FDIC Insurance Limit
The maximum amount the FDIC guarantees per depositor, per bank, per ownership category—currently $250,000.
What is FDIC Insurance Limit?
The Federal Deposit Insurance Corporation (FDIC) insures deposits at member banks up to $250,000 per depositor, per insured institution, per ownership category. The standard coverage limit has been $250,000 since the Emergency Economic Stabilization Act of 2008 made it permanent. Ownership categories include single accounts, joint accounts, retirement accounts (IRAs), revocable trust accounts, and others—each with its own $250,000 limit, allowing depositors to extend coverage beyond $250,000 at a single bank by using multiple ownership categories. FDIC insurance covers checking accounts, savings accounts, money market deposit accounts, and certificates of deposit, but not investment products such as stocks, bonds, or mutual funds.
Example
A married couple holds $300,000 in a joint savings account and $250,000 in individual checking accounts at the same bank. The joint account is insured up to $500,000 (each owner's $250,000 share), and each individual account is insured up to $250,000, giving the couple $1,000,000 of total FDIC coverage at one institution by using different ownership categories.
Source: FDIC — Your Insured Deposits