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Joint accounts are insured for $250,000 per co-owner, so a $500,000 CD owned by two joint account holders would be fully insured because each account holder is insured for up to $250,000.
This is because you’ll exceed FDIC limits — meaning any amount over $250,000 could be at risk if the bank were to fail. If you have a joint account, you can keep up to $500,000 in a single ...
With joint accounts, the FDIC insurance covers up to $250,000 per co-owner — or $500,000. However, this limit applies to all joint accounts that you share at a bank.
With joint accounts, each owner is insured for the full amount. For example, if a married couple has a joint savings or checking account, they are insured for up to $500,000 in their joint account(s).
[62] [63] [64] The act also made the insurance limit increase permanent and required the FDIC to submit a restoration plan whenever the insurance fund balance falls below 1.35% of insured deposits. The insurance fund returned to a positive balance at the start of 2011 and reached its required balance in 2018.
For example, you could open a joint savings account with a spouse — or almost anyone for that matter — and be eligible for up to $500,000 in FDIC insurance because each account holder is ...