500,000 yuan deposit insurance means that in China, if the sum of the principal and interest of an individual's deposit in the same bank does not exceed 500,000 yuan, the deposit will be fully guaranteed when the bank goes bankrupt or cannot repay. This means that even if the bank encounters bankruptcy or other risks, the deposit insurance fund will compensate the deposits of each account holder, with a maximum compensation amount of 500,000 RMB. It should be noted that this insurance system is not for every account, but for everyone. If a person's deposits are scattered in different accounts, when the total deposits in these accounts exceed 500,000 RMB, only the first 500,000 RMB can be guaranteed. The part exceeding 500,000 is not guaranteed and can be paid in proportion according to the bank liquidation.