FDIC Deposit Insurance

What you need to know about the FDIC

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The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United 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 FDIC 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.

by account ownership category
Single Accounts
owned by one person

$ 250,000 per owner

Joint Accounts
owned by two or more persons

$ 250,000 per co-owner

Certain Retirement Accounts
includes IRAs

$ 250,000 per owner

Revocable Trust Accounts

$ 250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific conditions 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
(more coverage available subject to specific conditions)

For More Information from the FDIC

Call toll-free

1-877-ASK-FDIC (1-877-275-3342)

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Calculate insurance coverage

Use the FDIC’s online Electronic Deposit Insurance Estimator (EDIE).

Read more about

FDIC insurance online