Federal Deposit Insurance Corporation

Maximize Your FDIC Coverage

FDIC deposit insurance is $250,000 per depositor, per deposit 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 Web site.

*Account types include Discover Bank Online Savings, Money Market Accounts, CDs and IRAs.