FDIC Insurance

FDIC Deposit Insurance Coverage

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, 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 (CDs). FDIC insurance does not cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or securities.

There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.

Basic FDIC Deposit Insurance Coverage Limits*

Most banks are members of the FDIC, a government agency that insures bank deposits. You are eligible for $250,000 of deposit insurance for all the deposits you own at one bank in each recognized ownership capacity. For example, all the deposits (CDs, checking accounts, etc.) you own at one bank in your own name are insured up to a total of $250,000. You are eligible for an additional $250,000 for all deposits you own at one bank in joint accounts and another $250,000 for Certain Retirement Accounts (includes IRAs).

Single Accounts (owned by one person)

$250,000 per owner

Joint Accounts (two or more persons)

$250,000 per co-owner

IRAs and certain other retirement accounts

$250,000 per owner

Trust Accounts

$250,000 per owner per beneficiary (subject to specific limitations and requirements)


* These deposit insurance coverage limits refer to the total of all deposits that an account holder (or account holders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

If you have questions about FDIC coverage limits and requirements, please visit FDIC.gov/deposit/deposits/dis, call toll-free (877) ASK-FDIC, or ask a representative at your bank.