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After the deposit in the bank, every single penny is insured. Once we deposit in bank, it's become the bank responsibility to take care your amount (deposit). Thanks
Yes , I think Its Insured By Central Bank .
I would prefer the term 'guaranteed' rather than 'insured' as the latter connotes the involvment of third party (the insurer). Since the amount deposited in the account is , legally speaking, a loan to the bank, the bank therefore is obliged to make the repayment once requested the its customer. Therefore, we can say your money is guaranteed.
However, in the circumstance where the bank is not be able to make such repayment(for whatever reason), the amount might be recovered through certain mechanism, depending on the jurisidiction which the bank is operating in. For instance, in the case of Malaysia, the Government has set up an agency by the name PIDM which is functioning as the insurer. Nevertheless, the insured amount is capped up to only MYR 25000.
Thanks for invitation,
As a matter of fact, it is not really insured, but it is been protected by central banks whom they are setting a percentage from total bank's deposits as a "Legal Reserve", which has to be redeposited by all banks with the country's central bank , (free of interest), to protect clients deposits against any bank's insolvency.
Ya, Of course the deposits in my bank account insured
We can't say "Insured" but we can say "Safed" but if bank give us a assets then it may be a "Insured"
