Finance Questions - FDIC rules for Single Accounts

FDIC Rules for Single Accounts

How are single accounts treated for FDIC insurance purposes?

A single account or an individual account under FDIC insurance is owned by one person or entity - all single ownership accounts belonging to the same person at the same institution are added together.

The total is insured up to a maximum of $100,000. All types of accounts received by a financial institution in its usual course of business are insured such as: savings, checking, Now, Christmas club and time deposit accounts (CD's).

Example: Depositor A, an individual, maintains four accounts at First Savings Bank.

Type of Account	Amount
Savings	$ 25,000
CD	$ 25,000
Now	$ 100,000
Checking	$ 25,000
Total Value	$ 175,000
Maximum FDIC Insurance	$ (100,000)
Uninsured Amount:	$ 75,000

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