How much does the FDIC insure your bank deposits for?

The Federal Deposit Insurance Corporation (FDIC) insures bank deposits up to $250,000 per depositor, per insured bank, for each account ownership category. This means that if you have deposits in different ownership categories, such as individual accounts, joint accounts, or retirement accounts, you could potentially have more than $250,000 insured at the same bank.

This insurance protects depositors in the event of a bank failure, ensuring that they do not lose their savings. The limit was increased to $250,000 in 2010, and it is important for individuals to be aware of this limit when managing their savings and investments to ensure that their deposits are fully protected.