alleryStart learning →Deposits held at a federally insured financial institution carry insurance up to what minimum amount?
AAt least $250,000 per depositor
BAt least $100,000 per depositor
CAt least $500,000 per depositor
DAt least $50,000 per depositor
Answer & Solution
Correct answer: A. At least $250,000 per depositor
1. Federal deposit insurance protects money held at an insured bank or credit union.
2. The floor of that protection is $250,000, so deposits are insured to at least that amount.
3. $100,000 and $50,000 sit below the stated floor, and $500,000 sits above it.
_Source: FDIC Money Smart for Adults (September 2018), Module 5: Your Savings, section Deposit Insurance_
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