FDIC FAQ

Q. What types of accounts are eligible for FDIC insurance?

A. All deposit accounts at insured banks, including checking, NOW, savings accounts, money market deposit accounts and certificate of deposit accounts up to the insured limit.  Money you invest in stocks, bonds, mutual funds life insurance policies, annuities or municipal securities purchased through an insured bank are not covered.

Q. What is the standard maximum deposit insurance amount (SMDIA)?

A. The FDIC has permanently raised the current standard maximum deposit insurance amount (SMDIA) to $250,000.  The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.

Q. Is it possible to have more than $250,000 at one insured bank and still be fully covered?

A. You may qualify for more than $250,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.  You can learn more by visiting www.myfdicinsurance.gov.

Q.  How can I learn more about FDIC coverage?

A.  For specific questions about your accounts visit your local branch office or www.fdic.gov for more general information.