FDIC Insurance Coverage and Ownership Categories
Maximize Your FDIC Coverage
FDIC deposit insurance is $250,000 per depositor, per deposit ownership category. The FDIC provides separate insurance coverage for funds that depositors may have in different categories of legal ownership. The FDIC refers to these different categories as ownership categories.
This means that each ownership category you have at the same bank is separately insured:
- The FDIC adds together all single accounts owned by the same person at the same bank and insures the total up to $250,000.
- Every joint account that an individual owns at the same insured bank are added together with his or her other joint account shares at the same bank, and the total is insured up to $250,000.
- The FDIC adds together all Roth, Traditional, SEP and SIMPLE retirement accounts owned by the same person at the same insured bank and insures the total amount up to $250,000.
Here's one way a household can have $1,500,000 of FDIC insurance:
Two Person Household |
|||
|---|---|---|---|
| Accountholders Within a Household | Account Type | Account Balance | |
| Accountholder 1 | Individual Money Market or CD Account | $ 250,000 | |
| Accountholder 2 | Individual Money Market or CD Account | $ 250,000 | |
| Accountholder 1 | Traditional and/or Roth IRA CD |
$ 250,000 | |
| Accountholder 2 | Traditional and/or Roth IRA CD |
$ 250,000 | |
| Accountholder 1 & 2 |
Joint Online Savings, Money Market or CD Account | $ 500,000 | |
| Total Deposits per Household$ 1,500,000 | |||
| Total Amount Insured$ 1,500,000 | |||
Here's one way a single depositor can be covered up to $500,000:
One Person Household |
|||
|---|---|---|---|
| Accountholders Within a Household | Account Type | Account Balance | |
| Accountholder 1 | Individual Online Savings, Money Market or CD Account | $ 250,000 | |
| Accountholder 1 | Traditional and/or Roth IRA CD | $ 250,000 | |
| Total Deposits per Household $ 500,000 | |||
| Total Amount Insured $ 500,000 | |||
Find more help calculating your coverage with the official FDIC Coverage Calculator. For more information about FDIC insurance coverage of transaction accounts, visit the official FDIC website.