An electronic component includes a body including a dielectric layer and internal electrodes, and including first to sixth surfaces; a first external electrode including a first connection portion on the third surface and a first band portion on the first surface; a second external electrode including a second connection portion on the fourth surface and a second band portion on the first surface; an insulating layer on the second surface and the first and second connection portions; and a plating layer on the first and second band portions. The plating layer extends onto the first and second connection portions and is in contact with the insulating layer. A thickness of an end of the insulating layer decreases toward the plating layer. An end of the plating layer includes a first region between the insulating layer and the first or second connection portion and a second region covering the insulating layer.