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| FDIC Estimator & FAQ |
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With EDIE, you can:
- Learn about deposit insurance
- Learn how FDIC calculates deposit insurance
- Estimate the adequacy of your deposit insurance
To Access EDIE
Click Here
What Is the FDIC?
The FDIC – short for the Federal Deposit Insurance Corporation – is an independent agency of the United States government. The FDIC protects you against the loss of your deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government. The term "insured bank" is used on this website to mean any bank or savings association with FDIC insurance.
Why Is FDIC Insurance Important to You?
All FDIC-insured banks must meet high standards for financial strength and stability. The FDIC, with other federal and state regulatory agencies, regularly reviews the operations of insured banks to ensure these standards are met. Even with these safeguards, some insured banks fail. If your insured bank fails, FDIC insurance will cover your deposits, dollar for dollar, including principal and any accrued interest, up to the insurance limit.
Historically, insured deposits are available to customers of a failed bank within just a few days. Since the start of the FDIC in 1933, no depositor has ever lost a penny of insured deposits.
What Does the FDIC Insure?
The FDIC insures all deposits at insured banks, including checking, NOW and savings accounts, money market deposit accounts, and certificates of deposit (CDs), up to the insurance limit.
The FDIC does not insure the money you invest in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if you purchased these products from an insured bank.
Basic Insurance Amount Is $250,000
The basic insurance amount is $250,000 per depositor per insured bank.
If you and your family have $250,000 or less in all of your deposit accounts at the same insured bank, you do not need to worry about your insurance coverage -- your deposits are fully insured.
Coverage Over $250,000
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership.
You may qualify for more than $250,000 in coverage at one insured bank if you own deposit accounts in different ownership categories.
FDIC Deposit Insurance Coverage of Non-Interest-Bearing Deposit Transaction Accounts
What is the Additional Coverage on Deposits?*
The FDIC will provide full deposit insurance coverage for non-interest bearing deposit transaction accounts, regardless of dollar amount. Click here for more information on the Dodd-Frank rule.
*Under the Dodd-Frank rule, all funds in "noninterest-bearing transaction accounts" will be insured in full by the FDIC from December 31, 2010 through December 31, 2012. The Dodd-Frank rule does not cover any transaction account that may earn interest, such as a NOW account or money market deposit account, even if checks are drawn on the account. Beginning January 1, 2011, such accounts no longer will be eligible for unlimited protection, but instead will be insured under the general insurance rules up to the Standard Maximum Deposit Insurance Amount of $250,000. A subsequent amendment extended full coverage to include Interest on Lawyers Trust Accounts (IOLTAs).
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