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FDIC Deposit Insurance Coverage |
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The Federal Deposit Insurance Corporation (FDIC) is an independent agency of theUnited States government that protects the funds depositors
place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC
was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.
FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of
deposit. FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares,
life insurance policies, annuities or securities.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if
they have funds in different ownership categories and all FDIC requirements are met. (For details on the requirements, go to www.fdic.gov/deposit/deposits.)
The following chart shows standard insurance amounts for FDIC account ownership categories. All deposits that an accountholder has in the
same ownership category at the same bank are added together and insured up to the standard insurance amount.
FDIC Deposit Insurance Coverage Limits 1
by account ownership category |
Single Accounts
owned by one person |
$ 250,000 per owner |
Joint Accounts
owned by two or more people |
$ 250,000 per co-owner |
Certain Retirement Accounts
includes IRAs |
$ 250,000 per owner |
Revocable Trust Accounts
includes IRAs |
$ 250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific limitations and requirements) |
| Corporation, Partnership and unincorporated Association Accounts |
$ 250,000 per corporation, partnership or unincorporated association |
| Irrevocable Trust Accounts |
$ 250,000 for the non-contingent, ascertainable interest of each beneficiary |
| Employee Benefit Plan Accounts |
$ 250,000 for the non-contingent, ascertainable interest of each plan participant |
| Government Accounts |
$ 250,000 per official custodian |
To calculate your deposit insurance coverage
Use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) at: www.fdic.gov/edie. |
For questions about FDIC coverage limits and requirements
Visit www.FDIC.gov/deposit/deposits, call toll-free 1-877-ASK-FDIC, or ask a representative at your bank. |
| 1 Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts will be fully insured, regardless of the amount in the account, at all FDIC-insured institutions. |
The more you know about FDIC deposit insurance coverage, the safer your money.
Depositors should understand their coverage limits and confirm that a financial institution is FDIC-insured.
The FDIC sign, displayed at every FDIC-insured institution, is a symbol of confidence for depositors.
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