Despite the fact that placing funds on a bank deposit taking into account inflation can bring not so much income, this method of investment has an undeniable advantage: deposits in banks are insured. What is the amount of insurance indemnity that can be counted on?
The deposit insurance system was formed in Russia in 2004 on the basis of Federal Law No. 177-FZ dated December 23, 2003 "On the insurance of individuals' deposits in banks of the Russian Federation". Its main goal was and remains the protection of the rights and legitimate interests of individuals who place temporarily free funds in banks of the Russian Federation, thereby supporting the domestic banking system. The idea of the deposit insurance system is that in the event of financial difficulties or even bankruptcy of the bank in which the individual has deposited funds, he will receive insurance compensation corresponding to the size of the deposit amount. Moreover, the deposit insurance system even presupposes compensation of interest on the deposit, which should have been accrued at the time of the bankruptcy of the bank on the basis of the terms of the agreement concluded between him and the depositor.
The maximum amount of the insured deposit
The amount of funds that are insured within the system is established by Article 11 of Federal Law No. 177-FZ of December 23, 2003 "On Insurance of Individual Deposits in Banks of the Russian Federation". Today this value is 700 thousand rubles. At the same time, initially, when the law was adopted, the limit of this amount was only 100 thousand rubles, but subsequently it was repeatedly increased. Currently, a bill has been submitted to the State Duma of the Russian Federation to increase the amount of insured deposits to 1 million rubles.
Deposit insurance in a specific bank
Article 6 of Federal Law No. 177-FZ of December 23, 2003 "On Insurance of Individual Deposits in Banks of the Russian Federation" establishes that the participation of banks operating in our country in the deposit insurance system is mandatory. Therefore, in accordance with the law, any deposits in any bank must be insured. However, to ensure your own peace of mind, it will not be superfluous to make sure that the bank you have chosen is a member of the deposit insurance system. This can be done in person at the bank's office or on the organization's website, where the "Deposits are insured" graphic logo must be present.
