FDIC insurance automatically covers traditional deposit accounts at insured banks up to specific limits, depending on the ownership category.
Coverage includes checking accounts, savings accounts, money market deposit accounts, certificates of deposit (CDs), and, under certain conditions, prepaid cards.
Ownership categories—such as single, retirement, joint, trust, and employee benefit plan accounts—each have coverage limits, generally up to $250,000 per owner per bank.
Joint accounts allow each co-owner to be insured for their share up to $250,000.
Trust accounts are insured based on the number of owners and beneficiaries with a maximum limit per owner of up to $1,250,000.
Employee benefit plan accounts insure each participant's non-contingent interests up to $250,000.
Corporate, partnership, unincorporated association, and government accounts are insured up to $250,000, with specific conditions for government depositors.
Not all bank products are FDIC-insured.
For detailed personal estimates, use the Electronic Deposit Insurance Estimator (EDIE) or contact the FDIC for more information.