Small Finance Banks (Suryoday, Unity, Equitas, Ujjivan) offer up to 9% FD rates. How the RBI Deposit Insurance and Credit Guarantee Corporation (DICGC) protects ₹5 Lakhs per depositor.
The ₹5 Lakh Statutory Insurance Blanket
Under the DICGC Act, every bank licensed by the Reserve Bank of India enjoys identical depositor insurance of up to ₹5,00,000 covering both principal and interest, making allocations within this limit virtually risk-free.