FDIC Deposit Insurance Calculator
Estimate your insurance coverage for funds held in FDIC-insured banks.
Single Account (One Owner)
Joint Account (Two or More Owners)
Certain Retirement Accounts (e.g., IRA)
Revocable Trust Accounts
Status:
Insurance Limit:
Amount Insured:
Amount Uninsured:
Understanding FDIC Insurance Coverage
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects bank depositors against the loss of their insured deposits if an FDIC-insured bank fails. Since 1933, no depositor has lost a penny of FDIC-insured funds.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Understanding these categories is the key to maximizing your protection.
Common Ownership Categories
- Single Accounts: Accounts owned by one person. Coverage is up to $250,000 for the combined total of all single accounts at the same bank.
- Joint Accounts: Accounts owned by two or more people. Each co-owner is insured up to $250,000. For example, a joint account with two owners is insured up to $500,000.
- Retirement Accounts: Includes IRAs (Traditional, Roth, SEP, SIMPLE). These are insured up to $250,000 in total across all qualifying retirement accounts at the same bank.
- Trust Accounts: These involve a donor and beneficiaries. Generally, coverage is $250,000 per unique beneficiary, subject to specific FDIC rules.
Realistic Example:
If you have a personal savings account with $200,000 and a joint account with your spouse containing $600,000 at the same bank:
– Your personal account is fully insured ($200,000 < $250,000).
– The joint account is insured up to $500,000 ($250,000 for each of you).
– Total Uninsured: $100,000 from the joint account.
If you have a personal savings account with $200,000 and a joint account with your spouse containing $600,000 at the same bank:
– Your personal account is fully insured ($200,000 < $250,000).
– The joint account is insured up to $500,000 ($250,000 for each of you).
– Total Uninsured: $100,000 from the joint account.
What is NOT Covered?
It is crucial to remember that the FDIC does not insure investments, even if purchased at a bank. This includes:
- Stock investments
- Bond investments
- Mutual funds
- Crypto assets
- Life insurance policies
- Annuities
- Municipal securities