The Federal Deposit Insurance Corporation (FDIC) insures deposits at insured banks and savings associations. This page restates the standard coverage limit and how it is counted, from the FDIC's own deposit insurance pages.
The standard limit
The standard FDIC deposit insurance limit is $250,000 per depositor, per insured bank, per ownership category. The FDIC states this limit on its deposit insurance pages. Coverage is backed by the full faith and credit of the United States, as the FDIC describes it. Confirm current rules on those official pages; this explainer does not replace them.
What is covered
- Checking, savings, and money market deposit accounts at FDIC-insured banks
- Certificates of deposit, including brokered CDs, issued by an FDIC-insured bank
- Official items such as cashier's checks issued by the insured bank
Deposits at NCUA-insured credit unions are covered by a separate federal insurer, the National Credit Union Administration, under a similar standard limit. That is not FDIC coverage.
What is not covered
- Treasury bills, notes, bonds, TIPS and FRNs, and savings bonds. These are Treasury securities, not bank deposits. See where to park cash for official rates side by side.
- Money market funds, stocks, bonds issued by companies, and other securities. SIPC may protect brokerage customers if the brokerage itself fails; it does not insure market value. See money market funds vs T-bills.
- The contents of a bank deposit box, and losses from fraud or theft that are not a bank failure.
Ownership categories
The FDIC counts coverage separately in each ownership category at the same bank. Common categories include single accounts, joint accounts, certain retirement accounts, and trust accounts, under the rules the FDIC publishes. Adding a joint owner or a beneficiary can change how much is covered at one bank, because the category or the number of owners changes. The FDIC's Electronic Deposit Insurance Estimator (EDIE) on fdic.gov walks through a specific set of accounts.
Brokered CDs
A brokered CD is still a deposit at the issuing bank. It counts toward the limit at that bank, together with any other deposits you hold there in the same ownership category, whether you opened them at a branch or through a brokerage. Check the issuing bank name on each CD. A longer walkthrough is on brokered CDs explained.
Rate caps are a separate rule
The FDIC also publishes national rates and rate caps. Those figures describe average deposit rates and a cap that applies to banks that are less than well capitalized. They are not insurance limits. Current national averages are on our CD and savings rates pages, dated from the FDIC release.
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Frequently asked questions
Does FDIC insurance cover Treasury bills?
No. Treasury bills, notes and bonds are obligations of the U.S. government. They are not deposits and are not FDIC-insured. Bank CDs, savings accounts and money market deposit accounts at FDIC-insured banks are deposits and are covered up to the limit.
How is coverage counted if I have accounts at more than one bank?
The standard limit applies per depositor, per insured bank, per ownership category. Amounts at two different insured banks are counted separately. Amounts at the same bank, including a brokered CD issued by that bank, are added together in the same ownership category.
Is a money market fund FDIC-insured?
No. A money market fund is an investment fund, not a bank deposit. A money market deposit account at an insured bank is a deposit and is covered up to the limit. See money market funds vs T-bills.
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