Introduction
The FDIC Insurance Calculator shows you how much of your bank money is safe. If your bank fails, the FDIC pays you back, but only up to a limit. This tool tells you if you are under that limit or over it.
The basic rule is $250,000 per depositor, per insured bank, per ownership category. That last part matters. A single account, a joint account, a trust account, and a retirement account are each counted on their own. So one person can be covered for far more than $250,000 at the same bank.
To use the calculator, add each bank, then add each account. Enter the balance, pick the account type, and list the owners and any beneficiaries. You can add more than one bank, since your coverage starts fresh at every FDIC-insured bank.
The report shows your total deposits, your total insured amount, and any uninsured excess. You also get charts by bank and by category, plus step-by-step math so you can see how each number was found. A live bar at the bottom updates as you type.
Use the same name spelling for each person on every account. "Mary Jane Smith" and "M.J. Smith" are read as two different people, and that will give you the wrong answer.
How to use our FDIC Insurance Calculator
Enter your banks, your account details, and your balances. The calculator shows how much of your money is insured by the FDIC, how much is over the limit, and the math behind each ownership category.
Bank Name: Type the name of the bank that holds the account. Coverage limits start over at each bank.
FDIC Bank Lookup: Click this to find your bank by state, city, bank, and branch. Picking a bank fills in the name for you.
Add Another Bank: Click this to add a second, third, or later bank so you can see your full coverage in one report.
Account Nickname: Give the account a short name, like "Main Checking." This is only a label and does not change your coverage.
Account Classification: Pick Personal, Business, or Government. This choice changes the rest of the questions you see.
Deposit Type: Choose Demand Deposit Account (DDA) or Time and Savings Account.
Deposit Product: Pick the exact product: checking, money market (MMDA), savings, or CD.
Non-Interest Bearing Transaction Account (NIBTA): Answer Yes or No. The old unlimited NIBTA coverage ended in 2012, so normal limits still apply.
Non-Deposit Products: Check any funds, stocks, bonds, annuities, or crypto in the account. These are not FDIC insured, so leave them out of your balance.
Account Balance: Enter the current deposit balance in dollars. Use the same name spelling for each person on every account.
Ownership Type: For personal accounts, pick single, joint, POD/ITF, revocable trust, irrevocable trust, IRA, or other. This sets your coverage limit.
Owner Name and Living Status: Enter the full legal name of each owner and say if that person is living.
Account Holder Identifier: Add an optional note to tell apart people with similar names.
Co-Owners: For joint accounts, list at least two co-owners. Each co-owner gets an equal share of the balance.
Beneficiaries: For POD, ITF, or trust accounts, add each beneficiary's name and type. Say if a person is living, or if a charity is IRS recognized. Only eligible beneficiaries add coverage.
Interest Percent: If you name more than five beneficiaries, enter each one's share. The totals should add up to 100%.
Grantors and Trustees: For trust accounts, list who set up the trust and who manages it. Pick the grantor status for revocable trusts.
Trust EIN: Enter the trust tax ID as XX-XXXXXXX. It is required for irrevocable trusts.
Retirement Account Type: Choose the plan type, like Traditional IRA, Roth IRA, or Keogh. All retirement accounts at one bank share one $250,000 limit.
Sole Proprietorship and Public Unit Questions: Answer Yes or No. A Yes moves the account to the correct form, since these are not insured as normal business accounts.
Business Name, EIN, and Type: Enter the legal business name, the EIN as XX-XXXXXXX, and the entity type, such as corporation or LLC.
Authorized Signers: List the owners or people who can sign on the business account.
Government Entity, EIN, and Custodian: For public unit accounts, enter the entity name, its EIN, and the official custodian's name.
Public Unit Questions: Answer the three Yes or No questions about the custodian, the entity, and the bank's state. A No may mean the account does not get separate coverage.
Add Account: Add up to 20 accounts per bank so every deposit is counted.
Calculate: Click this to see your insured total, uninsured total, charts by bank and category, and step-by-step math.
Reset: Click this to clear your entries and start over with sample data.
Print Report: Click this to print or save your FDIC coverage report.
What Is FDIC Insurance?
FDIC insurance protects the money you keep in a bank. The FDIC (Federal Deposit Insurance Corporation) is a U.S. government agency. If an FDIC-insured bank fails, the FDIC pays you back your insured money, usually within a few days. No one has ever lost a penny of FDIC-insured deposits since the FDIC started in 1933.
The $250,000 Limit
The basic coverage limit is $250,000 per depositor, per insured bank, per ownership category. Those three parts matter a lot:
- Per depositor: each person gets their own coverage.
- Per bank: limits start over at each separate FDIC-insured bank. Two branches of the same bank share one limit.
- Per ownership category: the same person can be covered for much more than $250,000 at one bank if the money sits in different categories.
Ownership Categories
- Single accounts: owned by one person, no beneficiaries. All of them at one bank are added together and covered up to $250,000.
- Joint accounts: owned by two or more people with equal rights. Each co-owner is covered up to $250,000 for their share. Two people can have $500,000 covered in one joint account.
- Trust accounts: includes POD (payable on death), ITF (in trust for), and revocable or irrevocable trusts. Since April 1, 2024, coverage is $250,000 per owner for each beneficiary, up to five beneficiaries. The most one owner can get is $1,250,000 per bank, even with more beneficiaries.
- Retirement accounts: IRAs, Keoghs, and self-directed plans share one $250,000 pool per owner, per bank.
- Business accounts: a corporation, partnership, or LLC gets its own $250,000, separate from the owner's personal money. A sole proprietorship does not; that money is added to the owner's single accounts.
- Government (public unit) accounts: covered per official custodian, with separate limits for checking and for savings/CDs when the bank is in the same state.
What Is Covered and What Is Not
Covered: checking accounts, savings accounts, money market deposit accounts (MMDAs), certificates of deposit (CDs), and cashier's checks or money orders from the bank.
Not covered: stocks, bonds, mutual funds, annuities, life insurance, crypto, and safe deposit box contents. This is true even if you bought them at an FDIC-insured bank. Money market mutual funds are not the same as money market deposit accounts, and they are not insured.
How to Get More Coverage
You do not need to move to a new bank to get more protection. You can:
- Add a co-owner to an account, which adds up to $250,000.
- Name beneficiaries on a POD or trust account, which adds up to $250,000 each for the first five.
- Keep business, retirement, and personal money in their right categories.
- Spread extra cash across more than one FDIC-insured bank.
Things People Get Wrong
Spell every name the same way on every account. "Mary Jane Smith" and "M.J. Smith" can look like two different people and give you a wrong answer. Also check that your bank is truly FDIC-insured, not just a fintech app that says it works with a bank. Credit unions are not covered by the FDIC; they use the NCUA instead, which has its own $250,000 limit. If an owner dies, the FDIC gives a six-month grace period before coverage changes.