Not a lie.

Deposit insurance depositors do not need to pay premiums.

Deposit insurance, also known as deposit protection, refers to the state setting up a special deposit insurance fund through legislation to clarify that when individual financial institutions encounter problems in their operations, depositors will be reimbursed in a timely manner in accordance with regulations to protect the rights and interests of depositors.

Deposit insurance, firstly, the deposit insurance fund management agency serves as the takeover organization for the insured institution.

Second, the deposit insurance fund management agency implements the liquidation of canceled insurance institutions.

Third, the People's Court ruled to accept the bankruptcy application against the insurance institution.

Fourth, other circumstances approved by the State Council.

The sources of deposit insurance funds mainly include the following four aspects: First, the premiums paid by insurance institutions.

The second is the property distributed in the liquidation of the insured institution.

The third is the income obtained by deposit insurance fund management institutions from using deposit insurance funds.

The fourth is other legal income.

The management of deposit insurance funds is based on the approval of the State Council. The deposit insurance fund is set up in a special account by the People's Bank of China, which is managed separately and separately accounted for. The management work is undertaken by the People's Bank of China to ensure the safety of the deposit insurance fund.

The "Deposit Insurance Regulations" stipulate that the use of deposit insurance funds shall follow the principles of safety, liquidity, value preservation and appreciation, and shall be limited to deposits with the People's Bank of China and investment in government bonds, central bank bills, financial bonds with higher credit ratings and other high-grade bonds.

and other forms of fund use approved by the State Council.

Practice has proven that the deposit insurance system plays an important role in protecting the rights and interests of depositors, timely preventing and resolving financial risks, and maintaining financial stability.

So, if you hear news about bank closures, etc., please stay sensible and don't believe the rumors.

Under normal circumstances, all banks have deposit insurance logos. For example, commercial banks, rural credit cooperatives, rural cooperative banks and other banking financial institutions all have deposit insurance logos.