What does fdic mean in banking

As for savings, going with an FDIC-insured high-yield savings account can earn you more than 10 times the national interest rate. Skip Navigation. Follow Select. Our top picks of timely offers from our partners More details. SoFi Personal Loans. LightStream Personal Loans. We may receive a commission from affiliate partner links.

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Your Money. Personal Finance. Your Practice. Popular Courses. Personal Finance Banking. Not all institutions are insured by the FDIC. The FDIC does not insure share accounts at credit unions. What and How Much Is Covered? Article Sources. Investopedia requires writers to use primary sources to support their work.

These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Related Articles. Savings Accounts Money Market Fund vs. Banking Banking Partner Links. An uninsured certificate of deposit is a CD which is not insured against losses. What Is a Savings Account?

A savings account is a deposit account held at a financial institution that provides principal security and a modest interest rate. How Does a Checking Account Work?