. Before opening an account anywhere (especially smaller co-operative banks), verify the bank’s DICGC status on dicgc.org.in.

6. Watch for limit revisions. The DICGC insurance amount has a history of periodic revisions. Stay informed — if the limit increases to ₹8–₹12 lakh as being discussed in 2025, your restructuring strategy may need an update.

DICGC Insurance Comparison: Banks vs. Other Deposit Options

The DICGC Risk Optimiser helps you navigate this landscape and build a deposit portfolio that is both high on returns and maximum on protection.

FAQs: Bank Insurance DICGC — Answered for Google Featured Snippets

Q1. What is the maximum deposit amount insured per person by RBI DICGC?

The maximum deposit amount insured per person by RBI DICGC is ₹5,00,000 (Rupees Five Lakhs) per bank. This covers both principal and interest held in the same right and capacity. The limit applies across all branches of the same bank combined.

Q2. Which banks are not covered under DICGC?

DICGC does not cover deposits in NBFCs (like Bajaj Finance, Shriram Finance), Post Offices (though these have a sovereign guarantee), primary cooperative credit societies, or investments in mutual funds or bonds. Only deposits in RBI-licensed commercial and co-operative banks are insured under DICGC.

Q3. Where can I find the DICGC insured banks list PDF?

The official and regularly updated DICGC insured banks list PDF is available on the DICGC’s official website at dicgc.org.in. As of 2025, 1,982 banks including all commercial banks, regional rural banks, small finance banks, payments banks, and co-operative banks are covered.

Q4. What is the DICGC insurance premium for banks?

Banks pay a premium of 12 paise per ₹100 of assessable deposits (0.12% per annum) to DICGC. This is paid in two instalments every financial half-year. Depositors pay nothing — the premium is entirely borne by the bank. Late payment attracts a penalty of 8% above the bank rate.

Q5. What is the best bank insurance DICGC strategy for large depositors?

The best approach is the DICGC Risk Optimiser strategy: spread deposits across multiple DICGC-insured banks, keeping the total at each bank (including interest) below ₹5 lakh. Use joint accounts to unlock additional coverage layers at the same bank. This lets you insure any amount of savings — ₹10 lakh, ₹20 lakh, or more — completely.

Q6. How does the DICGC Risk Optimiser web app work?

The DICGC Risk Optimiser is a free web app where you enter your deposit details across banks and institutions. It instantly calculates how much is insured versus at risk and provides personalised recommendations to restructure your savings for full DICGC coverage. It also alerts you if any of your deposits are in non-covered institutions like NBFCs.

Conclusion: Don’t Leave Your Savings Unprotected

Here’s the reality: most people in India are partially uninsured and don’t know it. Either their deposits at a single bank exceed ₹5 lakh, or they have money parked in NBFCs assuming it’s safe under DICGC, or they simply haven’t thought about this at all.

The DICGC Risk Optimiser web app changes that. It turns a complex, confusing system into a simple, visual, actionable plan — in minutes, for free.

You’ve worked hard for your savings. A bank failure shouldn’t wipe them out — and with the right strategy, it won’t.

👉 Use the DICGC Risk Optimiser web app today. Check how much of your deposits are truly protected, identify the gaps, and restructure for complete peace of mind. Because financial security shouldn’t be left to chance.