Certificate of Deposit Accounts FDIC Insured up to $50 Million

Most people are unaware there is a service called the Certificate of Deposit Account Registry Service, or CDARS, that greatly simplifies the process of depositing more then $100,000 in CD accounts to qualify for FDIC insurance. The network of over 2000 banks is overseen by the FDIC and only banks with the highest FDIC rating can participate.

How does the CDARS service work?

Customers only have to work with one bank and only make one deposit. Their CD deposit is split across the network of banks of just under $100,000 to qualify for FDIC insurance. You can choose CD terms between 1 month to 5 years and you earn the same CD rate across all banks.

You receieve one statement that details your CD investments in all banks. There are no transaction fees, annual fees or fees of any kind. Since your CD deposits are fully insured by the FDIC you do not have to collateralize your deposits.

Watch this short video on how CDARS works CDARS video

Locate a CDARS member bank by state here: CDARS bank locater by state