FDIC Deposit Insurance Coverage Calculator
Accounts owned by one person alone (Checking, Savings, CDs).
Traditional, Roth, SEP, and SIMPLE IRAs held at the bank.
Estimated Coverage Summary
Total Deposited:
$0.00
Total Insured (Covered):
$0.00
Total Uninsured:
$0.00
Understanding FDIC Insurance Limits
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. Knowing how coverage works can help you structure your finances for maximum protection.
Standard Insurance Coverage Limits
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The categories are the primary way the FDIC differentiates your funds to provide additional coverage beyond a single $250,000 limit.
Common Ownership Categories
- Single Accounts: Owned by one person with no beneficiaries. All single accounts at the same bank are added together and insured up to $250,000.
- Joint Accounts: Owned by two or more people. Each co-owner is insured up to $250,000 for their combined interests in all joint accounts at the same bank. For example, a couple with one joint account is insured up to $500,000.
- Revocable Trust Accounts: These include "In Trust For" (ITF) or "Payable on Death" (POD) accounts. Generally, a depositor is insured up to $250,000 for each unique primary beneficiary.
- Certain Retirement Accounts: Includes IRAs (Traditional, Roth, SEP, SIMPLE). These are insured up to $250,000 in aggregate at one bank, separate from your other accounts.
Example Calculation
If you have $300,000 in a personal savings account (Single Category) and $400,000 in a joint account with your spouse (Joint Category):
| Account Type | Balance | Insured Amount |
|---|---|---|
| Single Account | $300,000 | $250,000 |
| Joint Account (2 owners) | $400,000 | $400,000 |
| Total | $700,000 | $650,000 |
In this scenario, $50,000 of the Single Account would be uninsured because it exceeds the $250,000 limit for that specific category.
How to Maximize Your Coverage
If your deposits exceed $250,000, you can increase your protection by:
- Using different ownership categories: Move excess single funds into a joint account or a trust account.
- Opening accounts at different banks: FDIC limits apply "per bank." Having $250,000 at Bank A and $250,000 at Bank B ensures both are fully covered.
- Adding beneficiaries: For trust accounts, adding more unique beneficiaries can significantly increase your coverage limit (at $250,000 per beneficiary).
Disclaimer: This calculator provides an estimate based on standard FDIC rules. For complex trust structures or corporate accounts, please consult with your financial institution or visit the official FDIC Electronic Deposit Insurance Estimator (EDIE).