ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In general, nearly all banks carry FDIC insurance for their depositors. However, there are two limitations to that coverage. The first is that only depository accounts, such as checking, savings, bank money market accounts, and CDs are covered.

Detailed explanation-2: -The standard insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category. And you don’t have to purchase deposit insurance. If you open a deposit account in an FDIC-insured bank, you are automatically covered.

Detailed explanation-3: -The standard deposit insurance amount is $250, 000 per depositor, per insured bank, for each account ownership category. The FDIC insures deposits that a person holds in one insured bank separately from any deposits that the person owns in another separately chartered insured bank.

Detailed explanation-4: -Checking accounts. Negotiable Order of Withdrawal (NOW) accounts. Savings accounts. Money Market Deposit Accounts (MMDAs) Time deposits such as certificates of deposit (CDs) Cashier’s checks, money orders, and other official items issued by a bank. 13-Sept-2022