The insurance coverage provided by the FDIC for a savings account is ________ per depositor per insured financial institution.

Question

Quizplus · Accepted Answer

The FDIC provides coverage of up to $250,000 per depositor per insured financial institution for each ownership category. This means that if an individual has multiple accounts with the same bank (e.g. a checking account, savings account, and CD), each account is covered up to $250,000, as long as they are in different ownership categories (e.g. individual account, joint account, trust account). Having more than one account with the same ownership category does not increase the coverage amount.

The Insurance Coverage Provided by the FDIC for a Savings