Exploring the Scope of FDIC Insurance on Certificates of Deposit
Sunday, 9 June 2024, 11:00
FDIC Insurance Coverage for Certificates of Deposit
Federal Deposit Insurance Corporation (FDIC) insurance offers protection not only for money held in savings or checking accounts but also for funds in certificates of deposit (CDs).
Situations where CD Deposits may not be Covered
- Non-qualifying Accounts: Ensure your CD meets the FDIC guidelines to guarantee coverage.
- Excess Coverage Amount: Accounts exceeding the insured limit may not be fully covered by FDIC insurance.
Understanding the limitations and inclusions of FDIC insurance on CDs is essential for protecting your investments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.