What is covered by the Federal Deposit Insurance Corporation (FDIC) deposit insurance?
FDIC insurance covers all types of deposits received at an insured bank, including deposits in checking, NOW, and savings accounts, money market deposit accounts, and time deposits such as certificates of deposit (CDs). The table below, which is available on the FDIC website, illustrates the new coverage limits*: Single Accounts (owned by one person) $250,000 per owner Joint Accounts (two or more persons) $250,000 per co-owner IRAs and certain other retirement accounts $250,000 per owner Corporation, Partnership and Unincorporated Association Accounts $250,000 per corporation, partnership or unincorporated association Non-interest Bearing Transaction Accounts (including personal or business accounts) Unlimited coverage – only at participating FDIC-insured banks and savings associations ** *Temporarily increased through December 31, 2013. **Unlimited deposit insurance coverage is available through December 31, 2010, for non-interest bearing transaction accounts at institutions participa
