Beware of bankruptcy - bank (1)

What if banks, where we put our money inside, bankrupt ?

Money we deposit in banks are guaranteed to certain extent by Deposit Insurance.
See below for details of Deposit Insurance for Malaysia, Singapore and US.

Note which are the institutions under cover, type of deposit products covered and amount of the coverage..

PIDM (Perbadanan Insurans Deposit Malaysia)

PIDM handbook and other resources for download
read the handbook:
total coverage is 60k per depositor per member institution;
one good thing is joint accounts held with different people enjoy separate coverage limits, wow !

Examples of calculations
Quiz have some fun:-)

SDIC (Singapore Deposit Insurance Corporation)
SIDC website
coverage is 20k, aggregated (including joint account’s share) and net of liabilities.

FDIC (Federal Deposit Insurance Corporation)
FDIC website
Wow, basic insurance amount is 100k per depositor, per insured bank.. Generous :-)

IADI (International Association of Deposit Insurers)
IADI website
We can find list of countries with a deposit insurance system

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