Deposits in bank savings accounts are insured by the FDIC up to what amount?

Deposits in bank savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. This insurance is in place to protect depositors in the event that a bank fails, ensuring that individuals do not lose their savings.

Understanding this limit is crucial for individuals when managing their savings and investments, as it helps them make decisions about how much money to keep in a single bank versus spreading it across multiple institutions to ensure full coverage. The other figures provided, such as $100,000, $200,000, and $500,000, do not reflect the current FDIC insurance limits and may lead to misunderstandings about the protection of bank deposits.