The FDIC protects your money in a savings account up to a maximum of

The Federal Deposit Insurance Corporation (FDIC) protects depositors by insuring their funds in member banks up to a specified limit. As of the current guidelines, the FDIC provides coverage of up to $250,000 per depositor, per insured bank, for each account ownership category. This means that if a bank fails, the FDIC will reimburse customers for the amount of their deposits, up to this limit.

This coverage is important because it enhances the safety and security of your funds, giving depositors peace of mind while managing their personal finances. Understanding the insurance limits is crucial for individuals to determine how much of their savings is protected, particularly if they maintain balances above the insurance limit across multiple financial institutions or across different account types.

Other amounts presented in the options do not reflect the current insurance limit established by the FDIC and therefore do not offer the same level of clarity regarding depositor protections. Knowing the correct limit helps individuals make informed decisions about their banking practices and savings strategies.