FDIC Insurance Calculator — Am I Fully Protected?
The FDIC insures up to $250,000 per depositor, per institution, per ownership category. If you have more than $250,000 saved or multiple accounts at the same bank, use this to check your coverage.
$250,000 per depositor, per insured bank, per ownership category. A couple with $500,000 at one bank can be fully covered if the account is joint (joint ownership gets $500,000 coverage). A single person with $500,000 at one bank is only $250,000 covered — the rest is uninsured. This calculator shows your coverage gap.
FDIC coverage categories explained
Single accounts — $250,000 per owner. If you have a checking account, savings account, and a CD at the same bank all in your name only, they are combined toward your single $250,000 single-ownership limit at that institution.
Joint accounts — $250,000 per co-owner. A 2-person joint account gets $500,000 total coverage at one institution. This coverage is separate from each co-owner’s individual single-account coverage at the same bank.
POD (Payable on Death) and beneficiary accounts — Each named beneficiary adds $250,000 of coverage per owner. One owner naming 3 beneficiaries gets $750,000 of coverage on that account at one institution. Two owners each naming 3 beneficiaries on a joint account get $1,500,000 of total coverage at one institution.
Retirement accounts (IRAs) — Traditional and Roth IRAs have a separate $250,000 limit at each institution, completely independent of your regular deposit coverage. An IRA and a savings account at the same bank do not share a coverage limit.
How to protect balances over $250,000
The simplest strategies for protecting larger balances:
- Spread across institutions — each FDIC-insured bank resets the coverage limit independently. $500,000 split evenly between two banks is fully covered with no special account setup required.
- Add beneficiaries — naming POD beneficiaries on a single-owner account increases coverage by $250,000 per beneficiary. This is the easiest way to increase coverage at one institution without opening new accounts.
- Convert to joint ownership — moving a single-owner account to joint ownership with a spouse or partner doubles coverage from $250,000 to $500,000 at that institution.
- Maintain a separate IRA — retirement funds in an IRA have their own $250,000 limit, separate from all deposit coverage.
Our HYSA comparison shows top-rated accounts across different institutions, making it easy to spread balances while still earning competitive rates.
Does FDIC coverage apply to online banks?
Yes. FDIC coverage applies identically to online banks and traditional brick-and-mortar banks. What matters is whether the institution is FDIC-insured, not whether it has physical branches. All accounts on YourBestSavings.com are verified FDIC-insured or NCUA-insured (for credit unions). NCUA insurance works the same way as FDIC coverage: $250,000 per member, per federally insured credit union, per ownership category.
Yes, if the online bank is FDIC-insured. FDIC coverage applies identically to online and brick-and-mortar banks. All institutions tracked on YourBestSavings.com are FDIC or NCUA insured.
Yes. CDs at FDIC-insured banks are covered up to the same $250,000 per depositor, per institution, per ownership category limits. If your CD matures and rolls over automatically, coverage applies to the new balance including all accrued interest.
The FDIC typically arranges for another institution to assume your CD, often with no interruption to the account. If no acquiring bank is found, the FDIC pays insured depositors directly within a few business days. No depositor has ever lost insured funds due to a bank failure in the FDIC’s history since 1933.
Yes. A joint account with 2 co-owners is insured for $250,000 per owner, so $500,000 total. Both owners must have equal ownership rights. This is the simplest way for couples to double their FDIC coverage at a single institution.
Each named POD (Payable on Death) or ITF (In Trust For) beneficiary adds $250,000 of coverage per account owner. A single owner naming 4 beneficiaries gets $1,000,000 of total coverage on that account at one institution. The beneficiaries do not need to be family members. Verify documentation requirements with your specific institution.
Yes, for money market deposit accounts (MMDAs) at insured banks. FDIC coverage applies to all deposit accounts: checking, savings, money market deposit accounts, CDs, and prepaid cards held at an insured bank. Investment products like stocks, bonds, mutual funds, and money market mutual funds are NOT covered by FDIC insurance even if purchased through an FDIC-insured bank.