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Home >> Accounts >> Certificates of Deposit
Are CDs Insured?
Are CDs insured? Where is the safest place for cash?
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 Deposits in a bank or credit union in the U.S. are insured when you see the sign that says the deposits are insured by the FDIC or the NCUA. We are not aware of any legally operating financial institutions in this category that are not insured.
Your deposits may or may not be insured, depending on the dollar amount of all your deposits. If you have $100,000 or less, those monies are insured. Certain retirement accounts are insured to $250,000. You may also have different categories of accounts that allow you to have even more coverage. An individual account (such as an account owned by John Doe) will have $100,000 in coverage. If John has a joint account with Jane, that joint account will provide another $100,000 in coverage.
If you have more than $100,000, call your bank or credit union of look on the website of the FDIC or NCUA. Calculators are available, so you can add information and see what coverage or gaps you have.
Published on BankingQuestions.com 9/19/08
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