Interest will be paid on an account up to the date of closure of an institution, even if the maturity date of the account is beyond the date of closure.
Frequently Asked Questions
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- How does the closing of an institution affect interest accruing on a deposit?
- Are Mutual Funds insured?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.