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FDIC Insurance

At Synchrony Bank, all our accounts bring you the peace of mind that comes with the protection of FDIC insurance – up to $250,000 per depositor, per insured bank, for each ownership category.

Your FDIC coverage MAXIMIZED

Separate FDIC Insurance for different ownership categories maximizes your coverage.

Here is an example of how you can enhance your FDIC protection with Synchrony Bank

Meet Phil and Phyllis, their 21-year-old son, Phil, Jr. and 18-year-old daughter, Philomena. See this illustrative example of how a family can structure their accounts to maximize their FDIC protection.

Account Ownership Account Type Account Owners Beneficiary FDIC Insured Amount
Single High Yield Savings Account Phil n/a Up to $250,000
Single 12-month Certificate of Deposit Phyllis n/a Up to $250,000
Single 18-month Certificate of Deposit Phil Jr. n/a Up to $250,000
Single High Yield Savings Account Philomena n/a Up to $250,000
Joint Money Market Account Phill & Phyllis n/a Up to $500,000
Qualifying Retirement Account Traditional IRA Phil n/a Up to $250,000
Qualifying Retirement Account Roth IRA Phyllis n/a Up to $250,000
Trust Account Revocable Trust Phil Phil Jr. & Philomena Up to $500,000
  Total FDIC Coverage Up to $2,500,000

Additional tools

There are a variety of additional scenarios that you may wish to explore when it comes to protecting your money. The FDIC has a handy tool – EDIE The Estimator – accessible at that can help get you started.

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